European markets were mixed on Tuesday’s open
European markets were mixed on Tuesday’s open amid prevailing market uncertainty. The cautious trading mood comes despite a solid earnings season where most companies topped estimates. This hesitant trading stance is mainly due to growing inflationary worries as developed economies edge nearer to a “back-to-normal” situation. This situation is especially true for the tech sector where investors are more and more tempted to take profit following a record year. However, the EU’s recent plans to lift travel restrictions is having a positive impact on energy shares and other cyclical values and this has helped prevent benchmarks falling further so far. The DAX-30 Index is one of the eurozone’s worst performers as with the index trading well below 15,200pts, close to the lower band of its wide consolidation zone at 15,080pts.
Pierre Veyret– Technical analyst, ActivTrades
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