ONLINE FOREX BROKER
2021-09-23 • Updated
Lufthansa will initiate an additional share issue to increase its capital by €2.14 billion, which will help to pay off a government bailout secured at the height of the COVID-19 pandemic. Aviation was among the sectors hardest hit by lockdowns and international travel restrictions and Lufthansa was one of several airlines forced to secure a government bailout.
Lufthansa believes that this money will help to repay the €9 billion state aid that saved it from bankruptcy. The stock price for the additional issue is set at €3.58. The issue will start on September 22 and run for the next two weeks.
In the Q2 financial statement, Lufthansa recognized a €756 million loss. Last year, when travel worldwide was halted by COVID-19, the airline's losses reached €1.5 billion.
Despite travel restrictions being eased and an increase in bookings, the German carrier said it still expects to operate at 40% of its pre-crisis capacity this year.
Daily chart
The price dropped by 25% on September 22 and broke through the support of €7, which has held the price since 1993. We expect Lufthansa to reach the last historical support range of €4.5 – €4.6. But before that, the price might retest the previous support level from below. As we can see, right now RSI locates in an oversold zone, that’s why we expect the price to return to €7 level again, before the next down move.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
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