Allianz Gets a Technical Lift Just as ECB Week Piles on the Data
24.05.2026 - 07:31:15 | boerse-global.de
Allianz heads into a macro-heavy trading week with a fresh tailwind from the chart. The stock settled at €384.10 on Friday, and right on the closing bell the MACD flashed a long signal — a bullish crossover that traders tend to treat as an early entry trigger. The distance to the 52-week high of €394.80, set on April 21, has shrunk to less than three per cent.
That technical momentum will now face a barrage of central-bank and economic releases. For an insurer, interest-rate expectations are a prime valuation driver, and the European Central Bank has three events on the calendar that could shift the dial. On Wednesday it publishes its Financial Stability Review, a diagnostic of risks across the financial system. Thursday brings the minutes of the April 29–30 ECB Governing Council meeting, offering insight into the debate behind the last rate decision. Friday wraps up with preliminary German consumer price figures for May — a leading indicator of how quickly the ECB might be able to ease further.
The stream of data does not stop there. Thursday also features the second reading of US first-quarter GDP, eurozone economic sentiment, US weekly initial jobless claims and personal income numbers. Any surprise on inflation or growth could quickly reverberate through rate-sensitive equities like Allianz.
Should investors sell immediately? Or is it worth buying Allianz?
On the corporate side, the last operational update came on May 13, and it gave the bulls plenty to work with. First-quarter business volume hit €53.0 billion, while operating profit climbed 6.6 per cent to €4.517 billion — a record quarterly figure on an adjusted basis. The solvency II ratio stood at a comfortable 221 per cent, well above the regulatory floor. Adjusted earnings per share rose to €9.96.
Every division contributed. The property-casualty arm delivered an operating result of €2.411 billion, with the combined ratio at 91.0 per cent and internal growth of almost seven per cent. Asset management chipped in €857 million in operating profit, powered by net inflows of €45.2 billion into third-party assets. The company is targeting full-year operating profit of €17.4 billion, plus or minus a billion euros, with the next quarterly release scheduled for August 7.
Management is also putting its money where its mouth is. Allianz bought back €300 million of its own shares in the first three months alone, and a large buyback programme remains in place.
Technically, the stock is running hot. The relative strength index sits at 71, putting it in moderately overbought territory — a level that can trigger profit-taking if the macro data disappoints. But the set-up still has support lines in place. The 50-day moving average at €373.65 would cushion any pullback, while the 200-day average at €369.30 lies further down. As long as the ECB and US data do not deliver a negative rate shock, those floors look firm enough to keep the rally intact.
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