European stock exchanges have yet to find a clear direction on Tuesday. the Dax hovered around its close yesterday and was slightly in the red late in the session at 15,555 points. Jochen Stanzl of online broker CMC Markets said: “The topics on the ground remain the same: the spread of the delta variant is troubling, the reporting season bar is too high to produce any positive surprises, and then it. There is always the subject of Inflation which should weigh on corporate margins in the coming weeks. “
Infineon’s numbers did not quite meet the high expectations of investors. Shares of the semiconductor company have occasionally slipped more than five percent, more recently they have fallen 0.4 percent. Infineon also benefited from the continued chip boom in the third fiscal quarter. Stifel Research analyst Jürgen Wagner called the earnings and sales outlook for the fourth quarter a minor disappointment.
In M-Dax, the shares of software provider Teamviewer fell ten percent into the red. Since February, the share price has lost more than 40% following the decline of the corona pandemic. In the last quarter, Teamviewer earned half as much as the previous year due to significantly higher costs. Meanwhile, airport operator Fraport went back into the dark in the second quarter thanks to government compensation payments. CEO Stefan Schulte therefore believes that a small profit is possible for the whole year, but in his opinion the outlook for the passenger sector has not improved. Fraport shares fell one percent.
On the London Stock Exchange, BP shares rose 5.6%. The oil company raised its dividend after strong earnings in the second quarter and announced a $ 1.4 billion share buyback program.
Encouraging corporate balance sheets have brought investors back to Wall Street. the Dow jones closed up 0.8 percent. After doubling quarterly profit, shares of sporting goods maker Under Armor rose 7.5%. In their wake, rival titles from Nike hit a record high of $ 171.23.