Bubbling corporate profits are attracting many investors to the stock markets. The Dax is a little firmer, the M-Dax and the S-Dax go up to record levels. The Dow Jones also hit a new record in New York.
The business boom after the removal of restrictions on Corona made European stock market investors bullish on Thursday. the Dax closed half a percent up to 15,640 points. M-Dax and S-Dax each set new records. Rainer Weyrauch, investment expert at Fürst Fugger Privatbank, said market setbacks would be used by investors to make subsequent purchases. Statements by Fed Chairman Jerome Powell after the US Federal Reserve meeting also had a supporting effect. He reiterated that the Fed is in no rush to cut its stimulus measures.
Under DAX stocks Volkswagen stocks fluctuated quite sharply at first based on the numbers and the increase in yield targets, they recently rose 1.6%. NordLB spoke of a “surprisingly strong first half” for the automaker. Heidelberg-Cement’s business is getting better and better. Management has now raised the profit target. However, shares of the building materials group gave up some of their earnings and ended up trading up 0.1%.
Aixtron took advantage of a boom in demand in the semiconductor industry and again raised its forecast for incoming orders. The chip system maker’s shares rose nearly ten percent in the top M-Dax. The shares of European aircraft manufacturer Airbus gained 0.7% in value. The group is recovering quickly from the corona crisis in the aviation industry and expects twice as many profits for the current year with four billion euros than before. The world’s largest steel group ArcelorMittal achieved its best quarterly result in 13 years thanks to a strong increase in demand. At the Amsterdam stock exchange, newspapers rose by a good four percent. The steel boom also ensured record results for steel trader Klöckner & Co in this country. His actions led the winners in the S-Dax with a 6.3 percent bonus. The prospect of further liquidity injections from the US Federal Reserve has pushed New York to Dow jones temporarily 0.6 percent to a new high of 35,171 points. Ford was one of the favorites with a price increase of 3.7%. Based on surprisingly strong quarterly results, the automaker has raised its annual targets.