Encouraged by strong corporate balance sheets, the Dax continued his record-breaking race Thursday after a hesitant start. The main German index exceeded the 15,900 points mark for the first time. In the afternoon session, the Dax was up 0.8% to 15,955 points. The day before, inflation figures from the United States had fueled the record rally in Frankfurt and Wall Street. According to analyst Pierre Veyret of broker Activtrades, there was relief that could last a bit longer. “While consumer prices in the United States remain high, yesterday’s figures support the Fed’s view that this is more of a temporary effect.”
The main support for Dax was Telekom shares with an increase of 2.9%. An annual forecast, which was further increased slightly after the second quarter, was very well received by investors. In contrast, poor margin prospects weighed on Delivery Hero. Shares slipped 5.8%. The slight drop in earnings guidance to minus 2% comes at a difficult time, analysts at Jefferies said. Henkel shares also fell more than 3% at times after the consumer goods maker lowered its margin guidance due to rising prices and tight supply chains.
In S-Dax, Bilfinger shares were in high demand. Headlines improved five percent. The Mannheim-based industrial services provider wants to distribute most of the proceeds from the resale of its former building management division Apleona to shareholders – but not until next year. Then, an exceptional dividend of 150 million euros will be paid and a share buyback of 100 million euros will begin, as announced by Bilfinger.
Shares of IT company Bechtle came under pressure after the quarterly balance sheet was presented and fell almost 3%. Overall, the numbers are strong, especially when it comes to underlying profitability, analysts at Jefferies say. However, the sales growth momentum eased slightly.
Wall Street presented itself without a clearly identifiable direction at the start of trading. the Dow jones remained at 35,480 points.