Shares – Dax down slightly – economy

A mix of unusual company balance sheets and a lack of clear statements about the European Central Bank (ECB) on monetary policy deterred investors from buying shares on European stock markets on Thursday. Of Dax collapsed 0.1% to 15,696 points at the end of trading. “The markets are trapped in a no man’s land,” said Michael Hewson, investment strategist at brokerage firm CMC Markets. On the one hand, investors hoped that corporate profits would continue to rise, on the other hand, they feared a contraction in margins due to rising inflation. The advice of the European Central Bank did not initially give new impetus either.

Besides the ECB meeting, events were dominated by a flood of quarterly reports. Airbus and Volkswagen have released Dax sales figures. Airbus has raised its profit target for 2021 for the second time this year. The share then increased by almost two percent. Conversely, investors have reacted stiflingly to Volkswagen’s announcement that it would cut sales and revenue forecasts for the current year following declining profits. In the third quarter, the automaker’s operating profit before special items fell twelve percent to 2.8 billion euros. VW shares fell 4.5%.

In M-Dax, Nemetschek’s papers sagged by more than seven percent. The Software Developer’s Quarterly Report could no longer support the course. It had recently increased significantly. Beiersdorf shares fell 4.7%. According to analysts at Jefferies, automaker Nivea and Tesa remained somewhat below expectations despite growth in the third quarter. One of the biggest losers among mid-sized stocks was Befesa stock with minus 4.3%. The industrial recycler performed weaker than expected in the third quarter.

A friendly mood on Wall Street lifted him Dow jones up 0.6 percent. The biggest winner in the US benchmark was Merck’s paper with a premium of 5.2%. The US pharmaceutical company has raised its annual targets after a jump in its profits in the third quarter. Merck has benefited from significant growth in its cancer drugs and vaccines business.

Related Articles

Back to top button