Soaring corporate profits on Wednesday attracted new investors to European stock markets. the Dax noted in the afternoon 0.7% more to 15,665 points and is only about 200 points from his record. Another ray of hope is the decline in the number of coronavirus cases in Britain, said Andrea Cicione, chief investment strategist at research house TS Lombard.
“It gives hope that the same will happen in the rest of Europe.” Shares in the tech sector were highly regarded by investors. The European Industry Index led the industry ranking with an increase of 1.3%. Shares of chip company Infineon led the DAX winners with over 3.9%. After strong quarterly figures from US sporting goods maker Under Armor, Adidas and Puma continued their rally in that country and hit record highs of 3.1 and 2.1 percent respectively. An optimistic analyst comment sent shares of Delivery Hero’s food delivery service up 2.4%.
The problems of the Spanish wind subsidiary Siemens Gamesa have pushed Siemens Energy into the red. At the end of the Dax, shares of the energy technology group lost 3.1%. Commerzbank shares reacted with a drop of 6.5% to the announcement of quarterly figures from the financial house. After a loss of half a billion euros in the second quarter as part of the restructuring of the group, profits for the whole of 2021 have drifted further. For the shares of leasing specialist Grenke, after the presentation of detailed second quarter figures, the best value S-Dax rose by 3.4%. Pareto investment house analyst Philipp Häßler spoke of a better-than-expected second quarter.
Weak US labor market data pushed US stock markets into the red. the Dow jones was 0.5 percent lower after the start of trading. Quarterly profit below market expectations sent General Motors down. Shares of the automaker fell 7.2%. About a week after a sloppy stock market debut, shares of online financial services provider Robinhood are rushing high. They won 65%.