Thanks to a series of encouraging company reports, the Dax his earnings at the start of the week have increased. The German leading index climbed 1% to 15,757 points on Tuesday. It looks like the end-of-year stock market rally is already underway, ”says Jochen Stanzl of online broker CMC Markets. Analysts called the reporting season a robust one, which has started in Europe and is already well advanced in the United States. Olivier de Berranger of French fund company LFDE cautioned against being overly arrogant, adding that there are still concerns that economic activity will weaken faster and sooner than expected.
In this country, however, the joy of the leaps in growth and the confident prospects of many companies prevailed in the moment. Kion shares rose after strong growth of 6.2% in the third quarter and thus were among the leaders in M-Dax. Stocks of Pfeiffer Vacuum increased by almost ten percent in S-Dax. The vacuum pump maker has capitalized on the continued boom in the chip industry and raised its annual targets.
For K + S stocks, on the other hand, M-Dax fell by 9.7% at the top. The salt and fertilizer maker needs to be patient when merging its disposal business into a joint venture with recycling group Remex and will therefore likely miss its previous profit target for 2021. Meanwhile, the electronics company Ceconomy recently had a good online business. The operator of Media Markt and Saturn carried out the financial forecasts during the year. Ceconomy’s share rose almost seven percent.
Corporate balance sheets also brightened sentiment on Wall Street. Of Dow jones slightly improved to reach a new record of 35,757 points. Strong demand across all segments enabled US parcel service UPS to post a significant jump in profits and sales in the third quarter. UPS’s share grew by 6.9% and was ranked as never before.