The German stock market started trading on Tuesday hardly changed.
The German stock market started trading on Tuesday hardly changed.
The quarterly figures and outlooks from the car manufacturer BMW and the semiconductor company Infineon did not go down well with investors. The Dax traded 0.05 percent higher at 15,576.79 points in early business, while the MDax for medium-sized stocks rose 0.08 percent to 35,412.05 points on Tuesday. The leading Eurozone index EuroStoxx 50 gained around 0.1 percent.
The numbers from Infineon obviously did not quite meet the high expectations of investors. The shares in the semiconductor company lost 1 percent. Infineon also benefited from the ongoing chip boom in the third fiscal quarter. Analyst Jürgen Wagner from Stifel Research, however, rated the earnings and sales outlook for the fourth quarter as a small disappointment. The current capacity bottlenecks probably limited the profit development for the time being, according to the expert.
The papers from BMW reacted with a minus of 3.7 percent to current figures and the short-term outlook of the car manufacturer and were thus the bottom of the Dax. After an unexpectedly strong second quarter, BMW warned of burdens from higher raw material prices and a scarce chip supply in the second half of the year.
Teamviewer’s quarterly figures pushed the software provider’s shares into the red by 3.3 percent. Since their interim high in February 2021 of 49.64 euros, the share certificates have already lost more than 40 percent of their value in the wake of the waning corona pandemic. In the past quarter, Teamviewer earned only half as much as a year earlier due to significantly higher costs.
The Frankfurt airport operator Fraport returned to the black in the second quarter thanks to a government compensation payment. CEO Stefan Schulte therefore now believes that a small profit is possible for the year as a whole. The prospects for the passenger business at Germany’s largest airport have not improved in his assessment. Fraport papers lost 1.8 percent.
A one-off tax effect in connection with a discontinued fund product will have a negative impact on Aareal Bank’s results in the current year. The company announced that provisions were made for this in the second quarter. Despite the special burden, Aareal is sticking to its annual targets. However, the expected tax rate increases. The shares fell by 1.3 percent.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
