Stock exchange in Frankfurt: directionless start in the Dax – waiting for US job data

Stock exchange in Frankfurt: directionless start in the Dax – waiting for US job data

The German stock market started without a trend. The missing US labor market report numbers may still have an impact. RTL Group benefits from a planned takeover.

Before the groundbreaking US labor market report, the German stock market opened without a clear trend.

The Dax traded 0.07 percent higher at 15,755.08 points in early trading. This indicates a weekly gain of around 1.4 percent for the German benchmark index. In contrast, the MDax of the medium-sized values ​​fell on Friday morning by 0.40 percent to 35,584.99 points. The leading Eurozone index EuroStoxx 50 fell by around 0.1 percent.

In addition to the US job data, other company figures are also in the focus of investors, including those of the DAX companies Allianz, Vonovia and Covestro.

The plastics group Covestro wants to keep the rate of growth high in the coming months. The annual target of an operating profit (Ebitda) of 2.7 to 3.1 billion euros, which was raised in July, was confirmed. The shares fell 0.3 percent.

With a price increase of 2.0 percent, the shares of Allianz softened a previously gloomy trading week. An improved outlook from the insurer for the current year and announced share buybacks let investors take hold of it again. On Monday, a price slide due to a warning of possible burdens in the US wealth management business had pushed stocks to a low since early February, from which they are now recovering.

At Vonovia, investors were only slightly impressed by the real estate company’s brighter outlook. The price rose by just 0.1 percent. Thanks to foreign acquisitions and higher rental income, business for Germany’s largest real estate company is going better than expected. Vonovia therefore increased its earnings target (FFO) for the current year.

The shares of Hellofresh lost 5.2 percent after a gloomy profitability outlook of the Kochboxenversender as MDax bottom light. The cook box mail order company increased its sales target for the current year after a strong second quarter. Since the DAX candidate wants to invest more money in further growth, he lowered the target for the operating margin.

The RTL Group’s titles benefited with a plus of 3.9 percent from the media company’s raised annual targets and an announced takeover. Mainly due to the strong growth in TV advertising revenues, total revenues in the first half of the year rose by 13.7 percent. RTL also benefited from the strong business with Fremantle and streaming offers. The adjusted result was a good 87 percent higher. RTL takes over the German magazine businesses and brands of the Hamburg magazine publisher Gruner + Jahr. The transaction is expected to close on January 1, 2022. The purchase price is 230 million euros excluding cash and debts.

Source Link

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts