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Sunday, November 27, 2022

Stock exchange in Frankfurt: Dax rises after strong numbers from Siemens

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Jane
Jane
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.
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Strong business figures from Siemens gave the Dax a tailwind on Thursday. The German leading index Dax rose in early trading by 0.92 percent to 14,365 points. The MDax increased by 0.78 percent to 25,811 points. Looking at the European stock market environment, the EuroStoxx 50 recorded an increase of 0.61 percent to 3907 points.

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Strong business figures from Siemens gave the Dax a tailwind on Thursday. The German leading index Dax rose in early trading by 0.92 percent to 14,365 points. The MDax increased by 0.78 percent to 25,811 points. Looking at the European stock market environment, the EuroStoxx 50 recorded an increase of 0.61 percent to 3907 points.

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With a plus of 8.7 percent, Siemens took the lead in the Dax by a wide margin. For the first time since March, the shares surpassed the 130 euro mark. Analyst Gael de-Bray from Deutsche Bank spoke of a “very encouraging outlook” for the industrial group for the 2022/23 financial year. In the final quarter of 2021/22, incoming orders were ten percent above market expectations. Cash and profitability are also better than expected.

In the second row in the MDax, Thyssenkrupp increased by 0.6 percent. Analysts especially praised the cash funds generated by the industrial group in the fourth quarter of the financial year. According to the experts, there were ups and downs in the results and the outlook.

The insurer Talanx led the MDax with a premium of 4.1 percent. They benefited from a buy rating from Bank Oddo BHF.

After the recent slump, Morphosys shares stabilized somewhat following the biopharmaceutical company’s earnings report. They rose by 3.2 percent.

Source: Stern

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