The German stock market is largely at a standstill. The Dax is still hardly moving. Now this Wednesday, the consumer price data for April from the USA is awaited as an impetus. Final April inflation data from Germany only confirmed the preliminary ones and therefore did not attract much attention.
The German stock market is largely at a standstill. The Dax is still hardly moving. Now this Wednesday, the consumer price data for April from the USA is awaited as an impetus. Final April inflation data from Germany only confirmed the preliminary ones and therefore did not attract much attention.
On another trading day with numerous quarterly reports, the leading index fell by 0.21 percent to 15,921.66 points in early business. The MDax fell by 0.08 percent to 27,292.55 points. At the same time, the leading euro zone index EuroStoxx 50 advanced by 0.04 percent to 4324.62 points.
Under the individual values, several Dax companies with quarterly reports are in view, such as Eon, Brenntag, Continental and Siemens Healthineers. Costs for the restructuring of diagnostics and for a reorganization of the robotics business weighed on the medical technology group in the second quarter of the financial year, which pushed the Siemens Healthineers share down 6.4 percent to the end of the index.
The paper of the car supplier Conti, on the other hand, took the Dax top with plus 4.2 percent after a stronger start to the year than expected. The Eon share, which has been running strongly since mid-October, fell by 0.6 percent after the energy supplier had given a somewhat more optimistic outlook for the year. The share certificate of the chemicals trader Brenntag, which has also done very well in recent months, fell by 1.0 percent. The latter reported a smaller-than-expected decline in quarterly operating profit and confirmed its full-year targets. In the MDax, Telefonica Germany also suffered from profit-taking and lost 6.2 percent. The day before, the telecom provider’s shares had reached their highest level since January 2019.
After a drop in profits at the start of the year, the chemicals group Lanxess became somewhat more cautious about the operating profit for the year adjusted for special effects. The stock then went down 2.5 percent. “The outlook is now more specific, but has a very wide range in adjusted Ebitda and is also below consensus expectations,” complained one trader.
Evotec, which had been removed from the MDax the day before because the pharmaceutical researcher was unable to submit its annual report on time due to a cyber attack, jumped 8.0 percent. They benefited from a collaboration with Novartis in the USA. This leads directly to an advance payment in the tens of millions. In addition, there are further future payments that depend on the successful progress of development.
Source: Stern
