Weak quarterly balance sheets of the two technology giants Apple and Amazon depressed the mood on the German stock market at the end of the week.
Weak quarterly balance sheets of the two technology giants Apple and Amazon depressed the mood on the German stock market at the end of the week.
The Dax fell on Friday morning by 0.8 percent to 15,569 points. From a weekly perspective, this shows a meager plus. The MDax of the medium-sized stock market stocks lost 0.67 percent to 34,778 points. The leading Eurozone index EuroStoxx 50 fell to a similar extent.
At Amazon, profits collapsed recently and Apple is heavily burdened by chip bottlenecks and corona failures. For both investor favorites Apple and Amazon, things went downhill the evening before according to their quarterly reports. “So far, the quarterly balance sheets of the large corporations have almost only been positive. Now, with Apple and Amazon, two heavyweights and favorites of Wall Street have presented figures that investors do not like at all, ”wrote strategist Jürgen Molnar from RoboMarkets.
The shares of Daimler were able to escape the gloomy mood. They rose by 1.4 percent to their highest level in almost six years. Daimler has shown itself to be “very resilient,” wrote JPMorgan analyst Jose Asumendi on the Stuttgart-based company’s quarterly report. The automaker has reduced fixed costs and is ready for the next upward cycle.
The quarterly figures from MTU were also well received, with the share price gaining 1.7 percent. The engine manufacturer earned more than expected in the third quarter. Heidelbergcement shares benefited from a higher profit forecast of the counterparty Holcim with a plus of 0.8 percent.
Qiagen sat at the top of the Dax with a premium of 4.7 percent. Very vague rumors were circulating here about a takeover of the service provider for medical diagnostics.
Among the smaller stock market values, Salzgitter at the top of the SDax rose by 2.5 percent. The steel company reported a leap in earnings for the first nine months. The shares of the Hamburg copper producer Aurubis, on the other hand, fell by 3 percent according to its quarterly report.
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.
