The Dax continued its recovery from the previous day on Friday. In the first three quarters of an hour, the leading German index rose half a percent to 15,395 points. On a weekly basis, however, it is still in the red.
The Dax continued its recovery from the previous day on Friday. In the first three quarters of an hour, the leading German index rose half a percent to 15,395 points. On a weekly basis, however, it is still in the red.
The MDax of medium-sized stocks rose by 1.5 percent to 26,115 points on Friday morning. The Eurozone leading index EuroStoxx 50 rose by around 0.7 percent.
On the one hand, the stabilization on Wall Street at its lowest level since June helped. Inflation data from France also surprised positively: inflation in Europe’s second-largest economy unexpectedly weakened in September.
The main topics on the stock market are Commerzbank’s new dividend policy and Nike’s annual report, which caused significant price increases.
Commerzbank shares climbed by more than 8 percent to their highest level in seven weeks. For the financial years 2022 to 2024, a total of three billion euros will be distributed to shareholders through dividends and share buybacks. In principle, the bank aims to distribute more than 50 percent of its profits – after deducting interest payments for certain bonds and minority shares – in the years 2025 to 2027. In addition, an ambitious profitability target was set.
Nike’s quarterly report found profiteers on the German market: Adidas (plus 7 percent), Puma (plus 6.5 percent) and Zalando with up to 3 percent increased prices significantly. Met margin expectations, the outlook for the second quarter and full year as well as progress in inventories also sent positive earnings signals for Adidas and Puma, explained Jefferies expert James Grzinic. According to stockbrokers, the reduction in inventories is particularly important for Zalando.
Source: Stern
