The trend on the stock markets continues to point upwards. Investors have not yet been slowed down by the cautious forecasts of large companies such as Apple.
The Dax continued its strong start to the month on Friday. In early trading on Xetra, the leading German index gained 0.23 percent to 15,179.02 points. On a weekly basis, there is currently an increase of 3.3 percent.
The MDax of medium-sized companies, which had been particularly strong the day before, rose by 0.97 percent to 24,970.00 points on Friday morning. The Eurozone leading index EuroStoxx 50 was also higher at 0.2 percent. Even a cautious forecast from the US technology heavyweight Apple for the Christmas quarter hardly seems to be affecting investors’ joy at the moment.
Whether the trend remains positive will probably also depend on the US labor market report in the afternoon. So far, the labor market in the United States has shown no weaknesses, according to economists from the Landesbank Hessen-Thüringen (Helaba). Looking at the jobs report this Friday, we can expect things to calm down. If employment growth cools down, the probability of an additional interest rate hike by the US Federal Reserve Bank would decrease further.
In any case, there is currently hope on the market that US interest rates will reach their peak following the Fed’s key interest rate decision on Wednesday. If the central banks have ended their cycle of interest rate hikes, the rally on the stock markets could continue, stock market expert Mohit Kumar from Jefferies said he was confident about what would happen in November. However, the geopolitical risks remained conscious.
The real estate group Vonovia and the car manufacturer BMW will be in the Dax on Friday with quarterly figures in view. BMW achieved more sales and profits in day-to-day business in the third quarter than expected. The papers rose in price by 2.9 percent. Analysts at JPMorgan praised Bavaria for having had a strong quarter.
Vonovia shares rose by 3.7 percent and continued the positive trend of the past few days, supported by the hope that interest rates would ease. The residential real estate group’s third quarter met expectations, the trade said. Vonovia says it is making progress with the planned sale of apartments.
In the SDax of smaller stocks, the beverage bottling plant manufacturer Krones and the technology group Kontron were in focus. At Krones, traders and analysts praised the order situation, and the shares gained 2.6 percent. Kontron papers climbed to a record high after raising their profit forecast and recently gained 5.6 percent.
Source: Stern
