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Frankfurt Stock Exchange: DAX shares lose slightly ahead of Nvidia’s quarterly balance sheet

Frankfurt Stock Exchange: DAX shares lose slightly ahead of Nvidia’s quarterly balance sheet

Before important news from the USA, the German stock market made small losses. The leading index DAX closed 0.25 percent weaker at 18,680.20 points. The MDax of medium-sized stocks ultimately fell by 0.10 percent to 27,146.10 points.

Investors’ reticence ahead of the evening meeting minutes of the US Federal Reserve (Fed) and the Nvidia figures due after the US stock market closes is not surprising, wrote analyst Christian Henke from broker IG. The topic of artificial intelligence (AI) remains the driving force, especially on the New York technology exchange Nasdaq. However, expectations of the AI ​​flagship company are probably very high.

Caution also prevailed at other trading venues. The Eurozone leading index EuroStoxx 50 fell by 0.4 percent. Prices also went downhill in Paris and London. The US leading index Dow Jones Industrial lost slightly at the end of trading in Europe, whereas the technology-heavy Nasdaq 100 gained a little.

Waiting for the Nvidia report

Nvidia shares are trading near their record levels even before quarterly figures are announced. The artificial intelligence company’s report has the potential to significantly move markets beyond the technology sector. The papers of the software giant Microsoft, which is also considered an important AI protagonist, had already reached a record on Tuesday.

Investors hope that the Fed minutes will provide information about the monetary policy course in the USA. The market expects that the US Federal Reserve will lower interest rates later than the European Central Bank (ECB), because inflation in the world’s largest economy has so far proven to be even more stubborn.

Europe’s car stocks were under selling pressure following a report about possible Chinese tariffs on imported vehicles. According to insiders, China could impose tariffs of up to 25 percent on high-performance cars from the European Union (EU) and the USA.

The United States recently drastically increased tariffs on electric cars from China, and tariffs on Chinese cars are also being debated in the EU. The shares of Porsche AG were among the biggest DAX losers with a loss of 3.6 percent. BMW, Mercedes-Benz and Volkswagen lost between 0.6 and 1.7 percent.

Individual values

According to quarterly figures, Evotec shares ultimately gained 0.7 percent after being significantly in the red at times. The active ingredient researcher had a weaker start to the year, but reiterated its annual targets. Sales in the first quarter were better than expected, but the adjusted operating result was worse, commented a dealer.

The DIY store group Hornbach Holding expects only a slight upturn in 2024/25 after declines in the last financial year. Although the company reported a strong start to the spring season, it expects sales to weaken by 20 percent over the remainder of the year due to the difficult economic environment. Shareholders should still receive a stable dividend. The Hornbach shares lost 1.9 percent in the SDax small-cap index.

The euro moved little against the US dollar and was last priced at $1.0840. The ECB had previously set the reference rate at $1.0830.

On the bond market, the current yield rose from 2.57 percent the day before to 2.59 percent. The Rex bond index fell by 0.12 percent to 124.14 points. The Bund future lost 0.22 percent to 130.49 points.

Source: Stern

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