Before the start of the reporting season, investors are holding back on the stock market. Eyes are now turning to the upcoming figures from Europe’s largest software company.
Before the publication of many company figures this week, investors on the German stock market exercised restraint at the start of the week. The Dax fell to its daily low in late trading in the wake of the diving US stock markets and closed 1.00 percent lower at 19,461.19 points. On Thursday, the leading index reached a record high of around 19,675 points. The MDax of medium-sized stock exchange companies lost 0.67 percent to 27,152.77 points on Monday.
“In recent weeks, the market has often seen a strong end to the week, followed by profit-taking on Monday. So the decisive movements are likely to take place in the middle of the week this time too,” believes analyst Konstantin Oldenburger from CMC Markets. He sees the impetus for this in the current reporting season.
The software giant SAP will present its quarterly figures this Monday evening after the US stock market closes. The stocks with the heaviest weighting in the DAX closed at minus 1.0 percent. At SAP, a lot of optimism has already been priced into the price level and the shares of the largest European software manufacturer have made up a large part of the overall market development in the last few months, said stock market expert Andreas Lipkow. Now any negative surprise could have a major impact on the overall market, he warned.
Source: Stern