Thanks to solid gains on Friday, the German stock exchange recorded an amicable end of the week and a strong end of the month. Unexpectedly good quarterly reports by the American heavyweight giants Amazon and Apple put investors in a good mood.
In Germany as well, some good company performance gave positive impetus. In the late afternoon, Dax climbed to its highest level since mid-June, closing 1.52 percent to 13,484.05 points. On a weekly basis, this resulted in an increase of approximately 1.7%. July saw an increase in Dax of approximately 5.5 percent. It was the biggest increase in July in six years. Mid-market MDax gained 2.01 percent on Friday. up to 27 364.57 points
The Eurozone leading EuroStoxx 50 index rose 1.5 percent to 3,708 points. The French Cac 40 rose by 1.7 percent and the British FTSE 100 by 1.1 percent. In the US, the leading Dow Jones Industrial index was almost half a percent higher at the end of trading in Europe.
Apple and Amazon expect more growth
Amazon and Apple convinced investors the night before with their annual reports. In the case of the internet giant Amazon, it is particularly interesting that the group expects further growth in the next few quarters, wrote capital market strategist Jürgen Molnar of the Robomarkets broker. “Amazon is not showing a significant decline in buying behavior at Walmart.” The fact that Apple’s smartphone business continues to thrive is proof that consumers are not saving on these products. According to the expert, it could also push the fear of recession into the background.
At the top of the Dax rankings, good sentiment in the internet and tech sectors ahead of the weekend attracted the newspapers from online fashion chain Zalando and chip maker Infineon, both gaining 6.5 percent and 3.5 percent, respectively.
Fresenius Medical Care keeps losing
On the other hand, the actions of the Fresenius Medical Care (FMC) dialysis group were not supported. After prices had dropped more than 14 percent the day before, the price had dropped further to its lowest level since 2009. By the end of Dax, they finally lost 3.4 percent. UBS also dropped its buy recommendation for the newspaper.
Investors appreciated the increased sales targets of Siltronic wafer producer with an increase of 6.3%. The titles were among the best values in MDax, where only the shares of forklift manufacturers Kion and Jungheinrich were even better with plus 8.4 and plus 7.6 percent respectively.
In the SDax Small Business Index, two grades for Takkt caused the mail-order office furniture business to lose more than 12 percent. Warburg Research canceled the buy vote and now rates the stock as “Hold.” Hauck Aufhäuser is now advising the sale.
Covestro lowers its annual goals
Following the end of the Xetra trade, Covestro plastics group surprised with lowered annual targets that were below analysts’ average estimate. Shares on the Tradegate trading platform have recently fallen by around 2.5%.
The euro recently cost US $ 1.0200. The European Central Bank (ECB) set the reference rate at USD 1.0198 in the afternoon.
In the bond market, the current yield on German government bonds fell from 0.86 percent. the day before to 0.77 percent The Rex retirement rate increased by 0.35 percent to 137.14 points. Bunds contract gained 0.15%. up to 157.79 points (dpa)