Südzucker may raise its forecast again – energy prices are driving the result
Business at Südzucker works like clockwork. The farming group benefits in particular from price increases in its energy subsidiary. Business at Deutsche Euroshop is starting to normalize. The mall investor surprised trade after hours with good data. The losses at Rivian are piling up. The forecast for this year could no longer be met.
Trading in Asian stocks is mixed on the last trading day of the week. While the Tokyo stock market is recovering from yesterday’s vacation and is able to gain significantly, some Chinese benchmarks are in the negative during the session. The Taiwan Weighted Index is making up some of its losses over the past few days. The futures market is also inconsistent ahead of the opening of the European pre-exchange. While US stock indices increased slightly, the DAX futures are trading at 13,674 points just below the closing price.
Friendly trade in Frankfurt on Thursday. TecDAX increased significantly by 1.18% to 3,194.10 points. The SDAX, which gained 0.63% to 13,196.66 points, was well behind the MDAX, which improved by 0.28% to 27,896.16 points. Only the DAX closed slightly below the Wednesday’s closing rate at 13,694.51 points.
On Wall Street, on the other hand, investors tended to make a profit. While the Dow Jones Industrial Average remained flat at 33,336.67 points (+ 0.08%), the S&P 500 index fell slightly by -0.07% to 4,207.27 points. The Nasdaq Composite Index fell the most, closing at -0.58% lower at 12,779.91 points.
Südzucker increases the forecast again
The company in Südzucker (DE0007297004) works great. The farming group has already significantly raised its forecast for the current fiscal year and raised it again on Thursday evening. After the trading day, it was announced that the group’s expected sales would be between EUR 8.9 and 9.3 billion, and EBITDA would be raised from the previously forecast range from EUR 760 to EUR 860 million to EUR 810 million to EUR 910 million. The operating profit forecast was also raised from EUR 400 million to EUR 500 million to EUR 450 million to EUR 550 million. In addition to the increase in agricultural prices, Südzucker benefits in particular from price increases in the energy segment.
Standardization at Deutsche Euroshop
Shopping mall investor German Euroshop (DE0007480204) the stock exchange was able to positively surprise after the close of trading. Despite sales stagnating at EUR 105.7 million, the company managed to significantly increase profits by 25.5% to EUR 46.2 million. Key FFO (operating funds) adjusted for valuation and special effects increased by 22.8% to EUR 66.7 million, or EUR 1.08 per share. For the Annual General Meeting on August 20, the Management Board proposes a dividend of EUR 1.00 per share. On Tradegate, the shares closed 7.48% higher at EUR 25.58.
Rivian lowers expectations
American manufacturer of electric vehicles Riv (US76954A1034) was able to beat Wall Street’s significantly lowered sales forecast for the second quarter. He raised $ 364 million, while analysts raised an average of $ 335.7 million. The company once again confirmed the forecast that it wants to deliver 25,000 vehicles this year. However, expectations for the outcome have been lowered. Earlier, Wall Street announced an adjusted loss of $ 4.75 billion. The adjusted loss should now be much higher, amounting to $ -5.45 billion. In ordinary trading, shares rose 4.14% to $ 38.95. But by the numbers it was down 2.44% to $ 38.00.
Today at 11:00 CET we expect the publication of industrial production for July in the euro zone. Compared to the previous year, an increase of 0.8% is still expected, after 1.8% in June. Compared to the previous month, industrial production is to increase by 0.2%.
08/12/2022 – Mikey Fritz
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