Recent speculation about an imminent relaxation of the zero-Covid policy in China gave the German stock market positive impetus on Friday. At the same time, investors are eagerly awaiting the US employment market report for October. The surprisingly weak incoming orders for Germany’s industry were hardly noticed.
After two weak trading days, the leading index Dax increased by 0.73 percent to 13,225.84 points in early trading. In the course of the week, only a minimal loss is evident. The MDax rose by 1.83 percent to 23,672.11 points. The Eurozone leading index EuroStoxx 50 gained 0.77 percent to 3620.67 points.
“Investors are stubbornly looking ahead. Subsequent indications such as the orders for German industry in September are only casually considered,” commented market expert Andreas Lipkow. The data on the labor market in the USA are much more important on this day.
Among the individual values in Germany, other companies with quarterly reports or industry signals were in view. The Conti share took the lead in the Dax with a plus of 4.0 percent and was pulled up by the Italian tire manufacturer Pirelli. This was able to significantly increase sales prices in the third quarter and also benefited from a more advantageous product mix with high-quality tires.
The badly hit share of Germany’s largest real estate company Vonovia rose by 3.4 percent. Although Vonovia was a little more cautious when it came to the figures for the coming year, analysts attested the company solid business and referred to the already very weak share price development. With a loss of around 45 percent since the beginning of the year, the paper is one of the weakest in the Dax.
Gea, Freenet and RTL reported from the MDax. Here, the plant manufacturer Gea convinced with a more confident outlook for the year as a whole, which gave the shares a plus of 4.6 percent. After a more confident view of the end of the year, as expected by analysts, Freenet fell by 0.4 percent.
The RTL papers lost 1.1 percent. Due to postponed deliveries of productions and content in the current year, the TV group expects lower sales than previously announced. In addition, the operating result is now expected to be at the lower end of the target range for the year due to the weaker than expected development of the advertising market.
The filling and packaging system manufacturer Krones also reported a flood of orders for the third quarter, which catapulted the share in the SDax by 5.3 percent. In view of the strong business since the beginning of the year, the management had already raised the sales target in October and confirmed the earnings forecast.
