The recovery rally in the Dax has initially taken a break. In the first hour of trading, the leading German index fell by 0.5 percent to 13,616 points on Wednesday. Since last Thursday alone, the Dax had climbed by more than 4 percent. The MDax of medium-sized companies lost one percent to 24,240 points on Wednesday. He had recently even improved over 5 percent. The Eurozone leading index EuroStoxx 50 fell 0.4 percent.
“The influence of the US midterm elections on the market has so far been manageable,” says Helaba. In the “midterms” in the middle of President Joe Biden’s four-year term in office, following the closure of the polling stations in numerous states, it is still unclear which party will have the say in the US Congress in the future. However, a recently predicted overwhelming victory for the Republicans has not yet emerged.
According to the Helaba experts, US consumer prices will already be in focus on Thursday in view of their signaling effect on the US Federal Reserve’s interest rate policy. The environment remains difficult in view of high inflation expectations.
Investors’ uncertainty was also reflected in the sometimes significant price fluctuations of individual stocks. After a weak start, shares from Siemens Healthineers rose by almost 4.8 percent. The medical technology group is assuming that business will weaken in the fiscal year that started in October and expects adjusted earnings per share to fall and comparable sales to almost stagnate. Analysts remained calm in the first reactions.
At Adidas, too, investors processed another mood dampener quite well. Because the partnership with the rapper Kanye West and his brand Yeezy has since ended, the Herzogenaurach-based company had to cut its sales forecast again. The recent joy of the stockbrokers about the new CEO, who is leaving Puma, did little to detract from this – after pre-market losses and an interim plus, Adidas papers remained stable after they had recently risen by around 30 percent since the low reached on Thursday since 2016 had rushed.
Many other companies also presented business figures – including Evotec and Bilfinger, which then collapsed in double digits. Significantly increased costs for energy and high expenses for the expansion of production eat into the operating profit of the pharmaceutical researcher, while the industrial service provider is burdened by the costs of his savings program.
