The Dax finally gave up its price gains on Thursday with new US economic data and turned into the red. Even before that, the plus had continued to crumble despite predominantly positive company news. Most recently, the leading German index recorded a loss of 0.09 percent to 15,492.90 points. It is therefore increasingly questionable whether the renewed attempt to break out of the most recent trading range will succeed. The MDax of medium-sized companies was still 0.62 percent higher at 28,829.69 points and the eurozone leading index EuroStoxx 50 gained 0.08 percent to 4283.46 points.
In the US, inflation at the manufacturer level continued to weaken in January, albeit not as significantly as expected. In addition, the weekly initial jobless claims fell unexpectedly, while the Philly Fed index, which measures the business climate in the US region of Philadelphia, surprisingly and significantly clouded over in February.
Investors on the German market focused their attention on company figures on Thursday. The aircraft manufacturer Airbus exceeded expectations with its annual results, which helped the shares to rise 4.7 percent to the top of the Dax and their highest level in around three years. Analysts unanimously assessed the development in the final quarter as positive, while opinions differed when it came to the outlook. Above all, the prospect of a significant drop in cash inflows met with a negative response. Airbus is postponing the expansion of its medium-haul jet production in view of the problems in the supply chains.
A stockbroker rated Commerzbank’s outlook as confident. After the highest profit in more than ten years, the Frankfurters want to further increase the result in 2023 – experts praised the outlook for net interest income in particular. With a price increase of 8.4 percent, the shares led the list of winners in the MDax.
The shares of K S recently defied negative news from the competitor Nutrien with a plus of one percent. The Canadian fertilizer manufacturer’s shares, which are listed in New York, suffered from weak quarterly figures and a disappointing outlook after the market closed there.
Exceeded sales and earnings expectations did not help the titles of the ticket seller CTS Eventim in the long term – they recently fell moderately.
Commercial vehicle supplier Jost Werke reported record figures for the past year from the SDax small-cap index. The recently strong titles lost 0.2 percent with the weakening market.
Index neighbor Nordex announced a non-cash capital increase. Only the Spanish major shareholder Acciona, which currently holds almost 41 percent of the share capital in the wind turbine manufacturer, is permitted to subscribe to and take over the new shares. The Nordex shares still gained 0.8 percent. The measure is not exactly a sign of strength, but rather the result of the recently very poor business situation, wrote Metzler analyst Guido Hoymann. A stockbroker suspects speculation behind the price gains that the Spaniards will increase their share even further.
The laboratory service provider Synlab meanwhile suffered from a downgrade with minus 2.7 percent and a new record low. The analyst firm Jefferies dropped its buy recommendation for the share and lowered the price target significantly. Expert James Vane-Tempest was negatively surprised by the reduced margin target in the context of the recently reported annual figures.
The euro reacted negatively to the US data and was last seen as low as $1.0674. On Wednesday, the European Central Bank (ECB) set the reference rate at $1.0700.
On the bond market, the current yield rose from 2.41 percent on the previous day to 2.47 percent. The Rex pension index fell by 0.19 percent to 125.05 points. The Bund future lost 0.30 percent to 134.44 points.
