The German stock market rose slightly on Friday. The leading index Dax rose in early trading by 0.11 percent to 15,149.28 points. This indicates a weekly increase of around 0.8 percent for the Dax. The MDax of medium-sized companies increased by 0.41 percent to 28,909.41 points on Friday. The EuroStoxx 50, the leading index in the eurozone, gained around 0.1 percent.
In US trading the night before, technology stocks in particular were in strong shape. The Nasdaq 100 index rose 2 percent. After US trading closed, however, the semiconductor group Intel shocked with a slump in sales and profits in the past quarter. The share rushed after hours at times by a double-digit percentage. “This tension from the USA does not make it easy for investors in this country to orientate themselves,” commented analyst Thomas Altmann from QC Partners.
The telecom group United Internet announced details of the planned IPO of the hosting subsidiary Ionos. United Internet shares increased by 0.4 percent. Up to a total of 17.3 percent of the shares in Ionos are to be offered for a unit price of 18.50 to 22.50 euros. United Internet can look forward to gross proceeds of up to 408 million euros. At the upper end of the price range, the market valuation of Ionos could reach up to 3.15 billion euros.
Adidas shares rose 1.9 percent after the analysis house Warburg Research upgraded them from “hold” to “buy”. Analyst Jörg Frey assumes that the sporting goods group’s profits and news flow will improve again in 2023. Adidas is likely to beat short-term earnings estimates.
Airbus shares were among the weakest Dax values with a price loss of 1.8 percent. Analyst firm Jefferies downgraded the shares from “buy” to “hold”. The aircraft manufacturer’s conservatively expected outlook for 2023 is unlikely to help the shares, wrote analyst Chloe Lemarie. It cut its earnings estimates by up to twelve percent by 2025.
