Under the impression of a large number of quarterly balance sheets, central bank decisions and the meeting between Donald Trump and Xi Jinping, the Dax started a little higher on Thursday, but then gave up its early gains.
Most recently, the leading German index rose by 0.2 percent to 24,072 points. The MDax for medium-sized stock exchange companies recently fluctuated around zero. The Euroregion’s leading index, the EuroStoxx 50, fell by 0.4 percent.
In the dispute over China’s export controls on rare earths, US President Donald Trump (79) said he reached an agreement with Chinese President Xi Jinping (72). Market observer Thomas Altmann from asset manager QC Partners noted that it is positive that the world’s two largest economies are obviously on a reconciliation course and are moving towards each other.
Investors also had to digest the US Federal Reserve’s decision. As expected, the Fed cut key interest rates by 25 basis points on Wednesday evening, but at the same time Fed Chairman Jerome Powell (72) put a question mark over the interest rate cut in December that the stock markets had already believed was certain.
In addition to the consequences of the meeting between Trump and Xi and the central bank decision, investors have to look at the figures from important US technology companies such as Microsoft, alphabet and Meta process.
On Thursday there will also be many quarterly figures from German companies, especially from the second and third rows, but also from the Dax, before inflation data is released in the afternoon Germany and immediately afterwards the interest rate decision of the European Central Bank (ECB). With the quarterly figures from Amazon and Apple In the evening after the US stock market closes, “Big Tech” is once again the focus.
Lufthansa with price rally
In the Dax, Airbus shares initially shone with a premium of up to 2 percent, but most recently the shares were still trading at plus 0.2 percent. The European aircraft manufacturer is further distancing itself from its arch-rival Boeing thanks to good business with military aircraft and helicopters.
Investors also bought Lufthansa, with the shares increasing by 3.7 percent. “An expanded flight program and stronger growth in logistics and technology ensured sales growth and exceeded expectations,” summarized the analysts at Raiffeisen Research.
Volkswagen made price gains despite billions in losses
Volkswagen investors are nervous after the publication of the figures for the third quarter. The advantages were volatile, recently trading slightly higher before finally tipping into the loss zone and having to accept a discount of 1.3 percent. The car manufacturer slipped, mainly because of the problems at the sports car subsidiary Porsche deep into the red. However, the operating margin adjusted for special charges and customs duties was higher than expected.
Sporting goods manufacturer Puma has presented its figures
, the share was recently down 1.8 percent. The Herzogenaurach-based company wants to change its strategy and announced that it will cut 900 jobs.
No clear direction in New York
The US stock exchanges ended trading mixed on Wednesday. The most important indices initially continued their record run, fueled in particular by the AI hype surrounding them Nvidia. However, during trading, Fed Chairman Jerome Powell raised doubts about further easing of US interest rates in December.
The US standard value index Dow Jones closed trading on Wednesday with a loss of 0.2 percent at 47,632 points. The broad S&P 500 was barely changed at 6,890 points, and the technology-heavy Nasdaq rose by 0.6 percent to 23,958 points.
Nvidia caused a stir among the individual stocks. In an environment that continues to be favorable for stocks, the chip manufacturer was able to increase its stock market value break the five trillion US dollar mark for the first time. The shares are soaring because the company plays a key role in the current boom around artificial intelligence. Nvidia’s shares ultimately gained 3 percent.
Oil prices are falling slightly
Brent crude oil from the North Sea fell by 0.2 percent to $64.78 per barrel (159 liters). US oil WTI was 0.3 percent weaker at $60.32.
Oil prices largely hold on to their gains from the previous trading day. Investors are hoping for signs of easing in the trade conflict between the USA and China, clouding the outlook for economic growth and fuel demand.