10:06 p.m. – US stock markets mixed
The German stock market has had its most successful week since March. The DAX closed at 16,105 points, a weekly gain of 3.2 percent. The US stock markets tended to be mixed. The Dow Jones advanced 0.3 percent. The Nasdaq closed slightly lower. The euro traded at $1.1235.
9 p.m. – Tesla comes to the IAA Mobility in Munich
The US electric car manufacturer Tesla will be taking part in the IAA Mobility trade fair in Munich in September. According to the Association of the Automotive Industry (VDA), Tesla will present its vehicles on the Königsplatz in the so-called Open Space, which will be used as a festival site, exhibition area and test track. The VDA had been in talks with the company for some time, said a spokesman. Two years ago, attempts were made – albeit unsuccessfully – to bring the company to Munich. Tesla rarely takes part in trade fairs and usually shows its innovations at its own events, which are broadcast on the Internet.
8:05 p.m. – Drägerwerk back in the black
The medical and safety technology group Drägerwerk has jumped in sales in the second quarter thanks to better delivery capabilities and made operational profits again. Currency-adjusted sales rose by more than a fifth to around 770 million euros compared to the same period last year, as the company, which is listed in the SDAX small-cap index, surprisingly announced in the evening in Lübeck. In terms of earnings before interest and taxes (EBIT), Drägerwerk was back in the black: for the second quarter, operating profit totaled around 19 million euros after an operating loss of 77 million euros in the same period of the previous year. Management intends to present the full results on July 27th.
7.35 p.m. – DAX with 3.2 percent weekly plus
It was the most successful week since March for the German stock market. The DAX gained 3.2 percent over the course of the week. The market thus reacted very positively to the development of inflation, especially in the USA. The inflation rate there for June was only 3.0 percent and thus below the forecasts of experts.
Weekly review: Bavarian companies on the stock exchange
A look at the 36 Bavarian companies on the stock exchange: This week the stock exchange sees 30 stock corporations from Bavaria with price gains and six Bavarian companies with losses. Below is the status as of Friday (5:50 p.m.):
At the end of this week, Nagarro recorded the highest price gain among the listed Bavarian companies on the DAX, MDAX and SDAX. The share price increased by 10.1 percent. The papers from Siltronic (+9.1 percent) and Puma (+8.9 percent) can also increase.
In comparison, the week was the worst for Patrizia. The stock is down 9.7 percent from the previous week. Dermapharm Holding loses 4.3 percent of the market value, Morphosys becomes cheaper by 3 percent.
💡 We obtain the price data of the companies listed in the DAX, MDAX and SDAX with headquarters in Bavaria from the Munich Stock Exchange (gettex), which we convert into text using automated data processing. The current prices from today, Friday, July 14 at 5:50 p.m. are compared with the values from Friday, July 7 at around the same time.
5:50 p.m. – Market report: Deutsche Börse AG, Deutsche Telekom, Fresenius and others
A look at the 40 German companies in the DAX: Today the stock exchange sees 15 stock corporations with price gains and 25 companies with losses. Below is the status as of today (5:50 p.m.):
Deutsche Börse AG has so far recorded the highest price gain of 0.8 percent among the companies in the DAX. Deutsche Telekom and Fresenius are in second place with +0.7 percent each and SAP with +0.6 percent.
Brenntag recorded the highest price losses at -3.5 percent, BASF at -2.5 percent and Commerzbank and Siemens Energy at -1.4 percent each.
💡 We obtain price data from the Munich Stock Exchange (gettex), which we convert into text using automated data processing. Last status of the data is 5.50 p.m., the development is calculated since shortly before 6 p.m. of the last trading day. For the accuracy of the information we take no responsibility.
5:38 p.m. – DAX falls by 0.2 percent
At the end of the week, the German stock market trended somewhat lighter. The DAX fell by 0.2 percent to 16,105 points. The biggest loser among the standard values was the Brenntag share with a minus of 3.2 percent.
3.45 p.m. – US banks are benefiting from the turnaround in interest rates
Some banks in the US are benefiting from the US Federal Reserve’s turnaround in interest rates. The higher interest rates lead to higher income from lending by financial institutions. The largest US bank, JP Morgan, reported a jump in profits in the second quarter. The surplus jumped 67 percent to $14.5 billion. Because the business with bonds, shares and commodities was better than expected by experts. Shares are up 1.8 percent. The US bank Wells Fargo also reports a jump in profits in the past quarter to over 4.9 billion dollars. Again, it’s going up, by 2.4. At Citigroup, however, things weren’t going so well. Weakness in trade has pushed the big bank’s surplus down 36 percent to just over $2.9 billion. The titles lose 0.9 percent.
On Wall Street, the Dow Jones starts 0.5 percent higher and that supports the German stock exchanges, the DAX is stationary at 16,132.
3:15 p.m. – US reports lower import prices
In the US, there is another indication of easing price pressures. American imports fell by 6.1 percent in June compared to the same month last year. This is the sharpest decline in more than three years, according to the Washington Department of Labor. Imported fuels did rise in price, but this was more than offset by declines in all other areas. As a rule, falling import prices – albeit with a time lag – result in falling general rates of price increases. This further eases the pressure on the central bank. However, it is still expected that the US Federal Reserve will raise its key interest rate again this month. How things will continue after that will probably depend on the development of prices and the labor market.
2.04pm – JP Morgan is making great money
The largest bank in the USA, JP Morgan, also made good earnings in the second quarter, thanks to the sharp rise in interest rates and the resulting significantly higher income from the lending business. In addition, the business with bonds, shares and commodities was better than expected by experts. The surplus jumped 67 percent to $14.5 billion. Earnings increased by a good third, to $41.3 billion – and thus at an even faster pace than at the start of the year. JPMorgan beat analyst estimates on both stocks. Bank stocks rose in pre-market trading in the US.
12:23 p.m. – Audi is catching up – but remains behind BMW and Mercedes
In terms of sales in the first half of the year, Audi was able to make up ground against BMW and Mercedes-Benz. The Ingolstadt VW subsidiary sold more than 907,000 vehicles during this period. That is 15.5 percent more than in the same period last year. The month of June was even the best June ever, they say. BMW was able to increase sales by 4.7 percent in the first half of the year, Mercedes-Benz by six percent. However, the Munich-based company is still at the top in absolute terms, with 1.07 million vehicles sold, closely followed by Mercedes with 1.02 million.
11.09 am – EU exports fall
In view of the weak global economy, the euro countries exported less in May. Exports of goods to the rest of the world fell by 2.3 percent compared to the same month last year to around 242 billion euros, according to the European statistics office Eurostat. The global economy is being burdened by high inflation in many countries, which not only reduces purchasing power but has also prompted the central banks to raise interest rates. This makes loans for investments, for example in machines and vehicles, more expensive and of course this puts a strain on foreign trade – including trade between the euro countries. It fell by an above-average 5.7 percent to around 226 billion euros. Outside the currency area, the most important customer of the EU is still the USA, with a clear lead.
A few profits are taken on the German stock markets. The DAX lost 0.2 percent to 16,105 points. If things stayed that way, the DAX would have gained around 500 points over the week as a whole. The euro stands at $1.1240.
9.17 a.m. – DAX starts with small price losses
After the strong gains of the last few days, the DAX is a little lighter at the start of trading. He now loses 0.1 percent to 16,124 points. The focus on the markets is the start of the US accounting season, which is traditionally heralded by the US banks. The big banks Wells Fargo, Citigroup and JPMorgan will be the first companies to open their books. The picture may be mixed. On the one hand, the institutes are helped by the higher interest rates, since customers have to pay more for their loans. On the other hand, the demand for loans is weakening.
In this country, there was already current data on prices in German wholesale tomorrow. In June, they fell significantly by 2.9 percent compared to the previous year. The euro has weakened again somewhat to 1.1207 dollars.
08.42 – Nikkei closes small in the red
The leading Japanese index was 0.1 percent lighter at the end of the weekend at 32,391 points. The focus was on speculation about an investment by the Japanese carmaker Nissan in Renault. According to a newspaper report, Nissan wants to invest around 100 billion Japanese yen, which is the equivalent of 725 million dollars, in Renault’s new electric vehicle unit. This is reported by the Japanese newspaper “Yomiuri Shimbun”. The Japanese automaker agreed yesterday with its French partner on the terms of a contract and the amount of the investment in the electric vehicle unit Ampere, the newspaper said, citing an insider. A spokesman for Nissan only confirmed that talks between the two companies were taking place, but no agreement had yet been reached. Nissan shares lost around two percent today in Tokyo.
The DAX is seen around 10 points lighter at 16,130 points before the market. The euro is trading at 1.12 14.
7:09 a.m. – Friendly atmosphere on the stock exchanges
Investors are turning to stocks again. Declining inflation worldwide is fueling hope that the restrictive monetary policy of the central banks and the rising interest rates could soon come to an end. In the USA, Spain and France, inflation rates fell this week and this put the markets in a buying mood. Interest-sensitive technology stocks were in particularly high demand yesterday on the New York stock exchanges. That brought the Nasdaq index up 1.6 percent, the Dow Jones on Wall Street advanced 0.1 percent. In Tokyo, investors are following the friendly US trend. The leading Japanese index, the Nikkei, gained 0.2 percent, and in Shanghai the Shanghai Composite Index was up 0.3 percent. The euro stands at 1.1235 dollars.