10 p.m. – US stock markets close with little movement
The US stock markets went into the weekend with little movement. According to the inflation data from Thursday, investors increasingly held back on the last trading day. The Dow Jones fell 0.3 percent, the Nasdaq stood still. However, both indices were able to gain on a weekly basis.
There were some downward outliers among the individual values: Boeing shares were again under pressure (-2.2 percent) after the American aviation safety authority FAA expanded its investigations. The shares of US airlines such as American Airlines, United Airlines and Delta Airlines also fell by up to ten percent. Delta’s weak numbers weighed on the industry, as did a winter storm in the Midwest that caused thousands of flight cancellations and delays.
6.40 p.m. – Bavarian stock exchange companies in a weekly review
On the stock exchange this week, 24 Bavarian stock corporations recorded a plus and twelve companies from Bavaria recorded losses. The overview as of Friday 5:50 p.m.:
This week, the Bavarian companies Atoss (10.9 percent), Rational (10.1 percent) and Siemens Energy (7.4 percent) recorded the largest profits.
The highest price losses this week were recorded by Morphosys with -11.2 percent, Wacker Chemie with -5.1 percent and BayWa with -4.7 percent.
💡 From the Munich Stock Exchange (gettex) we obtain the price data of the companies listed in the DAX, MDAX and SDAX with their headquarters in Bavaria, which we use with the help automated data processing convert to text. The current prices from today, Friday, January 12th at 5:50 p.m. are compared with the values from Friday, January 5th at around the same time.
5:50 p.m. – Market report: Airbus, Siemens Energy and others
Among the DAX stocks, 25 stock corporations are recording gains and 15 companies are recording losses. The overview as of 5:50 p.m.:
Airbus recorded the highest price gain to date among the listed companies in the DAX. The share price rose by 3.5 percent. The shares of Siemens Energy (+3.3 percent) as well as Merck and Rheinmetall (each +2.5 percent) were also able to increase.
The previous worst performers are Porsche Holding SE with -2.3 percent, Porsche AG with -2 percent and BMW with -1.7 percent price losses.
💡 We obtain price data from the Munich Stock Exchange (gettex), which we use with the help automated data processing convert to text. The last status of the data is 5:50 p.m., the development is calculated since shortly before 6 p.m. on the last trading day. For the accuracy of the information we take no responsibility.
5.30 p.m. – Conciliatory weekly close on the DAX: +0.9 percent
After the German leading index had partly sought its direction this week, there was a conciliatory end to the week. While the DAX had posted losses the day before due to US inflation data, it rose again today. In the end it closed almost one percent higher at 16,705 points. The MDAX also gained 0.9 percent.
This means that the weekly conclusion for the DAX is also positive. Compared to last Friday, it gained around 0.7 percent. After two more weeks of trading in January, it is also clear: the euphoria of investors from last December did not last into the new year.
4:05 p.m. – A friendly end to the week for the DAX
The German stock market is heading into the weekend with robust gains. In later trading, the DAX rose by 1 percent to 16,711 points. At the top of the list of winners are the shares of Siemens Energy with a price increase of 4.5 percent. Airbus can increase by 3.5 percent. Last year, the aircraft manufacturer significantly increased both the number of aircraft delivered and the number of new aircraft ordered and clearly left its competitor Boeing behind.
3:35 p.m. – Wall Street opens with profits
The US stock exchanges started trading with profits. Investors are looking at the quarterly figures from financial groups and the airline Delta Air Lines. Delta shares fell by more than 6 percent after a lowered profit forecast. JP Morgan increased its profits significantly last year. The financial giant’s shares rose by more than 2 percent in early trading.
2:30 p.m. – JP Morgan with record profits
The sharp rise in interest rates gave the major US bank JP Morgan the highest profit in its history in 2023. With almost 50 billion dollars, the financial institution earned almost a third more than in the previous year, as it announced in New York. In the fourth quarter, however, the bank surprisingly suffered a decline in profits. There, higher risk provisions for impending loan defaults had a negative impact. Most importantly, the bank had to pay $2.9 billion into the deposit protection fund after it had to step in due to the collapse of Silicon Valley Bank (SVB) and Signature Bank last year.
1:35 p.m. – Delta Air Lines lowers outlook
Delta Air Lines has lowered its profit forecast for the current year, citing supply chain problems and economic uncertainty. In the fourth quarter of 2023, however, the Atlanta-based airline beat market earnings estimates thanks to strong holiday trading. Delta shares initially fell before the trading session, and the shares of other US airlines were also initially in the red before the start of trading on Wall Street.
1:05 p.m. – Oil prices continue to rise
Oil prices have risen sharply since morning. A military strike by the USA, Great Britain and other allies against the Houthi rebels in Yemen increased concerns about an escalation of the situation in the Middle East shortly before the weekend and drove up oil prices, market observers said. The price of Brent crude oil has risen above the $80 per barrel (159 liters) mark for the first time since the end of December. A barrel of North Sea Brent for delivery in March costs $80.60 at midday. That is 4 percent more than on Thursday.
12.10 p.m. – Porsche shares under pressure according to numbers
The mood on the German stock market is friendly at the end of the week. The DAX rose by 0.8 percent to 16,678 points at midday. Bucking the trend, Porsche shares fell by 2.2 percent. The market is thus reacting negatively to the Stuttgart car manufacturer’s figures. Porsche had to accept a significant drop in sales in its largest market to date, China, last year and is also expecting a difficult year there in 2024. However, the company was able to make gains in Europe and North America. Overall, sales rose by 3 percent.
11:18 a.m. – China is in deflation
While inflation remains stubborn in Germany, Europe and the USA and even accelerated somewhat in December, there is deflation in China. Consumer prices in the People’s Republic fell for the third month in a row in December, falling by 0.3 percent compared to the same period last year, the statistics office in Beijing said. Over the entire past year, prices rose by an average of 0.2 percent, the slowest rate since 2009. The official target of around three percent was missed. This clearly shows the weakness of domestic demand in China, which is slowing down an economic recovery, according to the markets. Experts expect that China’s central bank will soon take action and possibly lower the key interest rate in the coming week and pump more money into the economy.
Small losses were recorded on the Chinese stock exchanges today. In this country, however, the DAX is now rising by 0.9 percent to 16,690 points. The euro is at $1.0960.
10:12 a.m. – Oil prices are rising sharply
After the attacks by the USA and Great Britain on several military installations of the Houthi rebels in Yemen, the price of oil continues to rise. The barrel of North Sea Brent for delivery in March has increased in price by more than two percent and now costs 79 dollars 20. A similar picture emerges for US light oil of the WTI variety. It is the first time the Iran-backed Houthi rebel group has been fought since it began attacking international ships in the Red Sea late last year. And in the markets, the attacks in Yemen are seen as an extension of the war in the Gaza Strip. Investors fear a further escalation of the conflict, which could of course also affect oil supplies. The DAX is still friendly. He gains one percent to 16,710 points. The euro stands at 1 dollar 09 78.
09.15 – DAX starts in positive territory
The annual reporting season starts today in the USA. Traditionally, the large US banks are the first to present their current quarterly reports. Business figures will be available today, among others, from JPMorgan Chase, Bank of America, Citigroup and Wells Fargo. Analysts expect fourth-quarter profits to be lower compared to the same period last year. Things should get exciting with the share prices. In advance, the DAX is likely to start the last trading day of the week with profits. The DAX started with a plus and is now up 0.9 percent to 16,701 points. The euro is at 1.0976.
9:14 a.m. – Porsche is selling fewer cars in China
The Stuttgart sports car manufacturer Porsche is feeling the effects of the economic weakness in China. Sales in the People’s Republic fell by 15 percent last year to 79,283 vehicles. This means that China is no longer in the top position as the most important individual market for Porsche. It now goes to North America. In total, Porsche sold 320,221 vehicles worldwide last year, three percent more than a year ago. With the exception of China, there was a significant increase in all important regions. Demand for the classic 911 rose particularly strongly, with sales increasing by 24 percent.
Shortly after the start of trading on the German stock markets, Porsche shares lost 0.8 percent, bucking the friendly overall trend.
7:22 a.m. – Attacks in the Red Sea have consequences for Tesla
The electric car manufacturer has announced that it will largely stop production at its factory in Grünheide, Brandenburg, for two weeks due to attacks by Houthi rebels on ships in the Red Sea. Tesla explained that significantly longer transport times as a result of the conflict created a gap in the supply chains. Due to missing components, vehicle production in the Berlin-Brandenburg Gigafactory was forced to stop from January 29th to February 11th, with the exception of a few areas. Production should return to normal from February 12th.
7:12 a.m. – Nikkei with a positive weekly balance
Because of a public holiday on Monday, there was only four days of trading in Tokyo this week, but a lot of ground was made up. The Nikkei index jumped past the psychologically important 35,000 mark yesterday and went one better today. It closed with an increase of 1.5 percent to a final score of 35,577 points, the highest in 34 years, and thus gained 2,200 points over the week. The euro is at 1.09 78 dollars.
6:18 a.m. – Mixed picture in China’s economy
Chinese exports rose 2.3 percent in December compared to the previous year, better than expected. Economists had only expected an increase of 1.7 percent. The data suggests global trade is slowly recovering after higher interest rates in the US and Europe dampened demand in 2023. In contrast, consumer prices in China fell for the third time in a row in December. And factory prices also continued to decline. So the deflation in the economy continues. And that speaks to weak domestic demand and ongoing problems in China’s domestic economy.
The stock indices on the Chinese stock exchange have shown little change at the moment. In Tokyo, however, the Nikkei index rose 1.2 percent. The euro is at $1.0980.