A flood of company balance sheets kept European investors busy on Wednesday. Of the dax increased by one percent to 13,588 points. The rise in the leading German index was slowed down somewhat by the losses in automobile stocks. M-Dax and S-Dax, on the other hand, gained 1.6 and 2.1 percent respectively. “Investors continue to welcome a positive earnings season as companies have shown resilience in an uncertain economic environment,” said Activ-Trades analyst Pierre Veyret. Fading fears of an escalation in the dispute over US top politician Nancy Pelosi’s visit to Taiwan also had a positive effect. “The first Chinese responses to Nancy Pelosi’s visit to Taiwan have been relatively mild,” said portfolio manager Thomas Altmann of wealth manager QC Partners.
With a discount of 5.6 percent, the BMW share was the weakest value in the Dax. The automaker’s profit was better than expected. However, BMW warned of a difficult second half of the year amid inflation, gas shortages and supply chain bottlenecks. The figures for the third quarter of Siemens Healthineers were also disappointing. The stock fell 1.1 percent. One trader called the past quarter “a major failure.” The medical technology group was hit by lower demand for rapid corona tests and the lockdowns in China. In contrast, Infineon scored with its business figures. The chip manufacturer convinced, among other things, with an increased sales outlook. With a plus of five percent, the Infineon share was one of the top values in the Dax. In the S-Dax, the shares of the used car dealer Auto-1 went up by almost 13 percent after good results in the second quarter. Wall Street was firmer. Of the Dow Jones was 1.1 percent higher at 32,739 points in the middle of trading. Paypal’s shares stood out with a jump in price of almost ten percent. The payment service provider had announced that the hedge fund Elliott had become one of the largest shareholders with an investment of more than two billion dollars. There will also be a new share buyback program.