The DAX started the trading day 0.7 percent higher at 16,977.75 points. Ultimately, the DAX gained 0.35 percent to 16,918.21 points, and with the daily high of 17,004.55 points, the stock market barometer reached a new all-time high. The new record is only just above the previous record of 17,003.28 points.
US tech giants provide tailwind
In the morning, good guidelines from New York also spilled over into Asia, where technology also plays a major role. The evening before, after the US stock market closed, at least the strong numbers of two technology giants caused price jumps with Amazon and Meta, which continued to keep the mood on the NASDAQ stock exchanges high on Friday. Of the big three whose numbers need to be processed overnight, only Apple’s initial reactions were muted.
Deutsche Bank share – Strong numbers, but…
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US labor market data slowed the DAX rally
However, after the presentation of the US labor market data, the DAX moved further away from the new all-time high. The unemployment rate was 3.7 percent in January, within expectations. Average hourly wages, however, rose more than expected (0.3 percent) by 0.6 percent. The number of new non-agricultural jobs created was 353,000 in January, after 333,000 in the previous month. Here the forecasts were 187,000.
German blue chips at a glance based on balance sheets
Among the individual stocks, the focus was on E.ON shares. The energy supplier exceeded its own targets with its annual figures and market expectations with its profit adjusted for special effects. In an initial reaction, UBS analyst Wanda Serwinowska rated the key data as neutral for the shares. More important are the business outlook for 2024 and the business plan up to 2028, which are expected when the final figures are published in March.
The car manufacturer Mercedes-Benz achieved an unexpectedly high free cash flow of 11.3 billion euros in its industrial business last year. The Stuttgart-based company said that the development was due, among other things, to lower working capital.
Editorial team finanzen.net / dpa-AFX
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