Thanks to a series of encouraging company reports, the Dax its profits from the beginning of the week expanded further. The German leading index climbed by one percent to 15,757 points on Tuesday. It looks as if the year-end rally on the stock exchanges is already underway, “says Jochen Stanzl from online broker CMC Markets. Analysts described the reporting season, which began in Europe and is already well underway in the US, as robust. Nevertheless Olivier de Berranger of the French fund company LFDE warned against being too cocky, adding that there were still concerns that economic activity would weaken more rapidly and earlier than expected Supply chains – there are many aspects that could dampen investor sentiment.
In this country, however, the joy of the leaps in growth and confident outlook of numerous companies outweighed the moment. The shares of Kion rose after strong growth in the third quarter by 6.2 percent and were thus among the front runners in the M-Dax. The Pfeiffer Vacuum stocks went up by almost ten percent in the S-Dax. The vacuum pump manufacturer benefited from the ongoing boom in the chip industry and raised its annual targets.
For the titles of K + S, however, the M-Dax went down by 9.7 percent at the top. The salt and fertilizer manufacturer has to be patient when bringing its disposal activities into a joint venture with the recycling group Remex and will therefore probably miss its previous earnings target for 2021. Meanwhile, the electronics company Ceconomy recently had a good online business. The operator of Media Markt and Saturn achieved the financial forecasts in the financial year. The Ceconomy share rose by almost seven percent.
Corporate balance sheets also brightened sentiment on Wall Street. Of the Dow Jones improved slightly to a new record of 35,757 points. Strong demand in all segments brought the US parcel service UPS a significant leap in profits and sales in the third quarter. The UPS share rose 6.9 percent and was listed as high as never before.