A wave of corporate numbers has died dax– Investors kept on their toes on Wednesday. However, many investors remained cautious because of the US interest rate decision due in the evening after the close of stock markets in Europe. The energy crisis also continued to cause restraint. As announced, Russia has further restricted gas supplies via the Nord Stream 1 pipeline. The leading German index closed half a percent higher at 13,166 points.
Meanwhile, the reporting season in Germany continued to gain momentum. The sporting goods manufacturer Adidas lowered its forecast. The reasons for this are a slower recovery of business in China due to the corona-related lockdowns and an expected weaker consumer mood in other countries. The shares fell as the weakest Dax value by 5.3 percent. The rival Puma raised the sales forecast, but the papers were still 4.5 percent in the red. In addition, the chemical group BASF, the diagnostics specialist Qiagen and the car manufacturer Mercedes-Benz have increased their targets for 2022. Mercedes-Benz gained 3.7 percent, Qiagen 0.9 one percent. BASF papers gave way by 1.3 percent, here the impending gas supply stop is the sword of Damocles. Shares in Deutsche Börse rose by 2.3 percent. The stock exchange operator is becoming somewhat more optimistic again after a strong result in the second quarter.
In New York, investors reacted with relief to the interest rate decision by the US Federal Reserve. Of the Dow Jones was up 1.4 percent at the close of trading. The Fed raised interest rates by 0.75 percentage points to between 2.25 and 2.5 percent. Recently, there had also been speculation about an increase by a full percentage point. “By raising the key interest rate by 75 basis points, the Fed has taken a step in line with the market, which on the one hand clarifies its commitment to stability and on the other hand avoids major economic risks,” said Michael Heise from HQ Trust.
In terms of companies, Microsoft and Alphabet’s quarterly results did not meet market expectations in some cases, but they increased their sales. Microsoft was relieved by an upbeat outlook and Alphabet’s surprisingly robust ad revenue. Microsoft shares were up 6.7 percent, Alphabet up 7.7 percent.