The index heavyweight SAP has again raised its forecast Dax-Investors put in a buying mood on Wednesday. The leading German index rose by 0.6 percent to 15,240 points by the afternoon. However, stockbrokers did not expect too significant jumps in the Dax. Many investors are too concerned that rising energy prices will slow down economic growth and cloud corporate outlooks. The potential for negative surprises in the upcoming reporting season is not insignificant, predicted Christian Henke from broker IG Markets. In the coming days, the focus will be primarily on the USA, where the big banks are opening the balance sheet for the third quarter. In addition to the reporting season, fears of a tightened monetary policy by the US Federal Reserve also kept investors in suspense. Recently, there have been increasing signs that the tapering of monthly bond purchases could begin in November.
Among the individual values, the SAP share was one of the favorites in the Dax with a plus of 3.8 percent. Europe’s largest software manufacturer earned significantly more than expected in the past quarter and has therefore increased its business outlook for the third time within a few months. Sartorius was also asked for a buy recommendation. The shares of the laboratory equipment supplier gained 3.9 percent. On the losing side, banking stocks went downhill. Deutsche Bank fell two percent in the Dax, while Commerzbank shares fell 3.3 percent in the M-Dax.
In contrast, Fraport shares rose by one percent. The passenger business at Frankfurt Airport weakened somewhat after the end of the summer vacation in September. Outside the major indices, the biofuel manufacturer Cropenergies was depressed by higher raw material and energy prices on the results in the second fiscal quarter. The titles sagged by more than ten percent.
He noted on Wall Street Dow Jones slightly in the red after an hour of trading. Here JP Morgan opened the accounting season. Booming global mergers and acquisitions helped the largest US bank grow profits in the third quarter. Although the institute exceeded expectations with its numbers, the share lost 1.8 percent.