Slight gains: DAX should continue to drag itself forward


market report

Status: 01/24/2023 07:39 a.m

Even if the momentum dwindles more and more, the DAX is still creeping forward. Whether it stays on course will depend primarily on the reporting season, which is picking up steam these days.

The broker IG estimates the leading German index 0.2 percent higher at 15,133 points before the Xetra start. A week ago, at 15,269 points, the DAX had reached its highest level since February 2022, gaining almost ten percent in the young year.

What’s next? The DAX could find it difficult to pick up momentum again, especially since good sentiment among companies and consumers not only had a positive effect, but also represented a negative factor due to higher interest rate expectations, write the experts at Helaba in their daily outlook.

Yesterday, the leading index closed 0.5 percent higher at 15,102.95 points. After the rally at the start of the year, investors are now waiting for impetus from the reporting season, which will pick up speed in the coming days. Now the corporate profits as “fuel on the stock exchanges” would have to justify the price increases, explained analyst Thomas Altmann from QC Partners.

Wall Street in good shape

The US specifications offer the German stock exchange good specifications: the abated fear of interest rates and recession is driving prices on Wall Street further up. The Dow Jones closed 0.8 percent higher at 33,629 yesterday ahead of a flood of corporate balance sheets. The S&P 500 gained 1.2 percent to 4019 points. The tech-heavy Nasdaq advanced 2.0 percent to 11,364 points.

Nikkei continues to grow

In Japan, the Nikkei closed up 1.5 percent to 27,299 points. “With a slew of earnings releases from domestic companies due today, we’re not sure where the market is headed. Earnings need to be strong to maintain this momentum,” said Chihiro Ohta, deputy general manager at SMBC Nikko Securities’ Investment Research and Investor Services.

Stock markets in China, Hong Kong, Singapore, Malaysia, South Korea and Taiwan are closed for the Chinese New Year celebrations.

Rheinmetall: 29 ring exchange leopards ready in spring

According to the armaments company Rheinmetall, the Leopard battle tanks planned for the so-called ring exchange campaign with Slovakia and the Czech Republic will be ready for repair in the spring. “These tanks belong to the federal government. They can do what they want with them,” said CEO Armin Papperger to “Stern”.

Musk defends tweets in investor lawsuit

Tesla CEO Elon Musk has defended his choice of words in 2018 tweets that sparked a potentially costly investor lawsuit. Most notably, his claim that funding was secured to take Tesla private at a price of $420 per share. Musk argued that his stake in space company SpaceX alone was enough to secure such a deal. The investment fund of Saudi Arabia has also pledged support.

Watch group Swatch hopes for record sales in 2023

Swatch increased sales in 2022 by 2.5 percent to 7.5 billion francs. While sales in China dropped due to corona lockdowns, business in all other regions picked up significantly, the watch manufacturer said. Profit increased to 823 (previous year 774) million Swiss francs. Solid sales figures in mainland China in January bolster Swatch’s expectation that 2023 could be a record year.

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