market report
Status: 01/27/2023 07:39 a.m
After strong trading on Wall Street, the DAX should start the last trading day of the week with gains. Will the leading German index finally achieve the liberation?
Thanks to the good specifications from Wall Street, the German stock market is showing slight gains at the end of the week. The broker IG estimates the 40 German standard values 0.3 percent higher at 15,178 points.
Important hurdle ahead in the DAX
The DAX should thus completely close the downward price gap (15,134/15,157 points) that opened in the previous week. That would pave the way towards the high for the year at 15,270 points. But only an increase above that would spark a new upward momentum in the DAX. In the course of the week, the leading German index had remained in a narrow trading range of around 200 points.
US tech stocks showing strength
Tailwind for the DAX comes from the US stock exchanges: Investors on Wall Street are cautiously optimistic after robust US economic data and strong figures from Tesla. The Dow Jones Index of Standard Values closed yesterday up 0.6 percent at 33,949 points. The tech-heavy Nasdaq advanced 1.8 percent to 11,512 points. The broad S&P 500 gained 1.1 percent to 4060 points.
Nikkei with slight gains
Investors in Japan acted cautiously in the morning. The leading index Nikkei, which comprises 225 values, ended the weekend with an increase of 0.1 percent to 27,383 points. The stock markets in China remain closed again due to the Chinese New Year celebrations. Markets open again on January 30th.
Euro back below 1.09 dollars
The euro has slipped back below the $1.09 mark in Asian forex trading. Currently, 1.0869 dollars are paid for one euro. The euro was recently driven by the expectation of further large ECB rate hikes. An ounce of gold is trading at $1925 this morning.
Verdi calls again for warning strikes at the post office
In the DAX, the focus is once again on the Post share. The Verdi services union is increasing the pressure with further strikes in the wage conflict with the company. For today, Verdi is calling on employees in selected companies in the parcel and letter centers as well as in parcel, letter and group delivery nationwide to go on all-day strikes.
Uniper works council chief warns federal government against break-up
The employee representatives of the nationalized energy company Uniper have warned the federal government against breaking up the largest German gas company. “Uniper must be preserved as an entire group, this is the only way we can also secure the German energy supply,” said works council chief Harald Seegatz in a previously published report by the “Rheinische Post”.
Luxury goods group LVMH reports a record year
EuroStoxx 50 heavyweight LVMH had a record year in 2022. Both sales and profit figures increased in double digits. The company announced yesterday in Paris that demand in Europe, the USA and Japan in particular has increased significantly. Among the group’s many brands, Louis Vuitton in particular stood out positively.
Visa increases profits and revenues strongly
The credit card giant Visa continues to make excellent earnings despite high inflation and fears of a recession. In the first business quarter (to the end of December), revenues increased by twelve percent year-on-year to $7.9 billion, as Visa announced after the US stock market closed. Net income climbed 6 percent to $4.2 billion.
Bed Bath & Beyond faces bankruptcy
Troubled US furniture store Bed Bath & Beyond has defaulted on a loan repayment. The company received a payment request from its bank, JPMorgan Chase, according to a statement to the Securities and Exchange Commission. Bed Bath & Beyond examine all strategic alternatives up to bankruptcy.
Chip group Intel expects loss
The record slump in PC sales is having a much greater impact on Intel’s sales than expected and is likely to push the group into the red in the current quarter. After the presentation of the quarterly balance sheet and a pessimistic forecast by the group, Intel shares fell by seven percent after the close of trading in New York.