Stock markets recover, chip industry in focus: market report March 29, 2023

Stock markets recover, chip industry in focus: market report March 29, 2023

According to a report from www.tagesschau.de, the stock markets were able to successfully suppress the banking crisis thanks to positive news from the chip industry. The Nasdaq 100 technology index rose 1.87 percent, while the Dow Jones rose 1.0 percent. The German stock market also recorded an increase of 1.2 percent with the DAX.

Nevertheless, experts warn against premature willingness to take risks on the part of investors, as further unpleasant news regarding the banking crisis could arrive. In Germany, national debt rose to a record high due to spending related to the corona pandemic and the energy crisis.

Although consumer sentiment in Germany has improved, the momentum is noticeably slowing. The euro barely gained any ground against the US dollar, while oil prices fell again despite an unexpected decline in US oil reserves.

Infineon recorded an increase in the second quarter of the 2022/23 financial year and raised its forecast, while SMA Solar also raised its forecast for 2023 due to a strong start to the new year.

The automotive supplier Leoni is about to be rescued by the Austrian entrepreneur Stefan Pierer, who wants to provide fresh capital. Mercedes-Benz, however, suffered a setback as the Kuwaiti state reduced its stake in the carmaker. The sporting goods manufacturer Adidas withdrew a previously filed opposition to a trademark application by the Black Lives Matter Global Network Foundation.

Travel group TUI's capital increase continued to weigh on shares, while United Internet's costs slowed profit growth last year. Basler expects a significant decline in sales due to cooling demand, while Kontron raised its profit outlook for the current year.

These developments could have an impact on the market as investors should continue to monitor for any unpleasant news related to the banking crisis. Consumer sentiment and euro exchange rate fluctuations could also influence market developments. However, the forecast increases from companies such as Infineon and SMA Solar are sending positive signals to the market.