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Dax recovers slightly - reporting season gets off to a strong start
Stocks Frankfurt: Bayer tries to bottom out - DAX stabilizes after correction. Expert opinions on developments on the German stock market. Find all information here!
Dax recovers slightly - reporting season gets off to a strong start
The Dax experienced a slight recovery from the three-week correction on Monday and rose by around half a percent to 17,832 points in the early afternoon. The MDax also improved by 1.2 percent to 25,304 points. The EuroStoxx 50 recorded an increase of 0.3 percent.
At the beginning of April, the DAX reached a record high of 18,567 points, followed by a strong start to the year with almost eleven percent growth. Since then, the index has corrected due to increased geopolitical risks and an unclear monetary policy direction in the USA. Interest rate developments in the US have caused uncertainty and attention is now turned to the 50-day average line, which acts as an indicator of the medium-term trend.
The upcoming reporting season will shape the stock markets this week. SAP will kick things off, with CEO Christian Klein expecting positive growth in cloud and adjusted operating profit. SAP shares showed some volatility on Monday after losing over 11 percent of their value in the last four weeks.
Bayer tried to bottom out at its lowest level since 2005 with a share price increase of up to 4.7 percent. JPMorgan analyst Richard Vosser forecast solid business figures for the company, but warned that income from the pharmaceutical business may not be enough to compensate for the uncertainties surrounding the US legal disputes.
RWE, on the other hand, recorded a share price decline of up to 3 percent after the US state of New York broke off negotiations for large offshore wind projects. However, Barclays analyst Peter Crampton sees this decline as an opportunity as it does not have a significant impact on the group's balance sheet.