In Thursday’s trading session, the German benchmark index, the DAX, recorded moderate gains, opening slightly lower at 18,498.09 points before rallying into positive territory, approaching its record high by just a few points. Meanwhile, the TecDAX showed marginal upward movement after an initial drop of 0.01 percent to 3,350.25 points.
From the economic front, China’s latest trade data signals a potential rebound, with exports and imports both showing an increase in April. “While the trading cues from the U.S. were mixed, those from Asia were predominantly positive,” Andreas Lipkow from QC-Partners was quoted by dpa-AFX. He added, “The trade data from China suggests a continued economic recovery, which could positively affect German companies heavily reliant on exports.” However, Altmann noted that Chinese imports from Germany have declined year-over-year once again.
On the corporate front, several companies are under the spotlight:
- Berenberg has raised its price target for Munich Re.
- Former BASF CEO, Brudermüller, has been appointed the new chairman of the Mercedes supervisory board.
- Deutsche Bank’s CEO highlighted ongoing challenges with the integration of Postbank.
- Barclays downgraded Siemens Energy to ‘Equal Weight’.
- Beyond Meat continues to struggle, still deep in the red.
- Airbnb significantly surpassed expectations.
In the tech sector, signals were mixed. Chip developer Arm did not meet expectations with its revenue forecast for the current fiscal year, which has not resonated well with investors.
These diverse financial narratives depict a landscape where optimism in economic recovery from major markets like China intersects with individual corporate strategies and challenges, shaping a complex but cautiously optimistic market outlook.