Market report: report hunt with query marks | | EUROtoday

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As of: February 28, 2024 10:14 p.m

With costs over 17,600 factors, the German main index DAX was increased than ever earlier than on Wednesday. But a correction is changing into more and more probably – additionally due to a cautious Wall Street.

After their report hunt final week, the US inventory markets additionally recorded slight losses in the course of the week. The main index Dow Jones fell by 0.06 p.c.

The know-how shares on the Nasdaq misplaced slightly extra. The Nasdaq 100 choice index misplaced 0.54 p.c.

The reluctance of traders after the worth data on Friday was additionally justified by upcoming inflation knowledge. The core private consumption expenditure (PCE) value index will likely be launched on Thursday. The Federal Reserve pays specific consideration to this key determine. Experts count on the so-called PCE value deflator to extend by 0.4 p.c month-on-month.

According to the Commerce Department's second estimate, the US economic system grew an annualized 3.2 p.c within the fourth quarter. An preliminary estimate confirmed a rise of three.3 p.c. In 2023 total, the world's largest economic system grew by 2.5 p.c, after 2.1 p.c in 2022.

The DAX was additionally capable of attain a historic excessive right now. At the shut of buying and selling, the main index rose by 0.25 p.c to 17,601 factors. At one level he had reached 17,606 factors. That was the fifth report day in a row. “The fact that the daily new all-time highs are accompanied by skepticism about the discrepancy with the real economy does not seem to bother investors, who are now focusing their attention on the 18,000 mark, which is only 2.5 percent away,” commented capital market strategist Jürgen Molnar from Robomarkets.

“Setbacks are used to enter the market, which suggests that market participants have little concern about an impending consolidation or correction,” mentioned Landesbank Helaba, describing the scenario. In the USA, this conduct known as “FOMO” – “Fear of missing out”.

A correction is changing into more and more probably, warned IG analyst Christian Henke, declaring the carelessness of many traders: “Any concerns will be thrown overboard.”

The crypto market additionally continued to soar. Today, Bitcoin rose above the spherical $60,000 mark for the primary time since November 2021. This brings the report excessive of just about $69,000 nearer once more. Bitcoin has gained greater than 40 p.c for the reason that starting of the yr. “The number one driving force remains the approaching Bitcoin halving,” defined crypto knowledgeable Timo Emden from Emden-Research. This is an occasion in April the place the reward for verifying Bitcoin transactions will likely be halved.

The euro stays slightly below strain. In the night, one euro was paid at 1.0834 {dollars}, which corresponds to a minus of 0.1 p.c. A troy ounce of gold value $2,033, 0.2 p.c greater than yesterday.

Oil costs fell once more after the most recent US stock knowledge was printed. The USA's oil reserves elevated greater than anticipated by 4.2 million to 447.2 million barrels (159 liters). Late within the night, a barrel of North Sea Brent value $82.10, 0.3 p.c much less. Since the start of the yr, the Brent value has hovered across the $80 mark.

eBay shares rose towards the development on the Nasdaq. Thanks to sturdy demand for used gadgets and auto elements, the web retailer exceeded market expectations within the fourth quarter. Quarterly gross sales rose by two p.c to $2.56 billion. Analysts on common had anticipated $2.51 billion.

The meat different supplier Beyond Meat is giving traders new braveness with its newest quarterly figures. The inventory jumped by double digits in US buying and selling. The Californian firm exceeded market expectations final quarter regardless of a decline in enterprise. Sales fell by virtually eight p.c year-on-year to round $73.7 million, however analysts on common had anticipated an much more vital decline.

Dozens of media corporations across the Axel Springer publishing home have sued Google due to allegedly anti-competitive conduct in internet marketing. The Internet firm ought to pay 2.3 billion euros to compensate for losses incurred. “Without Google's abuse of its dominant market position, media companies would have generated significantly higher advertising revenue and paid lower fees for online advertising services.”

To assist their claims, the 32 plaintiff corporations referred to a 220 million euro advantageous that France imposed on Google in 2021 for alleged misconduct. The European Union can also be contemplating forcing the Alphabet subsidiary to promote this division. The firm has at all times denied the allegations.

Mercedes-Benz was probably the most sought-after shares within the DAX. The US financial institution Jefferies has upgraded the shares from “Hold” to “Buy” and raised the worth goal from 75 to 100 euros. Mercedes-Benz shares closed yesterday at 72.16 euros.

Bayer is once more taking motion within the USA towards a ruling on the weed killer Roundup that comprises glyphosate. The firm requested the eleventh U.S. Circuit Court of Appeals to overview a three-judge panel's choice within the David Carson case for a second time. It is the German firm's newest try to guard itself from Roundup-related lawsuits within the United States.

The specialty chemical compounds group Lanxess needed to take up particular prices of greater than half a billion euros in its steadiness sheet final yr, which frightened traders. The MDAX inventory misplaced virtually 4 p.c. The Cologne-based group had justified the burdens the night earlier than with goodwill write-offs in two divisions and worth changes in its minority stake within the plastics firm Envalior.

Lufthansa shares had been additionally beneath strain. The airline sharply criticized the ver.di union's warning strike on the know-how corporations and known as for fast negotiations within the collective bargaining dispute: “Specifically, we would like to continue the negotiations on March 4th, i.e. on the first working day after the end of the strike.” The aim stays a fast settlement. The subsequent spherical of negotiations was beforehand scheduled for March thirteenth and 14th. Meanwhile, additional strikes have gotten obvious inside the firm. The flight attendant union UFO known as on the cabin crew on the regional airline subsidiary Lufthansa CityLine to resolve on industrial motion in a strike vote by March sixth. Then the strike vote already underway on the mother or father firm ends.

Growth within the cellular communications and TV enterprise has introduced Freenet a rise in income in 2023. The working consequence (Ebitda) rose by 4.5 p.c to 500.2 million euros and was subsequently in keeping with expectations. Annual gross sales elevated by 2.8 p.c to round 2.63 billion euros, the MDAX firm introduced within the night. In the present yr, the working result’s anticipated to enhance barely at 495 to 515 million euros, in the most effective case state of affairs regardless of progress investments. A dividend of 1.77 euros per share ought to circulation to shareholders in 2023, after 1.68 euros a yr earlier.

The actual property group Patrizia is cautiously optimistic in regards to the present yr. However, the financial atmosphere stays a problem, the SDAX firm introduced within the night. The valuation strain on actual property ought to proceed. Earnings earlier than curiosity, taxes, depreciation and amortization (Ebitda) are anticipated to be between 30.0 and 60.0 million euros this yr. In 2023, the working consequence fell by 31.5 p.c to 54.1 million euros.

Auto1's outcomes solely briefly appeased traders. Initially, the unstable value of the web used automobile seller jumped by as much as ten p.c, however then shortly slipped into the crimson. Most just lately, the shares had been listed on the finish of the SDAX with a lack of virtually 9 p.c. Stock entrepreneurs spoke of “mixed annual figures”.

The shares of the web dealer FlatexDegiro slipped after the presentation of the steadiness sheet figures and enterprise prospects. The SDAX inventory misplaced over seven p.c. The numbers for 2023 had been higher than anticipated, mentioned a seller. However, the forecast vary for the present yr may be very broad. Accordingly, internet revenue ought to develop by 25 to 50 p.c.

The actual property promoting platform Scout24 is benefiting from the tight rental market. The operator of achieved the earnings targets it raised within the fall within the 2023 monetary yr. Sales rose by 14 p.c to 509.1 million euros. The backside line was a internet revenue of 178.8 million euros, a rise of 45 p.c.

The French retailer Casino slipped deep into the crimson final yr. High prices for the company restructuring and the bitter competitors within the French meals market brought on the retailer, which was about to be taken over by the Czech billionaire Daniel Kretinsky, to lose 5.7 billion euros in 2023.

The British shopper items group Reckitt Benckiser gave an optimistic outlook regardless of a poor closing quarter in 2023. The maker of Sagrotan and Clearasil mentioned its board is “confident about the coming year” and expects like-for-like internet gross sales progress of two to 4 p.c with mid-single-digit progress in its well being and hygiene manufacturers.