The Dax is racing, the prepare is standing nonetheless | EUROtoday

Lange didn’t preserve the outdated thousand mark. Or higher: It didn't take the German main index lengthy to climb one other thousand. On Wednesday the time had come and the Dax surpassed the 18,000 level mark. It was solely in mid-December final yr that he cleared the hurdle of 17,000 factors.

However, that was just about the one factor that occurred this previous week. At least everybody who traveled by prepare, bus, aircraft or the crowded streets may get this impression. The numerous unions are taking motion lately with their work stoppages.

In view of the utterly damaged relationship within the collective bargaining dispute between the prepare drivers' union GDL and Deutsche Bahn, the railway's annual press convention on the finish of subsequent week is prone to entice quite a lot of curiosity and a spotlight on this nation. The state-owned firm by no means made it onto the inventory alternate – even when in the present day's share value can be thrilling to search out out. But the corporate finally ensures that thousands and thousands of individuals go to work and tens of tons of products attain their vacation spot daily. Every day of shutdown impacts the financial system.

There is at present no temper for optimism on this nation

And as we all know, issues aren't wanting notably rosy on this nation this yr anyway. Whether the temper in corporations has brightened at the least considerably may even turn out to be clear on the finish of subsequent week, when the Munich Ifo Institute presents its month-to-month enterprise local weather index. In any case, the scenario in retail has not improved, as was introduced on the finish of this week. For the third month in a row, shoppers held again on purchases in February and saved up their cash.

Last week, some corporations additionally printed their steadiness sheets. After its revenue stoop in 2023, the chemical firm Lanxess continues to be confronted with a difficult setting within the first half of this yr. Wacker Chemie additionally made an identical assertion. The Munich chemical firm additionally expects solely average enterprise this yr.

In any case, enterprise within the chemical trade is a crucial financial barometer. The merchandise are finally processed and utilized in numerous industries. The chemical affiliation additionally initially gave little hope for an actual enchancment. Accordingly, trade gross sales are prone to decline this yr; the VCI doesn’t anticipate some enchancment till the second half of the yr on the earliest.

Varta postpones steadiness sheet submission

The temper amongst German automobile producers can also be slightly depressed. Volkswagen just lately introduced that it needed to carry greater than 30 new fashions onto the market this yr within the midst of low demand – additionally attributable to delayed or postponed product launches. Europe's largest automobile firm, beneath its earlier CEO Herbert Diess, had targeted its technique extra constantly on electromobility than different producers – and is due to this fact at present struggling greater than others from the buyer stoop.

Even within the essential gross sales market of China, the place VW was the chief for a very long time, home opponents have lengthy been forward of the Wolfsburg-based firm. The proportionate revenue generated there’ll due to this fact additionally shrink this yr. Investors on the inventory market weren’t enthusiastic and despatched the share value down by 5 % at occasions on Wednesday.

Battery producer Varta precipitated a detrimental shock on the German inventory market on Friday when it introduced that it must postpone the steadiness sheet presentation and the final assembly in May, which have been really deliberate for March twenty eighth. The value briefly fell to a file low of 8.4 %.

The firm from Ellwangen in Baden-Württemberg justified the step with the earlier cyber assault in mid-February. At that point, the ailing producer introduced that it was shutting down its IT techniques and manufacturing for safety causes. Parts of manufacturing at the moment are operating once more, even when there are nonetheless important disruptions.

Hacker assaults have penalties

However, the restricted IT entry resulted in an unplanned delay within the finalization and completion of the audit of the monetary studies, it mentioned. The undeniable fact that native traders react in horror when the presentation of the annual steadiness sheet is postponed can hardly be taken calmly. A postponed annual monetary assertion launch brings again disagreeable reminiscences.

Finally, there have been two outstanding examples within the current previous, the bancrupt monetary service supplier Wirecard and the copper dealer Aurubis, the place the issues subsequently turned out to be better than initially anticipated.

Meanwhile, in America, traders are one other attention-grabbing case involving the Chinese quick video app Tiktok. In the USA, a invoice is being handed in political committees that may give the platform, which belongs to the Chinese firm Bytedance, the selection of both chopping its connection to China or disappearing from American app shops. Of course, criticism from China didn’t take lengthy to reach. Meanwhile, former US Treasury Secretary and funding banker Steven Mnuchin introduced that he would type a gaggle of traders to make a purchase order provide to Bytedance.