Bull market on the stock exchange: After US inflation data were taken in with relief, the German leading index Dax reached a record high at 15,888 points on Wednesday and was 0.4 percent firmer from trading. In the midst of a flood of company balance sheets on Thursday, according to calculations by banks and brokerage houses, the Dax will start barely changed and keep an eye on the psychologically important round mark. The MDax of the medium-sized values is also at a record high at just under 36,000 points.
Trend-setting for investors should be the company balance sheets on Thursday, including the DAX companies Deutsche Telekom, RWE, Henkel and Delivery Hero Numbers ahead.
In the USA, the Dow Jones continued its climbing tour on Wednesday. The Nasdaq technology index had gone out of trading with slight losses. The shares of the Mainz vaccine manufacturer Biontech, which were listed on the Nasdaq and had risen steeply in the past few days, had fallen in double digits. However, on Thursday the stock started a recovery attempt in early trading.
In Asia, the most important indices were barely changed on Thursday. They have been lagging behind on the world’s stock exchanges for weeks because of the tighter regulation of Chinese companies by Beijing.
Dax, Dow and stocks at a glance: Here you go to the stock exchange page
In the USA, the inflation rate remained at a high level in July. Compared to the same month last year, prices rose 5.4 percent, as the Department of Labor announced in Washington on Wednesday. The rate had already been 5.4 percent in June. This was the highest rate since August 2008. Inflation is still well above the Fed’s inflation target, which is aiming for two percent.
Deutsche Telekom raises forecast again
Thanks to the US workhorse T-Mobile US, Deutsche Telekom has the confidence to do more again. For the year as a whole, adjusted operating profit excluding leasing expenses (Ebitda AL) of 37.2 billion euros (previously more than 37 billion euros) is expected, the Bonn-based Dax group announced on Thursday, making its forecast for the second time this year raises. Deutsche Telekom follows the US subsidiary, which had already raised its expectations at the end of July. T-Mobile US is benefiting from the fact that the integration of its smaller competitor Sprint, which was taken over last year, is progressing faster than expected.
Delivery Hero increases sales forecast
The food delivery service Delivery Hero is raising its sales forecast after brisk growth in the second quarter. The Berlin-based Dax group announced on Thursday that revenues of 6.4 to 6.7 billion euros are expected for the year as a whole. So far, 6.1 to 6.6 billion euros have been promised. Last year, the company, which is active in more than 50 countries, had a turnover of 2.8 billion euros.
Henkel increases profit, Knobel expects more growth
The consumer goods group Henkel significantly increased sales and profits in the first half of 2021 and raised its sales forecast. In the second half of the year, however, the group expects the burden of higher raw material prices and strained supply chains. From January to June, the manufacturer of Pritt, Loctite and Persil screwed sales by 4.7 percent to around ten billion euros, organic sales even grew by 11.3 percent, as Henkel announced on Thursday. CEO Carsten Knobel now expects organic sales growth of six to eight percent for 2021.
Biontech share drops again after record rally
The shares of the Mainz vaccine manufacturer Biontech, which are listed on the Nasdaq, were one of the biggest losers on the stock exchange on Wednesday. She expanded her losses to 18 percent in the evening. The paper was most recently listed at US $ 350 – on Tuesday the share had temporarily reached a record high of US $ 450. However, the market value of Biontech had doubled in the past four weeks. Profit-taking has now created selling pressure – investors are taking money off the table. Selling pressure was heightened by news that the EU was looking to investigate new possible side effects of mRNA vaccines, including an allergic skin reaction and kidney inflammation.
On Thursday, the Biontech share started a recovery attempt in early trading and rose again by around 5 percent to 318 euros.
Moderna’s paper also lost around 10 percent at times on the Nasdaq, after losing almost 6 percent the day before. Bank of America analyst Geoff Meacham had reiterated his “underperform” judgment on the shares of the US corona vaccine producer the day before. With a view to the fundamental basis of the company, the valuation no longer corresponds to reality, he wrote.
Bitcoin is giving way, hovering around the $ 45,000 mark
The cryptocurrency Bitcoin hovered around the $ 45,000 mark on Thursday, around $ 1,000 lower than the previous evening. The cyber currency has recovered significantly in the past four weeks, with Bitcoin falling below the $ 30,000 mark in mid-July.
The soaring in Bitcoin lets investors grab the stocks of cryptocurrency miners. Bit Mining’s paper and Bitfarms’ shares have recently been in high demand.
Asia’s stock exchanges hardly changed, Shanghai in the red
Asian stock markets failed to follow Wall Street’s record hunt on Thursday. Fears about the spread of the delta variant of the coronavirus, especially in Asian countries, depressed investor sentiment. “The money is only in the US and European markets right now,” said Daniel Lam, senior cross-asset strategist at Standard Chartered Wealth Management. He referred to a strong accounting season in the USA and the high vaccination rates in Europe. This means that the pace of recovery has been less affected by the spread of the Delta variant, says Lam. The “recent China regulatory blues” in education and technology also play a role.
The Nikkei index, which comprises 225 values, was 0.2 percent higher at 28,128 points. The broader Topix index rose 0.2 percent and stood at 1958 points. The Shanghai stock exchange was 0.4 percent in the red. The index of the most important companies in Shanghai and Shenzen lost 0.9 percent.
In Asian foreign exchange trading, the dollar was almost unchanged at 110.40 yen and stagnated at 6.4767 yuan. In relation to the Swiss currency, it was quoted hardly changed at 0.9217 francs. At the same time, the euro remained almost unchanged at 1.1739 dollars and was barely changed at 1.0820 francs. The pound sterling stagnated at $ 1.3869.
Oil prices hardly changed
Oil prices changed little on Thursday. A barrel (159 liters) of the North Sea Brent cost US $ 71.50 that morning. That was six cents more than the day before. The price of a barrel of the American West Texas Intermediate (WTI) also rose slightly by five cents to $ 69.30.
The oil prices were able to hold the profits of the past two trading days. Market observers referred to statements by the US investment bank Goldman Sachs, according to which the more contagious delta variant of the coronavirus is likely to have only moderate effects on the further development of the global economy.
In the past week, concerns about stricter measures in the fight against the corona crisis had weighed on oil prices several times. In particular, reports about restrictions on mobility in China had repeatedly fueled speculation on the oil market about a decline in demand. China is one of the most important oil importers in the world.