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With the
Dax
, the annual high from last Thursday is back in focus
Photo: Niklas Rüge / dpa
The German stock market should follow the strong Wall Street on Wednesday and start trading with profits.
The day before, investors were relieved by the statements made by US Federal Reserve Chairman Jerome Powell.
Among other things, he said that the process of falling inflation had begun, but was still at a "very early stage".
Further progress is likely to take some time.
The interest-sensitive technology stocks in particular reacted very positively to this.
Around three quarters of an hour before the start of trading, the X-Dax for the leading German index Dax signals an increase of 0.7 percent to 15,422 points.
This brings the annual high from Thursday at around 15,520 points back into focus.
The
EuroStoxx 50
, the leading index in the eurozone, is likely to rise similarly.
On Friday, the strong US employment market report ended a further rise in the most important stock market indices and fueled interest rate concerns again.
"Importantly, Powell had an opportunity to signal a shift to a more aggressive stance and missed it," said Bill Adams, chief economist at Comerica Bank.
Portfolio manager Thomas Altmann from QC Partners also referred to US President Joe Biden's State of the Union address.
This was the second major event that the stock exchanges now have to deal with.
"US President Joe Biden's State of the Union is doing particularly well on the American stock market and particularly badly on the Chinese stock market. Because with the focus on US supply chains, the US President wants to strengthen his own economy and at the same time his biggest competitor China This could take the economic war between the two superpowers to a new level."
Among the individual stocks on the German market,
Ionos'
IPO will probably be the main focus.
Internet group
United Internet
is listing its web hosting subsidiary on the stock exchange.
However, he was only able to bring in the minimum proceeds: the papers were placed at a price of EUR 18.50 each, which corresponds to the lower end of the targeted range.
The upper end had been EUR 22.50 per share.
However, the United Internet share on the Tradegate trading platform rose by 1.3 percent compared to the Xetra closing price.
Eon
,
VW
and
Hannover Re
in particular are likely to attract attention in
the Dax .
Eon performed better than expected last year
The Essen-based energy
group Eon
performed better than expected last year, not least thanks to higher revenues from nuclear power.
According to preliminary figures, adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) should be around eight billion euros.
The management around CEO Leonard Birnbaum had expected 200 million euros less even in the most optimistic scenario.
Adjusted net income should also exceed the upper end of the forecast at EUR 2.7 billion.
The Eon share increased by 1.7 percent pre-market on Tradegate.
However, a trader expects to take profits in the course of trading.
The fact that the results were better than expected was due to areas that were not part of the core business, he said.
The outlook that Eon wants to give in mid-March should be more interesting.
For VW and Hannover Re it went down before the market
For
VW
, on the other hand, it went down slightly on Tradegate.
According to the first key data, Europe's largest carmaker Volkswagen (VW) increased profits in ongoing business last year despite the Ukraine war and the energy crisis, but shortages in the supply of raw materials and ongoing problems in a number of supply chains left their mark.
As a result, extensive funds remained tied up in the inventories of the VW Group or in certain operating materials.
"The net cash inflow has clearly missed expectations, but the explanation is understandable and combined with the net liquidity of 43 billion euros should not be a major drag on the stock," said a trader.
Shares in
Hannover Re
also fell slightly before the market opened.
The reinsurer pushed through significant price increases with its customers for the treaty renewals effective January 1 and withdrew from business in some cases.
Adjusted for inflation and changed risks, prices in property and casualty contracts increased by 8 percent.
However, the renewed premium volume declined.
"We had to make some conscious portfolio management decisions to respond to market challenges," said CEO Jean-Jacques Henchoz.
He expects this to result in a more profitable contract portfolio.
US investors reacted with relief to Jerome Powell's speech
Hopes that inflation in the US could be successfully combated ultimately boosted the stock markets there on Tuesday.
All in all, investors reacted with relief to statements by the head of the domestic central bank, Jerome Powell, according to which, among other things, the process of falling inflation had already begun.
However, this is still at a "very early stage" and further progress is likely to take some time.
Nevertheless, interest-sensitive technology stocks in particular rose significantly.
On Tuesday, the
Dow Jones
closed up 0.8 percent at 34,156.69 points, while the tech-heavy Nasdaq 100 was up 1.9 percent at 12,113.79 points.
Asia does not follow gains in US stock markets
Asia's major bourses broadly didn't follow the gains in the US on Wednesday.
In Tokyo, the
Nikkei 225
closed at a discount of 0.33 percent at 27,606.46 points.
The
CSI 300 index
, which lists the 300 most important Chinese companies on the mainland stock exchanges, fell by 0.24 percent, while the
Hang Seng index
in the Chinese special administrative region of Hong Kong rose just 0.12 percent.
Bitcoin is hovering around the $23,000 mark
The digital currency Bitcoin has continued to soar and was last listed at 23,207 US dollars.
In November 2022, the currency plummeted from over $21,000 to around $16,000 amid the collapse of crypto exchange FTX.
A year earlier, bitcoin hit a record high of $69,000.
oil prices
Oil prices rose on Tuesday.
They tied in with the price gains from late trading on Monday.
In the late afternoon (CET), a barrel (159 liters) of North Sea Brent for delivery in April was trading at 82.36 US dollars.
That was $1.37 more than the day before.
The price of a barrel of American grade
West Texas Intermediate
(WTI) for March delivery rose by $1.61 to $75.72.
The prices had finally risen on Monday and had thus ended a downward slide in the past week for the time being.
The background to the current surcharges is growing confidence in economic development.
This is mainly due to China's departure from its strict corona policy.
Market observers referred to the recent price policy of the Saudi state oil company Saudi Aramco.
He raised the price of crude oil shipped to Asia.
The background is growing optimism about the development of demand in China.
With news agencies