DAX weaker, no trading in the USA: Rheinmetall, BASF, Commerzbank, SAP, Infineon, DWS in focus
The DAX recorded gains on Thursday following the US labor market report. It closed up 0.6 percent at 23,934.13 points. However, it is likely to lose some ground again as Friday begins. Broker IG estimates the German leading index down 0.4 percent at 23,847 points this morning.
The tariff disputes remain in focus. The window of opportunity for a deal between the EU and the US is shrinking. Further tariffs of 50 percent are set to come into effect next Wednesday if no agreement is reached.
On the futures side, things remain very quiet today. The US stock markets are closed due to Independence Day. However, US President Donald Trump plans to sign the major tax and spending bill today. In Germany, data on industrial orders for May are expected this morning.
Some analyst estimates are likely to attract attention. JPMorgan raised its price target for Rheinmetall from €2,100 to €2,250. JPMorgan is also becoming more optimistic about Kion, raising its price target from €42 to €59. Exane BNP, on the other hand, downgraded DWS to "Underperform" with a price target of €43. Jungheinrich was downgraded by Exane to "Neutral" with a price target of €42. Meanwhile, Kempen downgraded Vonovia from "Buy" to "Sell."
The previous day's winners and losers in the DAX are likely to remain in focus. Shares of Commerzbank, Henkel, SAP, Infineon, and MTU Aero Engines performed particularly well on Thursday. BASF, Rheinmetall, Sartorius, Merck, and Bayer were at the bottom of the DAX.
Bitcoin and gold remain at high levels. One Bitcoin costs $109,255 on Thursday morning. A troy ounce of gold is trading at $3,341.
US markets performed strongly in shortened trading on Thursday. The Dow Jones Industrial Average gained 0.8 percent to 44,828.53 points. The broad-based S&P 500 added 0.8 percent to 6,279.35 points. And the technology-heavy Nasdaq 100 recorded a gain of one percent to 22,866.97 points.
The major Asian markets were mixed on Friday morning. Japan's Nikkei 225 index gained 0.1 percent. The CSI 300, which tracks the most important mainland Chinese stocks, was up 0.9 percent. The Hang Seng index in the Chinese special administrative region of Hong Kong, however, lost 0.4 percent.
DER AKTIONÄR will report on all important developments and news on the national and international markets throughout the day.
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