DAX is breaking a five-day losing streak, showing a solid increase on Thursday. This uptick follows a stronger-than-anticipated earnings report and outlook from Nvidia, which has alleviated concerns regarding the valuations of AI-related firms. Meanwhile, investors are closely monitoring U.S. jobs data for potential insights regarding the Federal Reserve’s interest rate decisions.
The benchmark DAX, having ascended to 23,454.15, recorded an increase of 198.51 points or 0.86% at 23,402.65 shortly after noon. Rheinmetall is experiencing a notable increase of 5.4%. Siemens Energy has increased by 5.1%, whereas Qiagen, RWE, and GEA Group have experienced gains of 2.75%, 2.5%, and 2.3%, respectively.
- Commerzbank is experiencing an increase of nearly 2%.
- MTU Aero Engines, Allianz, Heidelberg Materials, Fresenius, E.ON, and
Infineon Technologies are experiencing notable increases in value. - German wind manufacturer Nordex has experienced a 2% increase following the acquisition of a new order to supply and install 12 N133/4.8 wind turbines at the Drumnahough Wind Farm in Donegal, Ireland.
- Volkswagen, Adidas, BASF, Porsche Automobil Holding, Mercedes-Benz, BMW, and Daimler Truck Holding have experienced declines ranging from 0.7% to 1.4%.
Data indicated that Germany’s producer prices declined in October, marking the eighth consecutive month of decreases. In October, producer prices experienced a decline of 1.8% year-on-year, a marginally steeper decrease compared to the 1.7% reduction observed in September. The decline was not as pronounced as the forecasted 1.9% by economists.
Producer prices increased by 0.1% on a monthly basis, contrary to expectations of no growth. A report from Eurostat indicated that Eurozone construction output experienced a decline for the second consecutive month in September, decreasing by 0.5%, subsequent to a 0.2% decrease in August. Year-over-year, construction output experienced a decline of 0.3%, contrasting with the 1% rise observed in August.