DAX Gains on Strong Economic Data

Dax Futures

DAX is experiencing a modest increase Thursday afternoon, marking a fourth consecutive session of gains. This upward movement is supported by a reduction in geopolitical tensions and heightened expectations regarding a potential interest rate cut by the Federal Reserve, which collectively contribute to a positive investor sentiment.

Investors are responding to certain corporate developments, while also anticipating the forthcoming release of U.S. economic data. The benchmark DAX experienced an increase of 97.33 points, reflecting a rise of 0.41%, reaching a level of 23,792.56. Where as –

  • Deutsche Boerse is experiencing a 4.3% increase, supported by JPMorgan’s upgrade of its rating to “Overweight” from “Neutral.” The price target has been adjusted to Euro 292.
  • Siemens Energy is experiencing an increase of 2.75%, while Infineon Technologies has risen by 2%.
  • Siemens Healthineers is experiencing an increase of 1.5%, whereas Rheinmetall, Continental, and Bayer have risen by 1.5%, 1.3%, and 1%, respectively.
  • Puma is experiencing a rise of over 14% as speculation mounts regarding Anta Sports of China potentially seeking to acquire the company. Li Ning and Asics have been identified as potential contenders for Puma.
  • E.On is experiencing a decline of approximately 2.5%. Commerzbank has experienced a decline of nearly 2%, whereas Allianz, Qiagen, RWE, Deutsche Bank, and Symrise have seen decreases ranging from 0.4% to 0.8%.

Monthly survey data indicates that German consumer confidence is poised for improvement in December. Households are demonstrating a readiness to engage in purchasing and saving activities; however, their expectations regarding the economy and income have declined.

The forward-looking consumer sentiment index has shown an improvement, rising to -23.2 from -24.1 in the preceding month. The indicator was projected to increase slightly to -23.6. A report indicated that the Eurozone Economic Sentiment Indicator increased to 97.0 in November, up from 96.8 in October. This outcome aligns with market expectations and represents the highest level recorded since April 2023.