Which German shares did you buy and how did they perform?#dax
#dax40
#deutschland
$SAP (+2,14 %)
$RHM (+1,1 %)
$MUV2 (+4,37 %)
$ALV (+0,72 %)
$ADS (+3,61 %)
$DE000A0PNN47
$VOW (+0 %)
$MBG (+0,03 %)
$P911 (-2,51 %)
$PAH3 (-1,01 %)
$BMW (+0,6 %)
$DTE (-1,55 %)
$DHL (-0,99 %)
$DB1 (+0,69 %)
$DBK (+0,05 %)
$RHM (+1,1 %)
$AIR (+0,69 %)
$LYY7 (+0,8 %)

⬆️⬆️⬆️

- GOLDMAN raises the price target for SIEMENS ENERGY from EUR 56 to EUR 60. Buy. $ENR (+7,11 %)

- BARCLAYS raises the target price for MERCEDES-BENZ from EUR 48.50 to EUR 50. Underweight. $MBG (+0,03 %)

- JEFFERIES upgrades SMA SOLAR from Hold to Buy and raises target price from EUR 14 to EUR 20. $S92 (+0,77 %)

- GOLDMAN raises the price target for DEUTSCHE BÖRSE from EUR 226 to EUR 231. Neutral. $DB1 (+0,69 %)

- BOFA upgrades BBVA from Neutral to Buy and raises target price from EUR 11 to EUR 13. $BBVA (-0,91 %)

- WARBURG RESEARCH upgrades FUCHS SE from Hold to Buy. Target price EUR 50. $FPE

- GOLDMAN raises the price target for FLATEXDEGIRO from EUR 17 to EUR 18. Buy. $FTK (+0,57 %)

- BERENBERG raises the target price for IBERDROLA from EUR 12.30 to EUR 14. Hold. $IBE (-0,94 %)

- JEFFERIES upgrades PVA TEPLA from Hold to Buy and raises target price from EUR 12 to EUR 19. $TPE (-0,04 %)

- JEFFERIES raises the price target for FRIEDRICH VORWERK from EUR 23 to EUR 30. Hold. $VH2 (+1,13 %)

- JEFFERIES raises the price target for ZEAL NETWORK from EUR 45 to EUR 58. Buy. $TIMA (+1,42 %)

- JEFFERIES raises the price target for ADESSO from EUR 75 to EUR 85. Hold. $ADN1 (+0,91 %)

- JEFFERIES upgrades NEL from Underperform to Hold. Target price NOK 3. $NEL (-1,5 %)

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- BERENBERG lowers the price target for RWE from EUR 46.50 to EUR 42. Buy. $RWE (-1,75 %)

- GOLDMAN lowers target price for EON from EUR 17.50 to EUR 17. Buy. $EOAN (-1,17 %)

- HAUCK AUFHÄUSER IB downgrades AIXTRON from Buy to Hold and lowers target price from EUR 26.40 to EUR 13.80. $AIXA (+1,52 %)

- METZLER lowers the price target for DWS from EUR 41 to EUR 40.50. Hold. $DWS (+0,89 %)

- GOLDMAN lowers the price target for ASTRAZENECA from GBP 159.55 to GBP 155.58. Buy. $AZN (-0,11 %)

- TD COWEN downgrades STMICRO to Hold. Target price EUR 24.50. $STM (-0,4 %)

- JPMORGAN downgrades CONSTELLATION BRANDS to Neutral. Target price USD 203. $STZ (+0,62 %)

- JEFFERIES lowers the price target for DOCMORRIS from CHF 65 to CHF 39. Buy. $DOCM (-2,63 %)

- JEFFERIES lowers the price target for ATOSS SOFTWARE from EUR 112 to EUR 108. Hold. $AOF (+0,44 %)

- JEFFERIES lowers the price target for JENOPTIK from EUR 34 to EUR 29. Buy. $JEN (+0,63 %)

- JEFFERIES lowers the price target for KONTRON from EUR 29 to EUR 27. Buy. $KTN (+0,33 %)

- JEFFERIES lowers the price target for SILTRONIC from EUR 95 to EUR 90. Buy. $WAF (-0,43 %)

- JEFFERIES downgrades VERBIO from Buy to Hold and lowers target price from EUR 22 to EUR 11. $VBK (-1,74 %)

- JEFFERIES downgrades SGL CARBON from Buy to Hold and lowers target price from EUR 9.50 to EUR 4.40. $SGL (-1,31 %)

The stock market year is now history and I am quite satisfied with the performance, or rather it was my personally best year on the stock market so far in my almost 8 year "career" as a "fund manager", almost 50,000 € gross asset growth in one year, for me as a simple man and normal earner still surreal. I mean, that's more than my gross annual income from my job. In addition, there was a gross dividend of around €9,000, which I have to rely on getquin for, because I got a bit lazy this year and didn't track the net dividend in Portfolio Performance on my PC. It's a bit strange to share my "successes" anonymously here on social media, talking about them in real life with friends/colleagues and sometimes with family is still unimaginable for me.

As far as the portfolios are concerned, there has been a lot of movement, at least in my Scalable portfolio.

Reit has been reduced somewhat, the BP and Shell positions are out and have been partially reallocated to Chevron and Exxon. Altria and BAT are also no longer in the portfolio. With a heavy heart, I have also sold $UKW (-0,35 %) with a heavy heart 😥

As these are positions with high dividends, the cash flow for 2025 will also fall to around €7,000 gross.

I used some of the money to invest in shares with a little more potential in the future and so I only added positions in November, such as $ASML (+2,16 %)
$LRCX (+1,45 %)
$KLAC (+0,11 %)
$DB1 (+0,69 %)
$CSL (+0,97 %)
$NXPI (+0 %)
$TTEK (+0,99 %)
$CTAS (+0,39 %)

In addition, I started my "savings plan project" at Trade Republic in February 2024 with the "Ultimate Homer Hardcore ETF", which has now reached a "fund volume" of over €70,000 💪😁

2025 is the turn of the 100k 😁👍

The 50k is divided into approx. 45k price gains for shares and 5k for gold/silver

A happy new year and a happy new year 2025 to you all 🥳💰🍀❤️

Well vltts there are still some on the shortened 30.12. 😅

$CVX (-0,34 %) x600

$XOM (-0,5 %) x600

I expect both of them to increase earnings during the Trump era, which can at least be reflected in the dividend, and that's really my only concern

$8001 (-2,03 %) x1000

$DB1 (+0,69 %) x100

$MSCI (-0,13 %) x80

$DHL (-0,99 %) x1000

-> I thought this was a good place to build up a position. I'm not entirely sure whether we'll see price growth here at some point, but they probably won't fall much further (hopefully)

$DTE (-1,55 %) x3000

Analyst updates, 29.11.

⬆️⬆️⬆️

- BOFA raises the price target for SIEMENS ENERGY from EUR 48 to EUR 52. Neutral. $ENR (+7,11 %)

- GOLDMAN raises the target price for DEUTSCHE TELEKOM from EUR 37 to EUR 39. Buy. $DTE (-1,55 %)

- BERENBERG raises the price target for PFIZER from USD 27 to USD 29. Hold. $PFE (-0,09 %)

- JPMORGAN raises the target price for JUST EAT TAKEAWAY from GBP 14.15 to GBP 16.02. Overweight. $TKWY (-3,75 %)

- WARBURG RESEARCH raises the target price for RATIONAL from EUR 800 to EUR 810. Hold. $RAA (-0,18 %)

- BOFA upgrades SCHNEIDER ELECTRIC from Underperform to Neutral and raises target price from 175 EUR to 255 EUR. $SU (+3,07 %)

- BOFA raises the price target for NORDEX from 17.90 EUR to 19.30 EUR. Buy. $NDX1 (-2,58 %)

- BERENBERG raises the target price for ZALANDO from EUR 29.70 to EUR 38. Buy. $ZAL (-1,73 %)

- WARBURG RESEARCH upgrades WACKER NEUSON from Hold to Buy. Target price EUR 17. $WAC (-1,14 %)

- WARBURG RESEARCH raises the price target for ALZCHEM from EUR 75 to EUR 77.50. Buy. $ACT (+2,64 %)

- ODDO BHF upgrades NORMA GROUP from Neutral to Outperform. Target price EUR 18.10. $NOEJ (-0,33 %)

- BOFA raises the price target for KNORR-BREMSE from EUR 68 to EUR 70. Underperform. $KBX (+1,59 %)

- BOFA upgrades ABB to Buy. $ABBNY (+2,69 %)

- BOFA upgrades KION from Neutral to Buy and raises target price from EUR 39.50 to EUR 48.50. $KGX (+0,16 %)

- BOFA upgrades JUNGHEINRICH from Underperform to Neutral and raises target price from EUR 24 to EUR 26. $JUN3 (-2,69 %)

- BERENBERG raises the price target for GLOBAL FASHION GROUP from EUR 0.23 to EUR 0.27. Hold. $GFG (+2,23 %)

- HSBC raises the price target for DEUTSCHE BÖRSE from EUR 230 to EUR 236. Buy. $DB1 (+0,69 %)

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- KEPLER CHEUVREUX lowers the price target for HUGO BOSS from EUR 59 to EUR 41. Buy. $BOSS (-1,61 %)

- BOFA downgrades GENERALI from Neutral to Underperform and raises target price from EUR 26 to EUR 27. $G (+0,41 %)

- DEUTSCHE BANK RESEARCH lowers the price target for L'OREAL from EUR 335 to EUR 280. Sell. $OR (+1,92 %)

- BOFA lowers the target price for BAE SYSTEMS from GBP 13.75 to GBP 12.40. Underperform. $BA. (-0,8 %)

- BERENBERG lowers the price target for ALLGEIER from EUR 22 to EUR 19. Buy. $0RQZ

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- GOLDMAN raises the price target for DELL from USD 155 to USD 165. Buy. $DELL (+3,88 %)

- GOLDMAN raises the price target for ANALOG DEVICES from USD 247 to USD 261. Buy. $ADI (+1,09 %)

- GOLDMAN raises the price target for HP INC from USD 35 to USD 38. Neutral. $HPQ (+0,89 %)

- WARBURG RESEARCH raises the price target for VONOVIA from EUR 40.20 to EUR 42.30. Buy. $VNA (-0,77 %)

- WARBURG RESEARCH upgrades STRATEC from Hold to Buy. Target price 40 EUR. $SBS4

- DEUTSCHE BANK RESEARCH raises the price target for DEUTSCHE BÖRSE from EUR 235 to EUR 237. Buy. $DB1 (+0,69 %)

- MORGAN STANLEY raises the target price for DEUTSCHE TELEKOM from EUR 33 to EUR 38. Overweight. $DTE (-1,55 %)

- GOLDMAN raises the price target for TRATON from EUR 31.80 to EUR 35.50. Neutral. $8TRA (+0,45 %)

- GOLDMAN raises the price target for BRENNTAG from EUR 94 to EUR 95. Buy. $BNR (-1,23 %)

- BERENBERG upgrades EQUINOR from Hold to Buy and raises target price from NOK 290 to NOK 325. $EQNR (-1 %)

- JPMORGAN raises the target price for BEIERSDORF from EUR 150 to EUR 160. Overweight. $BEI (+0,84 %)

- JPMORGAN upgrades HENKEL from Neutral to Overweight and raises target price from EUR 82 to EUR 100. $HEN (+0,03 %)

- JPMORGAN upgrades BRITISH AMERICAN TOBACCO to Neutral. $BATS (+0,2 %)

- JPMORGAN raises the price target for EON from EUR 15.50 to EUR 16. Overweight. $EOAN (-1,17 %)

- JPMORGAN raises the target price for AUTO1 from EUR 12.10 to EUR 17.10. Overweight. $AG1 (+1,61 %)

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- STIFEL lowers the price target for SIEMENS from EUR 207 to EUR 202. Buy. $SIE (+1,56 %)

- JPMORGAN lowers the price target for HP INC from USD 41 to USD 40. Overweight. $HPQ (+0,89 %)

- WARBURG RESEARCH lowers the price target for LANXESS from EUR 40 to EUR 37. Buy. $LXS (-2,92 %)

- CITIGROUP lowers the price target for BASF from EUR 49 to EUR 46. Neutral. $BAS (-0,63 %)

- RBC lowers the target price for COMMERZBANK from EUR 18 to EUR 17.25. Sector Perform. $CBK (-1,2 %)

- RBC lowers the target price for ING from EUR 17.50 to EUR 16.75. Sector-Perform. $ING (-1,56 %)

- RBC lowers the price target for BNP PARIBAS from EUR 79 to EUR 78. Outperform. $BNP (-1,28 %)

- JPMORGAN lowers the price target for ELRINGKLINGER from EUR 6.70 to EUR 6. Neutral. $ELLRY

- JPMORGAN lowers the price target for SYMRISE from EUR 130 to EUR 120. Overweight. $SY1 (-0,5 %)

Analyst updates, 25.11.

⬆️⬆️⬆️

- MORGAN STANLEY upgrades ROBINHOOD to Overweight. Target price USD 55. $HOOD (+0,25 %)

- BARCLAYS raises the price target for DEUTSCHE TELEKOM from EUR 37 to EUR 39.50. Overweight. $DTE (-1,55 %)

- BERENBERG raises the target price for SIEMENS ENERGY from EUR 35 to EUR 70. Buy. $ENR (+7,11 %)

- UBS raises the target price for RHEINMETALL from EUR 570 to EUR 630. Neutral. $RHM (+1,1 %)

- BARCLAYS raises the price target for 1&1 from EUR 17 to EUR 20. Equal-Weight. $1U1 (-0,7 %)

- DEUTSCHE BANK RESEARCH upgrades VESTAS from Hold to Buy. $VWS (-2,09 %)

- DEUTSCHE BANK RESEARCH raises the price target for VONOVIA from EUR 33 to EUR 38. Buy. $VNA (-0,77 %)

- DEUTSCHE BANK RESEARCH raises the price target for TAG IMMOBILIEN from EUR 16 to EUR 18. Buy. $TEG (-1,63 %)

- DEUTSCHE BANK RESEARCH upgrades AROUNDTOWN from Sell to Hold. Target price EUR 2.80. $AT1 (-0,52 %)

- DEUTSCHE BANK RESEARCH raises the price target for LEG IMMOBILIEN from EUR 90 to EUR 105. Buy. $LEG (-1,6 %)

- DEUTSCHE BANK RESEARCH upgrades DEUTSCHE WOHNEN from Hold to Buy and raises target price from EUR 19 to EUR 28. $DWNI (-0,54 %)

- STIFEL raises the price target for NOVARTIS from CHF 106 to CHF 109. Hold. $NUVN

- DEUTSCHE BANK RESEARCH upgrades JD SPORTS FASHION from Sell to Hold. $JD. (+1 %)

- DEUTSCHE BANK RESEARCH raises the price target for ALSTOM from EUR 22 to EUR 25. Buy. $ALO (-2,18 %)

- MORGAN STANLEY raises the price target for DEUTSCHE BÖRSE from EUR 213 to EUR 232. Equal-Weight. $DB1 (+0,69 %)

- KEPLER CHEUVREUX raises the target price for ECKERT & ZIEGLER from 57.30 EUR to 60.30 EUR. Buy. $EUZ (-0,56 %)

- BARCLAYS raises the target price for UNITED INTERNET from EUR 23 to EUR 26. Equal-Weight. $UTDI (-0,72 %)

- JEFFERIES raises the price target for HEIDELBERG MATERIALS from 142.10 EUR to 145.50 EUR. Buy. $HEI (+0,55 %)

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- DEUTSCHE BANK RESEARCH lowers the price target for KION from EUR 55 to EUR 50. Buy. $KGX (+0,16 %)

- DEUTSCHE BANK RESEARCH lowers the price target for CTS EVENTIM from EUR 114 to EUR 106. Buy. $EVD (-0,5 %)

- GOLDMAN downgrades ORSTED from Buy to Neutral and lowers target price from DKK 520 to DKK 445. $ORSTED (-3,99 %)

- DEUTSCHE BANK RESEARCH lowers the price target for H&M from SEK 200 to SEK 190. Buy. $HM B (+1,04 %)

- MORGAN STANLEY lowers the price target for MERCK KGAA from EUR 200 to EUR 190. Overweight. $MRK (-0,11 %)

- BARCLAYS lowers the target price for THYSSENKRUPP from EUR 4.40 to EUR 4. Underweight. $TKA (-1,55 %)

- MORGAN STANLEY downgrades ING to Equal-Weight. Target price EUR 17.50. $ING (-1,56 %)

- JPMORGAN lowers target price for RWE from EUR 48 to EUR 47.50. Overweight. $RWE (-1,75 %)

Deutsche Börse Q3 2024 $DB1 (+0,69 %)

Financial performance:

Deutsche Börse Group delivered a strong financial performance in Q3 2024, with net revenue up 18% to €1,403.9 million compared to Q3 2023. Growth was driven by both organic expansion and the acquisition of SimCorp, which contributed 9% to the increase in revenue. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 17% to EUR 801.8 million. Net profit attributable to shareholders rose to EUR 444.9 million, compared to EUR 400.3 million in the third quarter of 2023. Earnings per share increased by 12% to EUR 2.42.

Balance sheet analysis:

The balance sheet shows an increase in total assets to EUR 301,326.3 million as at September 30, 2024, compared to EUR 237,726.9 million at the end of 2023. This growth is mainly due to the acquisition of SimCorp and the increase in financial instruments held by central counterparties. Shareholders' equity also increased to EUR 10,527.7 million, compared to EUR 10,100.2 million at the end of 2023.

Income statement:

Return on sales increased by 21% to 1,452.0 million euros for the third quarter of 2024. Operating costs increased by 20% to 603.4 million euros, mainly due to the SimCorp acquisition. The result from financial assets amounted to EUR 1.3 million and was down slightly compared to EUR 1.4 million in the third quarter of 2023.

Key figures and profitability:

Earnings per share (EPS) increased by 12% to 2.42 euros and cash EPS increased by 10% to 2.61 euros. The EBITDA margin remains robust, indicating efficient cost management despite rising operating costs.

Segment analysis:

• Investment Management Solutions: Net sales increased by 69%, driven by client wins in software solutions and higher demand for ESG solutions.
• Trading & Clearing: Net sales increased by 10%, supported by strong demand for interest rate derivatives and record trading volumes in commodities.
• Securities Services: Benefited from higher global debt issuance and trading activity in bonds, resulting in a 7% increase in net sales.

Competitive analysis:

Deutsche Börse Group strengthens its market position through strategic acquisitions such as SimCorp and benefits from secular growth trends in commodities and ESG solutions. The focus on digitalization and the introduction of cloud solutions give the company a further competitive advantage.

Management forecasts and comments:

The company has revised its annual forecast for 2024 upwards and expects net sales of around EUR 5.8 billion and EBITDA of between EUR 3.3 and 3.4 billion. Management is confident of achieving the goals of the Horizon 2026 strategy, with a focus on organic growth and the successful integration of acquisitions.

Risks and opportunities:

The main risks include regulatory challenges and market fluctuations. However, there are opportunities in the expansion of the ESG offering, the use of digital assets and the exploitation of secular growth trends in the commodities sector.

Conclusion and strategic implications:

Deutsche Börse Group's strong financial performance in Q3 2024 underscores its strategic focus on organic growth and acquisitions. The successful integration of SimCorp and the emphasis on digitalization position the company well for future growth. The upward revision to 2024 guidance reflects management's confidence in maintaining this momentum and remaining aligned with the Horizon 2026 strategy. I naturally remain invested in one of the best German stocks.

Positive statements:

• Net sales increased by 18% to € 1,403.9 million compared to the third quarter of 2023, driven by both organic growth and the acquisition of SimCorp.
• Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 17% to € 801.8 million.
• The Investment Management Solutions division reported a 69% increase in revenue, driven by significant client wins and higher demand for ESG solutions.
• Trading & Clearing reported a 10% increase in revenue, supported by strong demand for interest rate derivatives and record commodity trading volumes.
• Group net profit attributable to shareholders increased to € 444.9 million, compared to € 400.3 million in Q3 2023, with earnings per share increasing by 12% to € 2.42.

Negative statements:

• Operating costs increased by 20% to € 603.4 million, mainly due to the acquisition of SimCorp.
• In the same period of the previous year, there was a write-down of around € 25 million on intangible assets at Crypto Finance AG in the Trading & Clearing division.
• Despite the overall growth, the Trading & Clearing equity unit recorded a 2% decline in revenue in the first nine months of 2024.
• Net interest margins from the banking business in the Fund Services unit fell by 1% in the third quarter of 2024 compared to the third quarter of 2023.
• The financial result showed a significant increase in financial expenses, with a rise of 295% to € -43.4 million.

21.10.2024

iPhone 16 gets off to a strong start: Apple registers 20% more sales in China + SAP is too valuable for the German stock exchange + DAX outlook: 20,000-point mark remains firmly in sight + 11 DATEs that will be important this week + Jefferies lowers Munich Re to 'Hold' - target 485 euros

Apple $AAPL (-0,63 %) can score points in China with a successful launch of the new iPhone 16. According to a Bloomberg report based on data from Counterpoint Research, sales in the first three weeks after the market launch were 20 percent higher than the previous year's model, with the more expensive versions of the new iPhone doing particularly well. Sales of the Pro and Pro Max models increased by 44 percent. According to Counterpoint analyst Ivan Lam, the start of production of the iPhone 15 last year was still characterized by supply bottlenecks, which slowed down the initial sales figures. These problems have largely been overcome with the iPhone 16.

The software company SAP $SAP (+2,14 %) was the first to reach the new DAX cap of 15 percent. What now? Over the past year, the value of the German software group SAP has risen sharply. The company is currently valued at 212 euros per share on the Dax. Twelve months ago it was less than 130 euros.

https://www.golem.de/news/dax-unternehmen-sap-ist-zu-wertvoll-fuer-die-deutsche-boerse-2410-189998.html

With an increase of around 0.4 percent to 19,657 points, the DAX $GDAXI went into the weekend last Friday. This means that the stock market barometer could launch another attack on the 20,000-point mark in the coming week. Investors can find out which topics could influence the price trend in the DAX outlook. Do you think the 20,000 points will fall?

https://www.deraktionaer.de/artikel/maerkte-forex-zinsen/dax-ausblick-20000-punkte-marke-bleibt-fest-im-visier-20368521.html

The analyst firm Jefferies has Munich Re $MUV2 (+4,37 %) from "buy" to "hold" and lowered its price target from 495 to 485 euros. In a study published on Monday, analyst Philip Kett mentioned that the reinsurer's share price had reached record highs despite Hurricane Milton. He reassessed his estimates and came to the conclusion that there was hardly any room for rising market expectations. His price target had already been exceeded.

11 DATES that will be important this week

1 China's central bank cuts key interest rates

The People's Bank of China is likely to ease its monetary policy further. Analysts expect it to lower its reference rates for 5-year and 1-year corporate loans to 3.65% (currently: 3.85%) and 3.15% (3.35%) respectively. This expectation is not only fueled by the announcement of comprehensive economic policy measures to stimulate growth, but also by statements made by central bank governor Pan Gongsheng. According to reports in the Chinese local media, he held out the prospect of a reduction of 20 to 25 basis points at an event.

>>> Monday, October 21, 2024; 3:00

2nd IMF hardly changes growth forecasts - focus on government debt

Economists and politicians are meeting in Washington for the annual meeting of the International Monetary Fund (IMF) and World Bank. The agenda initially includes the publication of the current World Economic Outlook (3.00 p.m.) and the Global Financial Stability Report (4.15 p.m.) on Monday, followed by the Fiscal Monitor on Tuesday (3.00 p.m.). The opening speech by IMF chief Kristalina Georgieva indicates that the IMF will primarily discuss the high and rising level of public debt and look for ways to strengthen economic growth in order to improve debt sustainability. There will also be no shortage of calls for austerity. The finance ministers and central bank governors of the G20 will meet on Thursday.

>>> Monday, October 21, 2024, 15:00

3. SAP $SAP (+2,14 %)defies the weak economic environment

SAP appears to be unaffected by the weak economy. According to analysts' expectations, the Group seamlessly continued the growth of its cloud business in the third quarter. Even slight disruptive factors such as investigations in the USA and the departure of three board members have not thrown the Walldorf-based software giant off track. SAP will present its figures on Monday shortly after 22:00 after the close of the US stock exchange. An analysts' conference will take place at 23:00.

>>> Monday, October 21, 2024; 22:05

4. deutsche Börse $DB1 (+0,69 %)remains on course for growth with Simcorp

Deutsche Börse should have remained on course for growth in the third quarter. The figures are likely to be characterized by the integration of Simcorp and a good development in the Trading & Clearing division. The exchange operator will probably confirm its targets for the year as a whole. Larger acquisitions are currently not an issue, not only because of the ongoing integration of Simcorp, but probably also due to the change in the Group's top management.

>>> Tuesday, October 22, 2024; 19:00

5th Deutsche Bank $DBK (+0,05 %)with good investment banking - Postbank helps

The fact that Deutsche Bank is currently attracting less attention than a certain Frankfurt-based competitor is unlikely to be changed by the third quarter report. The bank will deliver solid figures and confirm its targets. Although the bank recently had to raise its forecast for risk provisioning, things are going well in the investment bank. CFO James von Moltke recently said that significant growth is expected, particularly in the M&A and issues business. The bank will also see a positive effect on earnings from the reversal of the Postbank provision, as it will not need the full EUR 1.3 billion for the settlement with the former Postbank shareholders. In this context, statements on new share buybacks should also be of interest.

>>> Wednesday, October 23, 2024; 7:00 a.m.

6 Beiersdorf $BEI (+0,84 %)on the home straight after the summer quarter

After the first nine months, Beiersdorf should be on track for its full-year targets for both sales and EBIT margin. The summer quarter is likely to have benefited from strong demand for sun protection and the derma skin care brands. The innovation Epicelline and the launch of Eucerin Face in the USA should also be well received. On the other hand, further declines in sales for the luxury cosmetics brand La Prairie in China. Nevertheless, organic sales growth at Group level and in both the Consumer and Tesa segments is likely to have been in line with the target range - with Consumer tending towards the upper end and Tesa and the Group towards the lower end. Following a pull-forward effect in the second quarter, Tesa could deliver somewhat weaker results in the third quarter. With the second quarter figures, Beiersdorf had explained that the development in the US market and at La Prairie in the second half of the year would be decisive for the positioning in the target range.

>>> Thursday, October 24, 2024; 07:00

7. symrise $SY1 (-0,5 %)could raise the forecast

Symrise is likely to have increased sales and margins in the third quarter. According to analysts, strong sales in both divisions and better pricing should have contributed to this. The focus is on the forecast. In August, CFO Olaf Klinger held out the prospect of a review after the end of the quarter and a possible increase - which is expected by the market. However, analysts at UBS also point out that the fragrance and flavor manufacturer usually gives conservative forecasts. Investors may also ask about the planned sale of the business with ingredients and flavor enhancers for feed for fish farming.

>>> Thursday, October 24, 2024; 07:30

9. Mercedes-Benz $MBG (+0,03 %)burdened by weakness in China

Burdened by the weak market environment and increasing price pressure, Mercedes-Benz recently had to lower its outlook for this year twice within a short space of time. The reluctance to buy has hit the DAX-listed company particularly hard in China, where sales of particularly expensive and high-margin luxury cars have increasingly lost momentum. However, there are also positive aspects that analysts are emphasizing at the Stuttgart-based premium car manufacturer, such as its commitment to the dividend payout ratio and share buybacks. The management should emphasize this again when presenting the quarterly figures so that the mood does not change even more.

>>> Friday, October 25, 2024; 07:30

10th Ifo business climate index rises in October

Economists expect the Ifo Business Climate Index to have risen again in October for the first time since April - to 85.6 (September: 85.4) points. Nevertheless, the situation of the German economy is tricky. From a cyclical perspective, an Ifo increase would indicate an improvement. Energy prices are no longer weighing so heavily on the economy and the effects of high key interest rates are slowly easing. However, the structural problems in the automotive industry, which is so important for Germany, are likely to persist for some time to come, and the rest of the export-oriented industry will also have to adjust to the new geopolitical conditions for some time to come.

>>> Friday, 25.10.2024; 10:00

11. at Porsche $P911 (-2,51 %)everything depends on the final quarter

The situation at Porsche has become increasingly gloomy in recent months. It was already foreseeable at the beginning of the year that the many model changes would entail high expenses and that the environment in China would be difficult. However, this was recently compounded by delivery problems, production interruptions and considerably tougher competition. When the figures for the third quarter are presented, analysts are only expecting a return of just over 11 percent - but Porsche is aiming for 14 to 15 percent for the year as a whole. The management's comments on the final quarter will therefore be the linchpin in terms of target achievement.

>>> Friday, October 25, 2024; 17:30

Monday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

CVS Health USD 0.67

Caterpillar 1.41 USD

Bank of New York Mellon USD 0.47

Husqvarna (B) SEK 2.00

Quarterly figures / company dates Europe

03:00 Logitech quarterly figures

07:35 Forvia SE sales 3Q

18:30 Metro Trading Statement 4Q

22:05 SAP quarterly figures

23:00 SAP Analyst Conference

Economic data

• 08:00 DE: Producer prices September FORECAST: -0.2% yoy/-1.0% yoy previously: +0.2% yoy/-0.8% yoy
• 16:00 US: Index of leading indicators September FORECAST: -0.3% yoy previous: -0.2% yoy
• 19:30 US: Federal Reserve Bank of Minneapolis President Neel Kashkari speaks at Chippewa Falls Area Chamber of Commerce event
• 23:00 US: Federal Reserve Bank of Kansas City President Jeffrey Schmid speaks at CFA Society Kansas City event

🌐 Stock exchange battle: Deutsche Börse, ICE, Euronext, NASDAQ - who dominates trading? 📊

Company presentation

Deutsche Börse AG

Deutsche Börse is one of the world's leading exchange operators and offers a wide range of services in the areas of trading, clearing and market infrastructure. In addition to the Frankfurt Stock Exchange, the company has particularly distinguished itself through its innovative strength in the field of electronic trading.

Euronext NV

Euronext is a pan-European exchange group that operates markets in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. It is the largest stock exchange in Europe and offers a platform for trading shares, bonds and derivatives.

Nasdaq

As the world's first electronic stock exchange, founded in 1971, Nasdaq has developed into the leading trading center for technology companies. It is known for its high liquidity and the immense trading volume that is handled daily.

Intercontinental Exchange (ICE)

ICE operates global financial and commodity markets and is best known for its acquisition of the New York Stock Exchange (NYSE). The company offers a wide range of services, including trading in energy, commodities and financial derivatives.

Historical development

• German Stock Exchange: Its origins date back to the 16th century. The modern Deutsche Börse was created in the 1990s through mergers of regional exchanges and has since undergone extensive digitization.
• Euronext: Founded in 2000 through the merger of several European exchanges, Euronext has become the leading European platform through acquisitions, such as Borsa Italiana 2021.
• Nasdaq: Since its inception, Nasdaq has revolutionized electronic trading. The launch of the Nasdaq 100 index in 1985 strengthened its position as the central trading platform for tech companies.
• ICE: ICE was founded in 2000 and has rapidly expanded its position as a global player through strategic acquisitions, including NYSE in 2013.

Business model

• Deutsche Börse: It offers a comprehensive range of securities and derivatives trading as well as clearing and settlement services via Clearstream. Its diversification strengthens its competitiveness.
• Euronext: As an integrated platform, Euronext covers trading in equities, bonds and derivatives and offers additional services in the areas of corporate services and technology.
• Nasdaq: Nasdaq focuses on electronic trading, particularly in the technology sector, and offers innovative products such as ETFs and indices.
• ICE: ICE combines trading in commodities and financial derivatives and also offers clearing services, which increases the efficiency and transparency of its platforms.

Core competencies

• Deutsche Börse: Excellent technical infrastructure and market knowledge.
• Euronext: Leader in European market infrastructure with a diversified service offering.
• Nasdaq: Innovative power in electronic trading and a strong presence in the technology sector.
• ICE: Expertise in commodities and derivatives trading as well as strong clearing capabilities.

Future prospects

• Deutsche Börse: Focus on digital transformation and entry into new markets.
• Euronext: Investing in sustainable financing and consolidating its market position in Europe.
• Nasdaq: Expansion of AI and blockchain-based technologies for trading optimization.
• ICE: Expanding its product portfolio with innovative trading solutions and technologies.

Strategic initiatives

• Deutsche Börse: Securing its market position through acquisitions and investments in new technologies.
• Euronext: Focuses on expansion through acquisitions of regional markets to create an integrated European trading platform.
• Nasdaq: Focuses on launching new products, especially to support growing technology companies.
• ICE: Strong integration of new technologies to optimize trading processes and expand its business model.

Market position and competition

German Stock Exchange

Strong in Europe

Euronext

Euronext

Leading in Europe

German Stock Exchange

Nasdaq

Leading in the USA

NYSE

ICE

Strong global position

CME Group

Total Addressable Market (TAM)

• German stock exchange: Coverage of the European market with a focus on equities and derivatives trading.
• Euronext: Coverage of the European market with a focus on equities and bonds.
• Nasdaq: Global technology market with a particular focus on the USA.
• ICE: Covers global commodities and financial derivatives markets.

• Equity performance
• $DB1 (+0,69 %)
  : TR over 10 years is 366%
• $ENX (+1,18 %)
  : TR is 620% over 10 years
• $NDAQ (-0,1 %)
  : TR is 503% for 10 years
• $ICE (+1,59 %)
  : TR is on 10 years is 343,1%

For the development (company figures), better view and more check out the free blog:https://topicswithhead.beehiiv.com/p/b-rsen-battle-deutsche-b-rse-ice-euronext-nasdaq-wer-dominiert-den-handel

Conclusion

Stock market shares are always interesting because they benefit disproportionately from good stock market years due to their relatively fixed costs. In addition, these companies are increasingly developing into data managers, which promises further growth and efficiency gains. There is still plenty of potential for consolidation and growth in the European stock exchanges in particular, especially due to the dynamic market activities.

When looking at capital efficiency, Euronext and Deutsche Börse stand out, either as top performers or as only slightly worse alternatives. Therefore, they are my preferred candidates if I had to make a decision. Despite everything, all the stocks mentioned have performed impressively, which is why I hold all but ICE and regularly buy more.

If you are active on the stock market and want to participate, you can hardly go wrong with these stocks. My three stocks in particular offer excellent diversification, as each of the exchanges has its own advantages and disadvantages.

It should be particularly emphasized that the Nasdaq also includes Scandinavian stock exchange operators, which also contributes to diversification and offers interesting growth opportunities.

If you look at historical performance, Euronext would be the clear outperformer and therefore the best choice over the last 10 years.