FED warns of higher inflation + Luxury goods group Hermes grows less than expected + Siemens Energy targets record high + Evotec realigns itself + Chip manufacturer TSMC increases profits sharply

Fed Chairman Jerome Powell warns of higher inflation and slower growth due to Trump's tariff policy

• He emphasizes that the tariffs will probably lead to a temporary rise in inflation.
• The Federal Reserve's next interest rate decision is due in May, although it is widely expected to remain unchanged.
• Fed Chairman Jerome Powell warns that US government debt is on an unsustainable path and that this debt trajectory is a problem that needs to be addressed.
• Fed Chairman Powell explains that US economic growth is slowing, with moderate consumer growth and a wave of imports to avoid tariffs likely to weigh on GDP. According to Powell, the Fed intends to stick to the current rates for the time being until there is more clarity about the economic development.
• Fed Chairman Powell emphasizes that the role of the central bank is to ensure that tariffs only lead to a one-off price increase.
• Fed Chairman Jerome Powell sees immigration as an important reason for the strong economic growth in the USA in recent years.
• According to his speech to the Economic Club of Chicago, Fed Chairman Powell sees the US economy in a solid position despite increased uncertainty, with the labor market close to full employment and inflation above the 2 percent target.
• The Fed is well positioned to wait for more clarity before any potential adjustments to monetary policy as it continues to analyze incoming data, the evolving outlook and the balance of risks, he said.
• Fed Chairman Jerome Powell explains that the larger-than-expected tariffs so far are likely to lead to higher inflation and slower growth.
• US Federal Reserve Chairman Jerome Powell describes the US economy as 'solid' despite increased uncertainty and downside risks.
• Fed Chairman Jerome Powell believes the US central bank is in a good position to wait for further developments and gain more clarity for the time being.
• Fed Chairman Jerome Powell explains that the US Federal Reserve is well positioned and is currently waiting for more clarity.

Luxury goods group Hermes $RMS (-0,06 %)grows less than expected

• The French luxury group Hermes continued to grow in the first quarter.
• However, the manufacturer of products such as Birkin and Kelly bags fell short of expectations.
• Turnover increased by 8.5 percent to 4.13 billion euros in the first three months of the year, as the EuroStoxx 50 heavyweight announced in Paris on Thursday.
• Adjusted for currency effects, growth amounted to 7.2 percent.
• Experts surveyed by Bloomberg had expected an increase of 7.9 percent.
• Business was particularly disappointing in Asia and the Pacific region, the Group's most important market.
• This makes Hermes the second major luxury goods manufacturer after LVMH to miss analysts' expectations.
• Hermes and LVMH are among the most valuable companies in Europe with a market capitalization of around 250 billion euros and 243 billion euros respectively.

Siemens Energy $ENR (+2,01 %)take aim at record high - strong outlook

• A surprisingly good quarter and an optimistic outlook for the year as a whole boosted Siemens Energy shares on Maundy Thursday.
• Compared to the Xetra close on the previous day, they jumped 7.6 percent to 62.12 euros in pre-market trading on Tradegate.
• This would bring them closer to their record high of 64.56 euros reached in mid-February in Xetra trading.
• The energy technology group's outlook is very strong and clearly better than expected, praised one trader.
• The market consensus is now likely to rise by double digits, wrote analyst Akash Gupta from JPMorgan.

Evotec $EVT (-0,22 %)realigns itself - wants to accelerate growth

• The pharmaceutical drug researcher and developer Evotec is realigning itself.
• According to a statement on Thursday, the company intends to focus on high-value services and therapeutic areas in future and reduce its project portfolio by around 30 percent.
• The company intends to withdraw from investments and focus on the two pillars of drug discovery & preclinical development and the Just - Evotec Biologics division in future, it said. In addition to the current cost program, the company plans to save more than EUR 50 million by 2028.
• Between 2024 and 2028, Evotec is targeting an average annual growth rate of eight to 12 percent.
• The margin on earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for exceptional effects is expected to reach more than 20 percent.
• In the past year 2024, turnover rose by 2% to EUR 797 million in a difficult market environment.
• Adjusted Group EBITDA fell from 66.4 million to 22.6 million euros.
• In the new year, turnover is expected to increase more strongly again, by around five to ten percent to between 840 and 880 million euros.
• Adjusted EBITDA is expected to improve to between 30 and 50 million euros.

Chip manufacturer TSMC $TSM (+0,97 %)increases profit strongly

• Demand for AI servers and smartphones as well as pull-forward effects before US tariffs came into force have boosted the profits of Taiwanese chip manufacturer TSMC in the first quarter.
• The surplus rose by a good 60 percent year-on-year to 362 billion Taiwan dollars (9.8 billion euros), as the world's largest chip contract manufacturer announced on Thursday.
• This is slightly more than analysts had expected.
• As already announced, TSMC increased its turnover by almost 42 percent to 839 billion Taiwan dollars.
• This is the strongest growth since 2022.
• Electronics manufacturers had stocked up on goods in US warehouses in anticipation of trade and shipping disruptions.
• The international trade disputes triggered by the US had recently weighed on sentiment in the industry.
• Recently, however, the US government exempted smartphones, laptops and other important electronics from special tariffs against numerous countries, including China.
• This is a relief for American suppliers of computer technology, most of whose devices are manufactured in Asia.
• It is also positive for US companies that are expanding their data centers for artificial intelligence.
• The devices are mainly built outside the USA by US companies such as Dell, using chips from the Californian company Nvidia, which come from Taiwan.
• Much of the technology was already less affected because many of the servers are assembled in Mexico and fell under exemptions for trade agreements.
• In addition, chip companies such as Intel and TSMC are currently in the process of expanding their production in the USA with new factories.
• It was only at the beginning of March that TSMC announced investments of 100 billion dollars in the coming years.
• However, there are now increasing signs that investment in data centers and AI chips could slow down somewhat.
• Microsoft, for example, has scaled back projects worldwide.
• Some analysts have recently warned that TSMC may have to lower its sales target for the current year in view of the global uncertainty and the potential economic consequences.
• To date, the company has expected sales growth in the mid-20 percent range.
• The company's outlook for the second quarter could now possibly alleviate these fears to some extent.
• According to information released on Thursday, TSMC expects sales of 28.4 to 29.2 billion US dollars for the second quarter of the year.
• This is more than the 27.2 billion US dollars expected by analysts on average.

Thursday: Stock market dates, economic data, quarterly figures

Small expiry day | Stock exchange holiday in Oslo, Copenhagen | Stock exchange trading shortened in Stockholm

• ex-dividend of individual stocks
• PostNL EUR 0.04

• Quarterly figures / company dates USA / Asia
• 07:30 Taiwan Semiconductor quarterly figures
• 11:55 Unitedhealth Group quarterly figures
• 13:00 American Express | Blackstone quarterly figures
• 13:30 State Street | Ally Financial quarterly figures
• 22:00 Netflix quarterly figures

• Quarterly figures / Company dates Europe
• 07:00 ABB Ltd | Evotec | Hamborner Reit Annual Report
• 08:00 Hermes International quarterly figures
• 09:00 Pernod-Ricard 3Q sales
• 10:30 Beiersdorf AGM
• 14:00 Evotec analyst and press conference
• 18:00 L'Oreal 1Q sales
• 18:30 L'Oreal analyst conference

• Economic data

08:00 DE: Manufacturing orders on hand and backlog February | Producer prices March FORECAST: -0.1% yoy/+0.3% yoy previous: -0.2% yoy/+0.7% yoy

08:00 DE: Building permits February | Hospitality sales February

08:00 CH: Trade Balance March

14:15 EU: ECB, outcome of the Governing Council meeting Deposit rate FORECAST: 2.25% previously: 2.50%

14:30 US: Housing Starts/Permits March Housing Starts FORECAST: -6.1% yoy previous: +11.2% yoy Building Permits FORECAST: -1.1% yoy previous: -1.2% yoy

14:30 US: Initial jobless claims (week) PROGNOSE: 225,000 previous: 223,000 | Philadelphia Fed Index April PROGNOSE: 3.5 previous: 12.5

ECB, PK after Governing Council meeting

16:00 US: IMF chief Georgieva, opening speech at the spring meeting of the IMF and World Bank

No time specified:

- US: Japan's Economy Minister Akazawa meets US Treasury Secretary Bessent and Trade Representative Greer

- US: US President Trump receives Italian Prime Minister Meloni at the White House

- MY: China's President Xi, state visit to Malaysia

The German bank has now also used the coalition agreement and the associated special fund as the basis for a list of recommendations.

The result is a list of 10 potential profiteers.

The result:

$CBK (-2,13 %) - Commerzbank

$ENR (+2,01 %) - Siemens Energy

$VOS (+3,66 %) - Vossloh

$HEI (+3,61 %) - Heidelberg Materials

$EVK (+1,53 %) - Evonik

$KGX (+5,51 %) - Kion

$BC8 (+1,42 %) - Bechtle

$COK (-0,28 %) - Cancom

$VOW (+0,86 %) - Volkswagen

$PAL (+5,76 %) - Palfinger

Source: "Welt"

Siemens Energy recorded an order intake of 14.4 billion euros in the second quarter, an increase of 52.3 percent, while sales rose by 20.7 percent to just under 10 billion euros. Earnings before special items reached 906 million euros, which corresponds to a margin of 9.1 percent.

$ENR (+2,01 %)

Hey guys,

I wanted to address a topic that is certainly of interest to us as investors: the reconstruction of Ukraine and which stocks could benefit from it. The geopolitical situation is constantly changing and there are many uncertainties. What happens if Donbass goes permanently to Russia? Will this slow down the reconstruction of Ukraine or could it still create opportunities for companies in the region?

America is getting involved mit🇺🇸

The USA is playing a central role in the reconstruction of Ukraine. A lot of money is already flowing into the region from the US, particularly for infrastructure, energy and technology. But it's not just about government aid - many US companies also have an interest in investing in the region. Considering how heavily the US is involved in supporting countries such as Poland and Ukraine, there are a number of companies here that could definitely benefit.

What happens if the Donbass goes to Russia?⚔️

If the Donbass is finally controlled by Russia, the geopolitical situation will of course worsen. This could slow down reconstruction in Ukraine, as this part of the country was an important industrial location. Nevertheless, billions of euros will flow into the western and central parts of Ukraine, and Poland could become an even more important partner in reconstruction.

Which stocks could benefit?📈🚀

If you look at who is active in the region, there are some exciting candidates that could benefit from the reconstruction. Here are a few companies that I think are well positioned:

♦️ Strabag (Austria): $STR (+2,95 %) A construction company that is active in many infrastructure projects in Europe. They could play an important role in the reconstruction of roads, bridges and buildings - also in Poland and Ukraine.

♦️ PGE (Polska Grupa Energetyczna): $PGE (+0,56 %) Poland's largest energy company. PGE could benefit from the expansion of the energy supply in Ukraine.

♦️ Budimex: $BDX (+0,15 %) Another Polish construction company that is doing well in infrastructure projects. When Ukraine awards major construction contracts, Budimex could be one of the first ports of call.

♦️ KGHM: $KGH (-0,03 %) This company is active in copper production. And we know how important copper is for reconstruction - whether for power lines, machinery or other infrastructure.

♦️ Asseco Poland:
$ACP (+1,21 %) An IT company that is active in many areas. They could play a key role in modernizing the digital infrastructure in Ukraine.

♦️ General Electric (USA) $GEC GE operates globally and Ukraine needs a lot of energy infrastructure. GE could benefit by providing solutions in the field of energy supply.

♦️ Siemens: $SIE (+3,19 %)
$ENR (+2,01 %) The German company could play a crucial role in reconstruction through its expertise in energy and infrastructure.

Conclusion❔☝🏽

The geopolitical situation will keep us busy for some time, but one thing is clear: the reconstruction of Ukraine will require a lot of resources and investment, and many companies from Poland, the EU and the US are well positioned to benefit. Even if the Donbass aligns with Russia, the need for construction projects, energy and technology in western Ukraine and Poland will continue.

What do you think? Which companies do you think are interesting? Do you have any stocks on your radar that have a good chance in this context? Let us hear your opinions and ideas!

A further 25 shares $ENR (+2,01 %) were sold and the capital $AMZN (+0,25 %) and $FLXI (-1,39 %) purchased.

The remainder is used to buy another $ASML (-0,08 %) purchased.

Siemens Energy focuses on gas-fired power plants

Siemens Energy $ENR (+2,01 %) has big plans in the gas-fired power plant sector. The US investment bank Goldman Sachs recently rated the share as a "buy" with a price target of 63 euros. Analyst Ajay Patel sees enormous potential in the gas-fired power plants, which are to be built by the Union and SPD with an impressive output of 20 gigawatts by 2030. In the first quarter of the 2025 financial year, the company already generated over 31% of its sales in the gas sector. These infrastructure projects could not only reduce the valuation gap to GE Vernova, but also boost the share price. On Monday, however, the share price started the day down 9.16% to EUR 50.56, before rising 4.98% to EUR 53.08 the following day. A real up and down that shows how volatile the market can be.

Eutelsat as a Starlink replacement for Ukraine

Eutelsat has positioned itself as a potential Starlink replacement in Ukraine, especially after the US company Maxar blocked access to its satellite images. The EU Commission plans to support Eutelsat in securing satellite communication capacity, which is of great importance for Ukraine. With its OneWeb network, Eutelsat offers a solid European alternative and has already successfully deployed several thousand terminals in Ukraine. On Monday, Eutelsat shares rose 23.69 percent to 7.55 euros in XETRA trading, and the positive trend continued on Tuesday, albeit at a slower pace, with a 0.6 percent increase to 7.51 euros on EURONEXT Paris. An exciting development that shows how important access to communication technologies is in times of crisis.

Asana shares slump after forecast

The US software company Asana $ASAN (+0,36 %) surprised investors on Monday with disappointing financial figures for the fourth quarter and the financial year as a whole. Although turnover rose by 10 percent to USD 188.3 million, the forecasts for the coming quarter and the year as a whole fell short of analysts' expectations. The situation was further complicated by the resignation of CEO Dustin Moskovitz, one of the co-founders. This caused uncertainty among investors. In NYSE trading, Asana shares fell dramatically by 22.78 percent to 12.88 US dollars. Moskovitz emphasized that he would support the board in the search for a successor, which may be a ray of hope for some investors. Nevertheless, the question remains as to how the company will develop without his leadership.

Sources:

https://www.finanzen.net/nachricht/aktien/gas-bereich-im-blick-siemens-energy-aktie-im-fokus-goldman-sachs-sieht-potenzial-14306358

https://www.finanzen.net/nachricht/aktien/geopolitische-bedeutung-eutelsat-als-starlink-alternative-eu-gespraeche-treiben-aktie-nach-oben-14306576

https://www.finanzen.net/nachricht/aktien/bilanz-fuehrungswechsel-asana-im-abwaertssog-ceo-ruecktritt-und-schwache-prognose-setzen-aktie-unter-druck-14307729

Siemens Energy $ENR (+2,01 %) and Rolls-Royce $RR. (+2,69 %) cooperate

The energy technology group Siemens Energy has concluded an agreement with the British industrial group Rolls-Royce for the development of so-called "mini-nuclear power plants". The aim of this agreement is for Siemens Energy to become the sole supplier for the non-nuclear part of the British manufacturer's planned modular nuclear power plants, known as "Turbine Island", the company announced on Friday. This area includes steam turbines, generators and other auxiliary systems. A final contract with all the details is to be signed by the end of 2025.

Intel $INTC (-0,92 %) delays plant launch in the USA

After the plant in Magdeburg, the chip giant Intel is also postponing the start of a huge factory in the US state of Ohio. Production was originally due to start this year, but has now been delayed by up to three years. Intel plans to complete the first part of the plant by 2030, with production starting in the same year or 2031. The second part is scheduled to deliver the first chips in 2032.

Sources:

https://www.manager-magazin.de/unternehmen/energie/siemens-energy-will-mit-rolls-royce-atomkraftwerke-bauen-a-4d96f9c9-e753-4185-8bef-7278896e0b20

https://www.manager-magazin.de/unternehmen/tech/intel-verschiebt-start-von-grossem-werk-in-den-usa-a-094fd7d0-9514-4b9c-983c-e8e0210d87d8

The Bundestag elections have triggered not only political but also immense economic reactions. Former Siemens CEO Joe Kaeser recently stated very clearly that Germany is a restructuring case. He called for a long-term restructuring agenda over the next five years. 📈

Kaeser, who is now Chairman of the Supervisory Board of Siemens Energy $ENR (+2,01 %) spoke to the US news channel CNBC about the challenges facing the new government. In his vision, an "Agenda 2030" should focus on five central areas: Economy, infrastructure and energy, education and innovation, pension system and government reforms.

The stock market's reaction to the election was clearly positive, with the DAX rising. Kaeser emphasizes that citizens are wondering whether their country and institutions are still safe and whether the government is in control. Such questions contribute to unrest and influence economic stability in Germany. It remains exciting to see how the new political structures will affect the economy.

I was inspired by a Focus Money article and because many people here are asking.

I won't be investing myself, it's too short-term for me. But there are still some very interesting companies.

Feel free to write in the comments whether such "copied articles" are of any use to the community or are legally correct :)

The signs of a peace process in Ukraine are solidifying. This is triggering a run on the stock market for shares that could benefit from reconstruction

Regardless of the political interpretation, the stock market has been turning its back on the war for several days now and is betting on the coming peace. Stocks that are likely to benefit from the reconstruction in Ukraine have soared. The UBS Ukraine Reconstruction Index, which comprises 25 of these stocks, has been climbing for days and is at an all-time high. "The effects of a possible ceasefire in Ukraine are still being underestimated on the financial markets," says Bernd Meyer, Chief Investment Strategist and Head of Multi Asset at Berenberg, who is convinced that the rally will continue. Reconstruction requires enormous resources. According to estimates by the World Bank, the costs for this amount to a total of 500 billion dollars - the equivalent of Austria's gross domestic product and more than three times Ukraine's annual economic output before the war. The money is likely to benefit construction companies, suppliers, infrastructure companies and banks in particular. European companies could be the main beneficiaries - especially from neighboring countries such as Poland and Hungary, but also the Czech Republic, Austria and Germany.

With Wärtsilä $WRT1V (-1,32 %) a provider of technologies for the shipping and energy markets, and Konecranes $KCR (+5,85 %) a manufacturer of industrial cranes and drive technology, Finnish companies are also on the list of potential peace beneficiaries - as are Italian companies such as the cement and building materials manufacturer Buzzi $BZU (+3,33 %) The list is long. There is a great need for building materials, steel and cables to restore the destroyed infrastructure and energy supply. There is still no thematic fund or ETF on the beneficiaries of the reconstruction in Ukraine. Investors who want to benefit from this are therefore well advised to combine several securities into a portfolio themselves.

Banks: Erste Group Bank $EBS (+1,56 %) Powszechna K. Osz $PKO (-0,46 %) Santander Polska $SPL (+0,15 %) Polska K. Opieki $PEO (-0,37 %) Raiffeisen Bank Int.$RBI (+1,09 %)

Construction: Wienerberger $WIE (+0,32 %) Sniezka Construction $SKA Strabag $STR (+2,95 %)

Insulation: Kingspan Group $KRX (+4,11 %) Rockwool $ROCK B

Glass: Cie de Saint-Gobain $SGO (+4,18 %)

Cranes: Konecranes $KCR (+5,85 %)

Cement: CRH $CRH (+1,85 %) Buzzi $BZU (+3,33 %) Holcim $HOLN (+1,48 %) Heidelberg Mat. $HEI (+3,61 %)

Construction machinery: Caterpillar $CAT (-0,28 %)

Mining: Ferrexpo $FXPO (+3,83 %) Metso $METSO (+0,02 %)

Chemicals: BASF $BAS (+1,27 %)

Industrial gases: Air Liquide $AI (+0,08 %)

Infrastructure: Schneider Electric $SU (+2,74 %) Rexel $RXL (+2,27 %) Wärtsilä $WRT1V (-1,32 %) Weir Group $WEIR (-0,22 %)

Infrastructure (E): Siemens Energy $ENR (+2,01 %) Prysmian $PRY (+5,03 %) NKT $NKT (+1,69 %) Nexans $NEX (+1,98 %)

Agriculture: Kernel $KER (-0,39 %)

Logistics(warehouse): Kion $KGX (+5,51 %)

Steel: Arcelor Mittal $MT (+0,74 %) and for stainless steels Outukompu $OUT1V (+0,24 %)

Sanitary technology: Geberit $GEBN (+0,64 %)

Specialty chemicals: Evonik $EVK (+1,53 %) Arkema $AKE (+1,03 %) Wacker Chemie $WCH (+2,7 %) Lanxess $LXS (+1,62 %)

Original buy-ins in 2020 were between €20 and €29 - then sold and bought again straight away to take advantage of the allowance and have been running ever since.

Not all times were good, but holding on was worth it. :-) It's amazing how the share is doing. Now I have to start thinking about whether I should take my stake out and just let the profits run.

Any opinions? :)

$ENR (+2,01 %)