Monday:
Unsurprisingly, both June and July were the hottest months ever recorded in Europe. This is having an increasingly significant impact on the economy. Both shipping routes and electricity production are being restricted. Low water levels in the Rhine, Danube, and Po rivers, in particular, are causing problems. Wildfires are also affecting tourism.
Wednesday:
Unlike $MUV2 (+1,67 %) Munich Re, $HNR1 (+1,18 %) Hannover Re increased its profit to 1.4 billion euros in the first half of the year. Overall, prices in the reinsurance business fell by about 4%. Despite this, revenue still rose by 0.2%.
Germany has approved an early retirement pension for all children born in 2020 or later. Parents can either have the money deposited into an account they open themselves, or the Bundesbank will invest it directly in the stock market on the children’s behalf. Parents and grandparents can contribute additional funds to the 10 euros per month.
https://www.tagesschau.de/inland/innenpolitik/kabinettsbeschluss-fruehstartrente-100.html
Thursday:
Record revenue for car rental company $SIX2 (+2,1 %) Sixt in the first half of the year. Overall, revenue increased by 9% to 2.1 billion euros. Profit rose by more than 28% to 84.5 million euros.
Friday:
One day after the quarterly results and the confirmed forecast, $EKT (+0,38 %) Energiekontor revised its forecast because wind farms in Scotland will be connected to the grid later than expected. This is, of course, a major misstep in capital market communication. The information from Scotland must have come in yesterday; otherwise, it’s also legally questionable.
