06.08.2024 + Worse averted, Nikkei 225 recovers strongly + Fraport expects fewer passengers as problems at Boeing and Airbus put the brakes on + Zalando posts jump in profits + Rational grows more strongly than expected

After the recent sell-off in the DAX showed signs of stabilizing on Tuesday. Broker IG valued the leading German index 0.78% higher at 17,475 points a good two hours before the Xetra start.

Very weak global stock markets in the face of recession worries in the USA had not spared the

the Dax on Monday, but the round mark of 17,000 points had held.

held. The index could now recapture the 200-day line, which is a key indicator of the longer-term trend.

the index could now recapture it, which currently stands at 17,412 points.

In Japan, the leading index Nikkei-225 was on course for recovery on Tuesday. It gained nine percent around an hour before the end of trading there. There were also signs of improvement in the USA on Tuesday after a very weak start to the week.

The online retailer Zalando
$ZAL (-0,7%) continues to benefit from its efficiency measures. Thanks to good inventory management and lower logistics costs, earnings before interest and taxes (EBIT) adjusted for special effects climbed by almost a fifth to 171.6 million euros in the second quarter, as the DAX-listed company announced in Berlin on Tuesday. At the bottom line, profit jumped by almost 70 percent to 95.7 million euros compared to the same period last year. The company confirmed its annual targets. Zalando emphasized that demand had increased strongly, especially in the sports, designer and beauty sectors. The gross merchandise value for the three months to the end of June rose by 2.8 percent to 3.8 billion euros. Sales increased by 3.4 percent to around 2.6 billion euros.

The commercial kitchen equipment supplier Rational
$RAA (+1,18%) benefited from high demand in Asia in the first half of the year. Compared to the previous year, sales increased by four percent to 581 million euros, as the MDax-listed company announced in Landsberg on Tuesday. Sales in the second quarter increased by six percent to a record figure of just under 295 million euros. Earnings before interest and taxes (EBIT) increased by ten percent to 149 million euros in the first half of the year. Rational slightly exceeded the expectations of experts surveyed by Bloomberg in terms of both sales revenue and profit. The forecast for the current year was also confirmed.

The Frankfurt airport operator Fraport
$FRA (+5,53%) is feeling the effects of the problems at Boeing. Due to delivery bottlenecks for aircraft for its main customer Lufthansa, fewer passengers will be handled in Frankfurt this year than previously hoped for, as Fraport announced in Frankfurt on Tuesday. The Executive Board now expects only the lower half of the previously announced range of 61 to 65 million passengers at Germany's largest airport. Another reason is further maintenance intervals for the Airbus 320 . Meanwhile, Fraport performed better than analysts had expected in the second quarter. In the three months to the end of June, revenue rose by almost 11 percent to around 1.15 billion euros. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to just under 355 million euros. Fraport reported a Group result of around 148 million euros and the bottom line profit amounted to 134 million euros. A year earlier, this had amounted to 102 million euros. The management headed by Stefan Schulte confirmed the forecasts for the operating profit. The US aircraft manufacturer Boeing is no longer allowed to ramp up production of its medium-haul jets due to quality defects. And hundreds of Airbus planes will have to stay on the ground longer because engine manufacturer Pratt & Whitney has ordered their turbines back to the workshops ahead of schedule.

Economic data

• 08:00 DE: New orders June seasonally adjusted FORECAST: +0.5% yoy previous: -1.6% yoy
• 11:00 EU: Retail Sales June Eurozone PROGNOSE: +0.2% yoy previous: +0.1% yoy
• 14:30 US: Trade Balance June FORECAST: -72.50 bn USD previously: -75.07 bn USD

Quarterly figures / company dates USA / Asia

12:30 Caterpillar quarterly figures

13:00 Uber quarterly figures

22:01 Amgen quarterly figures

22:05 Airbnb quarterly figures

Untimed: The Mosaic quarterly figures

Quarterly figures / Company dates Europe

07:00 Carl Zeiss Meditec | Fraport | Rational Quarterly figures

07:00 Zalando | Adecco Quarterly figures

07:30 Bayer | Manz half-year figures

08:00 Schaeffler | Banca Monte dei Paschi Quarterly figures

08:00 Cherry | New Work quarterly figures

09:30 Zalando Analyst Conference

14:00 Bayer | Fraport Analyst Conference

15:00 Rational Analyst Conference