28.11.2024
Uniper raises profit outlook for 2024 - reserves released + Swinging stock market continues with price gains + Rents in Germany will rise in 2025
The nationalized energy group Uniper $UN01 is more optimistic about the end of the financial year due to the reversal of a provision. The company announced on Wednesday evening that adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) will be between 2.5 and 2.8 billion euros in 2024. Uniper had previously expected between 1.9 and 2.4 billion euros. Adjusted net profit is expected to amount to 1.5 to 1.8 billion euros. Most recently, the company had assumed a maximum of 1.5 billion euros. Uniper has resolved long-standing legal disputes by way of a settlement, the company said. This will lead to a reversal of the provision formed for this purpose, which will be recognized in profit or loss for the 2024 financial year in the fourth quarter. Investors welcomed the news. The Uniper share recently rose by 3 percent compared to the Xetra closing price on the Tradegate trading platform.
The search for direction on the DAX $GDAXI could continue with price gains on Thursday. Two hours before the Xetra start, the broker IG valued the leading German index 0.4 percent higher at 19,336 points. It thus stands out slightly from the international stock markets. In the USA, the indices had shown weakness on the day before the Thanksgiving holiday and in Asia the picture was mixed with gains in Japan and losses in China. Reports that the USA, under the leadership of outgoing President Joe Biden, is considering new sanctions to restrict Beijing's access to important semiconductors weighed particularly heavily on Hong Kong. Japanese shares rose due to the weakness of the yen.
Rents at LEG real estate $LEG (+0%) are rising. "We will increase rents slightly more in 2025," Lars von Lackum, CEO of Germany's second-largest real estate group LEG Immobilien, told Handelsblatt. "We assume that the increase in rents will be above 4 percent." In the current year, the Düsseldorf-based company, which has more than 166,000 apartments, expects its privately financed rents to grow by 3.8 to 4.0 percent. Its larger rival Vonovia $VNA (+0%) has already announced that rents will rise in 2025. When presenting its nine-month figures, the DAX-listed group forecast rental growth of around 4 percent for 2025. The pressure on rents will therefore continue in the coming year. Lackum also justified the further increases with the effects of the rent index, which will only gradually allow rents to be adjusted to inflation. (Handelsblatt)
Thursday: Stock market dates, economic data, quarterly figures
Stock exchanges in the USA closed (Thanksgiving Day)
ex-dividend of individual stocks
Imperial Brands GBP 0.54
Quarterly figures / company dates Europe
07:00 Adler Group quarterly figures
07:30 Manz quarterly figures
08:00 Deutsche Beteiligungs AG Annual results
No time specified:
- Delivery Hero: Subsidiary Talabat: Last day to subscribe for shares for private and institutional investors
- Rational AG: Capital market day
- Remy Cointreau half-year figures
Economic data
- 02:00 KR: Bank of Korea, outcome of the Monetary Policy Council Base Rate meeting PROGNOSIS: 3.25% previously: 3.25%
- 09:00 ES: HICP and consumer prices (preliminary) November HICP PROGNOSE: +2.3% yoy previously: +1.8% yoy
- 10:00 EU: ECB, M3 money supply and lending October M3 money supply FORECAST: +3.4% yoy previously: +3.2% yoy
- 11:00 EU: Economic Sentiment Index November Economic Sentiment Eurozone PROGNOSE: 95.1 PREV: 95.6 Industrial confidence Eurozone PROGNOSE: -13.0 PREV: -13.0 Consumer confidence Eurozone PROGNOSE: -13.7 PREV: -13.7 PREV: -12.5
- 14:00 DE: Consumer Prices (preliminary) November FORECAST: -0.2% yoy/+2.3% yoy Previous: +0.4% yoy/+2.0% yoy HICP FORECAST: -0.5% yoy/+2.6% yoy Previous: +0.4% yoy/+2.4% yoy
