Slump in the DAX: investors are seeing red

There is a great deal of uncertainty on the stock markets at the moment, and this is being further fueled by US President Trump's aggressive tariff policy. On the last trading day of the week, investors have to accept massive losses in the Dax. Of the 40 companies listed in the leading German index, only two shares were able to record a positive closing price. The remaining 38 stocks experienced double-digit declines in some cases. Deutsche Bank was particularly affected $DBK (+2,4%)which fell by 9.77 percent, and MTU Aero Engines $MTX (-6,48%)whose shares fell by 8.11 percent. Deutsche Börse, Infineon $IFX (+1,78%) and Siemens Energy $SIE (-2,31%) also suffered losses of more than 7 percent. The Dax itself closed 4.95 percent lower at 20,641.72 points.

Trade war continues to weigh on the markets

Pressure on the markets remains high as uncertainty over trade relations between the USA and China persists. China's announcement that it would impose counter-tariffs on US goods has heightened fears of a full-scale trade war. At times on Friday, the Dax fell by up to 5.6 percent to 20,579 points. The MDax and EuroStoxx50 also suffered significant losses. There were significant declines in the banking sector in particular, which is heavily dependent on economic developments. Deutsche Bank and Commerzbank $CBK recorded losses of up to 12.1 and 9.3 percent respectively. Volatility on the markets is likely to remain high as long as the uncertainty surrounding customs policy persists.

Slight stability at Adidas and Beiersdorf

Despite the general downward trend, there were also some bright spots in the Dax. The shares of Adidas $ADS (-0,06%) were able to maintain their position as the lone frontrunner with a plus of 0.54 percent. Symrise $SY1 (+1,26%) and Beiersdorf $BEI (-0,41%) also remained relatively stable, with Symrise recording a minimal gain of 0.01%, while Beiersdorf fell by 0.37%. Investors are hoping that the negative spiral of tariffs and counter-tariffs can be halted through negotiations, but the uncertainties remain and could continue to weigh on the markets.

Sources:

https://www.n-tv.de/wirtschaft/Das-sind-die-groessten-Verlierer-im-Dax-article25682125.html

https://www.n-tv.de/wirtschaft/Dax-schmiert-ab-US-Zoelle-China-Zoelle-und-jetzt-article25681044.html

At 53 billion euros, the 40 DAX companies are likely to pay out almost one billion euros more this year than a year ago - more than ever before.

The reason for the strong development is high consolidated profits and unexpectedly rising dividends at a good dozen companies, including $ALV (-0,42%) Allianz, $MUV2 (+0,3%) Munich Re and $RHM (+0,59%) Rheinmetall.

At 109 billion euros net profit, the DAX companies are likely to have earned as much in 2024 as in the previous year, according to Handelsblatt calculations. Slump in earnings for the three car manufacturers $BMW (+1,87%) BMW, $MBG (+1,52%) Mercedes and $VOW (+0,08%) VW will be offset by companies in other sectors, in particular the major insurers Allianz, Munich Re and $HNR1 (+0,3%) Hannover Re, but also $DTE (-2,65%) Deutsche Telekom, $HEN (-0,57%) Henkel and $EOAN (+1,48%) Eon.

More than a dozen DAX companies have announced higher dividends than the market had previously expected. For example $ALV (-0,42%) 15.40 euros per share after 13.80 euros in the previous year. Analysts had forecast just under 15 euros. The insurer is thus distributing just under six billion euros. This is a record in the German corporate landscape.

The biggest jump is at $MUV2 (+0,3%) Munich Re: The reinsurer is increasing its dividend by five euros per share to 20 euros.

The two healthcare specialists $FRE (+0,52%) Fresenius and $FME (-1,08%) Fresenius Medical Care, the brand manufacturer $HEN (-0,57%) Henkel, the automotive supplier $BTR Continental, the $CBK (+1,06%) Commerzbank, $RHM (+0,59%) Rheinmetall and $HNR1 (+0,3%) Hannover Re have raised their dividends, in some cases significantly more than expected. This is also due to rising profits, which justify a higher profit share for shareholders.

The Symrise share $SY1 (+1,26%) is on the road to recovery! 🚀 On Friday, the share price climbed by 1.62% to EUR 98.86, putting it at the top of the DAX. The share price is currently at EUR 97.68 and is thus on its way to breaking away from the recent lows.

One reason for the positive development is the recently announced strategic partnership with the Norwegian company Hofseth BioCare ASA. This collaboration focuses on ingredients from Atlantic salmon that are important for both human health and animal nutrition. Symrise CEO Jean-Yves Parisot emphasizes that this cooperation fits perfectly into the strategy to strengthen the health sector.

Despite the current positive trend, the share is still in the red in 2025. It remains to be seen whether this trend will continue. What do you think about the development of Symrise? Do you think the partnership will take the company forward?

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- EXANE BNP raises the price target for ALLIANZ SE from EUR 271 to EUR 295. Underperform. $ALV (-0,42%)

- BARCLAYS raises the target price for AIRBUS from EUR 166 to EUR 200. Overweight. $AIR (-3,15%)

- UBS raises its price target for SAP from EUR 237 to EUR 283. Buy. $SAP (-0,47%)

- BERENBERG raises the price target for LVMH from EUR 695 to EUR 720. Buy. $MC (+1,23%)

- EXANE BNP raises the target price for MUNICH RE from EUR 550 to EUR 560. Outperform. $MUV2 (+0,3%)

- RBC raises the target price for SIEMENS from EUR 205 to EUR 225. Outperform. $SIE (-2,31%)

- CITIGROUP raises the price target for STELLANTIS from EUR 12.40 to EUR 13. Neutral. $STLA

- KEPLER CHEUVREUX raises the target price for DOUGLAS from 28.60 EUR to 29.90 EUR. Buy. $DOU (-2,16%)

- CITIGROUP raises the target price for DWS from EUR 43 to EUR 44.70. Buy. $DWS (-0,24%)

- CITIGROUP raises the price target for FRAPORT from EUR 62 to EUR 72. Buy. $FRA (+1,87%)

- UBS upgrades AMADEUS IT from Neutral to Buy and raises target price from EUR 67 to EUR 80. $AMS (+0,12%)

- DEUTSCHE BANK RESEARCH raises target price for PHILIPS from EUR 25 to EUR 26. Hold. $PHIA (+1,25%)

- DEUTSCHE BANK RESEARCH raises the target price for MAN GROUP from GBP 2.65 to GBP 2.75. Buy.

- GOLDMAN raises the target price for RIO TINTO from GBP 67 to GBP 73. Buy. $RIO (+2,64%)

- JEFFERIES raises the price target for SIEMENS ENERGY from EUR 31 to EUR 50. Hold. $ENR (+2,25%)

- RBC raises the target price for SCHNEIDER ELECTRIC from EUR 195 to EUR 210. $SU (+0,86%) Underperform.

- EXANE BNP upgrades HANNOVER RÜCK from Neutral to Outperform and raises target price from EUR 265 to EUR 285. $HNR1 (+0,3%)

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- DEUTSCHE BANK RESEARCH lowers the price target for NOVO NORDISK from DKK 1000 to DKK 900. Buy. $NOVO B (+3,88%)

- BOFA lowers the target price for RWE from EUR 44 to EUR 42. Buy. $RWE (+0,94%)

- JPMORGAN lowers the price target for NETFLIX from USD 1010 to USD 1000. Overweight. $NFLX (-1,27%)

- MORGAN STANLEY lowers the price target for SYMRISE from EUR 137 to EUR 130. Overweight. $SY1 (+1,26%)

- KEPLER CHEUVREUX lowers the target price for REDCARE PHARMACY from EUR 145 to EUR 138. Hold. $RDC (+3,74%)

- WARBURG RESEARCH lowers the target price for BECHTLE from EUR 51 to EUR 45. Buy. $BC8 (+3,52%)

- STIFEL downgrades WACKER CHEMIE from Buy to Hold. $WCH (+1,25%)

- RBC lowers the price target for DAIMLER TRUCK from EUR 55 to EUR 51. Outperform. $DTG (-0,5%)

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- KEPLER CHEUVREUX raises the price target for SAP from EUR 200 to EUR 230. Hold. $SAP (-0,47%)

- UBS upgrades HUGO BOSS from Neutral to Buy and raises target price from EUR 41 to EUR 49. $BOSS (+0,9%)

- BOFA raises the price target for FRAPORT from EUR 55 to EUR 56. Neutral. $FRA (+1,87%)

- UBS raises target price for RICHEMONT from CHF 144 to CHF 150. Buy. $CFR (-0,27%)

- BOFA upgrades HOCHTIEF from Neutral to Buy and raises target price from EUR 112 to EUR 140. $HOT (+1,02%)

- JPMORGAN raises target price for FEDEX from USD 350 to USD 366. Overweight. $FDX (-0,59%)

- JPMORGAN raises the price target for ROCHE from CHF 220 to CHF 230. Underweight. $ROG (+0,38%)

- UBS upgrades BMW from Neutral to Buy and raises target price from EUR 75 to EUR 83. $BMW (+1,87%)

- JEFFERIES raises target price for UNICREDIT from EUR 47 to EUR 49. Buy. $UCG (-0,13%)

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- HAUCK AUFHÄUSER IB lowers the price target for DELIVERY HERO from EUR 61 to EUR 52. Buy. $DHER (-1,66%)

- BARCLAYS lowers the target price for VOLKSWAGEN VORZÜGE from EUR 110 to EUR 100. Overweight. $VOW (+0,08%)

- BARCLAYS lowers the target price for PORSCHE SE from EUR 35 to EUR 30. Underweight. $PAH3 (+2,03%)

- UBS downgrades MERCEDES-BENZ from Buy to Neutral and lowers target price from EUR 72 to EUR 55. $MBG (+1,52%)

- EXANE BNP downgrades HYPOPORT from Outperform to Neutral. $HYQ (+0,46%)

- HAUCK AUFHÄUSER IB lowers the price target for IBU-TEC from EUR 12 to EUR 7.40. Hold. $IBU (+4,93%)

- KEPLER CHEUVREUX downgrades SYMRISE from Buy to Hold and lowers target price from EUR 122 to EUR 114. $SY1 (+1,26%)

- DEUTSCHE BANK RESEARCH lowers the price target for SANOFI from EUR 90 to EUR 85. Sell. $SAN (+1,42%)

- JPMORGAN lowers the price target for CARL ZEISS MEDITEC from EUR 56 to EUR 45. Underweight. $AFX (+1,85%)

- JPMORGAN lowers the price target for SARTORIUS from EUR 290 to EUR 275. Overweight. $SRT (+1,24%)

Analyst updates, 28.11.

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- HAUCK AUFHÄUSER IB raises the price target for ECKERT & ZIEGLER from EUR 55 to EUR 56.50. Buy. $EUZ (+1,74%)

- EXANE BNP raises the target price for FREENET from EUR 30 to EUR 34. Outperform. $FNTN (+1,25%)

- HAUCK AUFHÄUSER IB raises the price target for NORTHERN DATA from EUR 45 to EUR 52. Buy. $NB2 (-2,93%)

- WARBURG RESEARCH raises the price target for PATRIZIA from EUR 9.80 to EUR 9.90. Buy. $PAT (+7,36%)

- DEUTSCHE BANK RESEARCH raises the price target for EASYJET from GBP 6.70 to GBP 7.15. Buy. $EZJ (-1,42%)

- EXANE BNP upgrades TRATON to Outperform. Target price EUR 35. $8TRA (+1,07%)

- JPMORGAN raises the price target for CTS EVENTIM from EUR 101 to EUR 104. Overweight. $EVD (+0,45%)

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- BRYAN GARNIER lowers the price target for LVMH from EUR 800 to EUR 770. Buy. $MC (+1,23%)

- KEPLER CHEUVREUX lowers the price target for PORSCHE SE from EUR 48 to EUR 47. Buy. $PAH3 (+2,03%)

- DEUTSCHE BANK RESEARCH lowers the price target for SYMRISE from EUR 130 to EUR 125. Buy. $SY1 (+1,26%)

- WARBURG RESEARCH lowers the price target for ABO ENERGY from EUR 114 to EUR 110. Buy. $AB9 (+1,38%)

- EXANE BNP lowers the target price for 1&1 from EUR 15 to EUR 12. Neutral. $1U1 (+4,21%)

- EXANE BNP lowers the price target for UNITED INTERNET from EUR 20 to EUR 17. Neutral. $UTDI (+0%)

- STIFEL downgrades COMPUGROUP from Buy to Hold and lowers target price from EUR 64 to EUR 18. $COP (+1%)

- BARCLAYS lowers the price target for SCHOTT PHARMA from EUR 33 to EUR 27. Equal-Weight. $1SXP (+8,29%)

- UBS lowers the price target for VESTAS from DKK 245 to DKK 175. Buy. $VWS (+1,35%)

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- GOLDMAN raises the price target for DELL from USD 155 to USD 165. Buy. $DELL (+2,53%)

- GOLDMAN raises the price target for ANALOG DEVICES from USD 247 to USD 261. Buy. $ADI (-0,89%)

- GOLDMAN raises the price target for HP INC from USD 35 to USD 38. Neutral. $HPQ (+0,34%)

- WARBURG RESEARCH raises the price target for VONOVIA from EUR 40.20 to EUR 42.30. Buy. $VNA (+6,45%)

- 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 (+1,56%)

- MORGAN STANLEY raises the target price for DEUTSCHE TELEKOM from EUR 33 to EUR 38. Overweight. $DTE (-2,65%)

- GOLDMAN raises the price target for TRATON from EUR 31.80 to EUR 35.50. Neutral. $8TRA (+1,07%)

- GOLDMAN raises the price target for BRENNTAG from EUR 94 to EUR 95. Buy. $BNR (+2,81%)

- BERENBERG upgrades EQUINOR from Hold to Buy and raises target price from NOK 290 to NOK 325. $EQNR (+1,55%)

- JPMORGAN raises the target price for BEIERSDORF from EUR 150 to EUR 160. Overweight. $BEI (-0,41%)

- JPMORGAN upgrades HENKEL from Neutral to Overweight and raises target price from EUR 82 to EUR 100. $HEN (-0,57%)

- JPMORGAN upgrades BRITISH AMERICAN TOBACCO to Neutral. $BATS (+0,98%)

- JPMORGAN raises the price target for EON from EUR 15.50 to EUR 16. Overweight. $EOAN (+1,48%)

- JPMORGAN raises the target price for AUTO1 from EUR 12.10 to EUR 17.10. Overweight. $AG1 (-2,68%)

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- STIFEL lowers the price target for SIEMENS from EUR 207 to EUR 202. Buy. $SIE (-2,31%)

- JPMORGAN lowers the price target for HP INC from USD 41 to USD 40. Overweight. $HPQ (+0,34%)

- WARBURG RESEARCH lowers the price target for LANXESS from EUR 40 to EUR 37. Buy. $LXS (-0,22%)

- CITIGROUP lowers the price target for BASF from EUR 49 to EUR 46. Neutral. $BAS (+0,89%)

- RBC lowers the target price for COMMERZBANK from EUR 18 to EUR 17.25. Sector Perform. $CBK (+1,06%)

- RBC lowers the target price for ING from EUR 17.50 to EUR 16.75. Sector-Perform. $ING (+1,9%)

- RBC lowers the price target for BNP PARIBAS from EUR 79 to EUR 78. Outperform. $BNP (-1,13%)

- JPMORGAN lowers the price target for ELRINGKLINGER from EUR 6.70 to EUR 6. Neutral. $ELLRY (-4,67%)

- JPMORGAN lowers the price target for SYMRISE from EUR 130 to EUR 120. Overweight. $SY1 (+1,26%)

Analyst updates, 22.11.

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- WARBURG RESEARCH raises the price target for SYMRISE from EUR 115 to EUR 116. Hold. $SY1 (+1,26%)

- HAUCK AUFHÄUSER IB upgrades SECUNET from Hold to Buy and raises target price from EUR 102 to EUR 123. $YSN (+1,63%)

- CITIGROUP raises the price target for ALSTOM from EUR 22 to EUR 26. Buy. $ALO (+1,59%)

- BERENBERG upgrades BRENNTAG from Hold to Buy. Target price EUR 76. $BNR (+2,81%)

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- WARBURG RESEARCH lowers the price target for PROSIEBENSAT.1 from EUR 8 to EUR 6.50. Hold. $PSM (+0,7%)

- WARBURG RESEARCH lowers the price target for RTL from EUR 40 to EUR 34. Buy. $RTLL (-0,81%)

- LBBW lowers the price target for LANXESS from EUR 29 to EUR 28. Buy. $LXS (-0,22%)

- HAUCK AUFHÄUSER IB lowers the price target for CTS EVENTIM from EUR 107 to EUR 105. Buy. $EVD (+0,45%)

- HAUCK AUFHÄUSER IB lowers the price target for BEFESA from EUR 38 to EUR 35. Buy. $BFSA (-5,07%)

- BERENBERG lowers the target price for RENK from EUR 35 to EUR 33. Buy. $DE000RENK730 (+0,45%)

- UBS lowers target price for RWE from EUR 49 to EUR 45. Buy. $RWE (+0,94%)

20.11.2024

Walmart raises forecast again + Bitcoin: Is the next price explosion already in the starting blocks + Symrise wants to take over Swedish biotech company Probi completely

The US supermarket group Walmart $WMT (+1,45%) is once again raising its forecast. Net sales are expected to increase by 4.8 to 5.1 percent in the current financial year (until the end of January), excluding currency effects, as the company announced on Tuesday in Bentonville, Arkansas. Walmart had already raised its outlook in mid-August and expected growth of 3.75 to 4.75 percent. The share price rose by almost five percent in pre-market trading and is therefore likely to continue its record rally. According to the new forecast, operating profit adjusted for special effects is expected to increase by 8.5 to 9.25 percent. Previously, the supermarket group had only expected 6.5 to 8 percent. Walmart is now planning adjusted earnings per share of 2.42 to 2.47 US dollars, compared to the previous target of 2.35 to 2.43 dollars. In the third quarter of the financial year to the end of October, sales rose by 5.5 percent to 169.6 billion dollars (160.58 billion euros) compared to the same period last year. Adjusted for currency effects, the increase amounted to 6.2 percent. Adjusted operating profit increased nominally by 8.2 percent to 6.7 billion dollars. Adjusted earnings per share rose by just under 14 percent to 0.58 dollars. Walmart's figures exceeded analysts' expectations.

In the USA, another milestone in the development of Bitcoin $BTC (+4,68%) into an established investment instrument. Yesterday, trading in options on the BlackRock Bitcoin ETF (IBIT) $IBIT started yesterday. This could lead to a huge price explosion à la MicroStrategy $MSTR (+8,8%) price explosion. On November 18, the Options Clearing Corporation (OCC) announced that the necessary regulatory preparations had been completed. The IBIT ETF will be the first Bitcoin spot ETF on which options can be traded. Nasdaq plans to list the options starting November 19, as Alison Hennessy, Head of ETP Listings, explained.

The probi main shareholder Symrise $SY1 (+1,26%) wants to acquire its Swedish biotech investment. The manufacturer of fragrances and flavors wants to pay 350 Swedish crowns (30.24 euros) in cash for each outstanding share, the DAX-listed company announced on Wednesday. The offer corresponds to a premium of 42 percent compared to the closing price on Tuesday. In total, the Probi acquisition is valued at just under four billion crowns (344 million euros). Shareholders are expected to be able to accept the offer from December 18. Symrise already holds almost 70 percent of the shares in Probi. The largest shareholders after Symrise, Fjärde AP-fonden and Moneta Asset Management, have also already accepted the offer - they hold just under 18 percent of the outstanding shares. As soon as Symrise owns more than 90 percent of all shares, Probi will reportedly be delisted from the stock exchange.

Wednesday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Hasbro USD 0.70

Target 1.12 USD

Quarterly figures / company dates USA / Asia

14:30 Delta Air Lines Investor Day

15:00 Stanley Black & Decker Capital Capital Markets Day

22:20 Nvidia quarterly figures

No time specified: Snowflake | Target | Palo Alto Networks Quarterly figures

Quarterly figures / Company dates Europe

08:00 Sage Group | British Land Company Quarterly figures

08:30 Symrise Capital | STMicroelectronics Markets Day

09:00 Novartis: Meet Novartis Management 2024

09:30 VW: IG Metall - Volkswagen Works Council, presentation of future concept for the VW brand

10:00 HSBC Holdings AGM

Economic data

• 00:50 JP: Trade Balance November Trade Balance PROGNOSE: -345.2 bn Yen previous: -294.3 bn Yen Exports PROGNOSE: +3.9% yoy previous: -1.7% yoy
• 02:00 CN: People's Bank of China (PBoC), decision on reference rates for corporate loans Reference rate 1-year loans PROGNOSE: 3.10% previously: 3.10% Reference rate 5-year loans PROGNOSE: 3.60% previously: 3.60%
• 08:00 DE: Producer prices October PROGNOSE: -0.4% yoy/-0.9% yoy previous: -0.5% yoy/-1.4% yoy
• 08:00 UK: Consumer Prices October PROGNOSE: +0.5% yoy/+2.2% yoy previous: 0.0% yoy/+1.7% yoy | Producer Prices October (Output) PROGNOSE: +0.2% yoy/+0.7% yoy previous: -0.5% yoy/-0.7% yoy

Analyst updates, 15.11. 👇🏼

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- JEFFERIES raises the price target for ASML from EUR 760 to EUR 840. Buy. $ASML (+1,18%)

- RBC raises the price target for TESLA from USD 249 to USD 313. Outperform. $TSLA (-2,49%)

- JPMORGAN raises the price target for WALT DISNEY from USD 125 to USD 128. Overweight. $DIS (-1,38%)

- JPMORGAN raises the price target for SIEMENS from EUR 215 to EUR 230. Overweight. $SIE (-2,31%)

- BARCLAYS raises the target price for SIEMENS ENERGY from EUR 21 to EUR 35. Equal-Weight. $ENR (+2,25%)

- LBBW raises the target price for EON from EUR 13.80 to EUR 13.90. Buy. $EOAN (+1,48%)

- HAUCK AUFHÄUSER IB raises the target price for ADESSO from EUR 80 to EUR 85. Hold. $ADN1 (-1,82%)

- DEUTSCHE BANK RESEARCH raises the target price for BURBERRY from GBP 7.40 to GBP 8.60. Hold. $BRBY (+3,56%)

- BERENBERG raises the price target for TALANX from EUR 76.20 to EUR 91.10. Buy. $TLX (-0,16%)

- BERENBERG raises the price target for HAPAG-LLOYD from EUR 163 to EUR 169. Hold. $HLAG (+5,36%)

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- JPMORGAN lowers the price target for BAYER from EUR 34 to EUR 25. Neutral. $BAYN (+2,12%)

- SANTANDER downgrades SHELL from Neutral to Outperform and lowers target price from GBP 30.50 to GBP 30. $SHEL (+1,28%)

- WARBURG RESEARCH lowers the price target for SECUNET from EUR 216 to EUR 210. Buy. $YSN (+1,63%)

- METZLER lowers the price target for SIXT-STÄMME from EUR 105 to EUR 95. Buy. $SIX2 (+1,08%)

- ODDO BHF lowers the target price for MERCK KGAA from EUR 187 to EUR 176. Outperform. $MRK (+0,58%)

- METZLER lowers the price target for SMA SOLAR from EUR 20 to EUR 16. Hold. $S92 (-7,77%)

- DEUTSCHE BANK RESEARCH lowers the price target for GRENKE from EUR 28 to EUR 24. Buy. $GLJ (+0,91%)

- BERENBERG lowers the target price for K+S from EUR 15.70 to EUR 14.70. Buy. $SDF (+7,61%)

- BERENBERG lowers the price target for AUMANN from EUR 17 to EUR 14.50. Hold. $AAG (+0,98%)

- BERENBERG lowers the price target for DERMAPHARM from EUR 58 to EUR 50. Buy. $DMP (+1,18%)

- BARCLAYS lowers the price target for SYMRISE from EUR 123 to EUR 115. Equal-Weight. $SY1 (+1,26%)