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DAX Recovers After 200 Points Fall; Adidas Rises On Strong Earnings

RTTNews | Před 124 dny

DAX Recovers After 200 Points Fall; Adidas Rises On Strong Earnings

(RTTNews) - German stocks are down in negative territory on Thursday amid uncertainty about U.S. tariffs on China and other countries, and on a mixed batch of earnings updates from European companies. Also, investors are looking to take some profits after previous session's sharp upmove.

The benchmark DAX, which dropped more than 200 points to 21,728.89 earlier in the session, was down 95.30 points or 0.43% at 21,836.89 a little while ago.

SAP, which closed with a hefty gain on Wednesday thanks to strong quarterly results, is down 2.5% today on profit taking.

Brenntag and Siemens Energy are down 2.4% and 2.1%, respectively. Rheinmetall, Zalando, Commerzbank, MTU Aero Engines, BASF, Siemens, Daimler Truck Holding and Heidelberg Materials are lower by 1 to 1.7%.

Adidas is up nearly 3% after delivering better-than-expected sales and profit for the first quarter. The sportswear maker reported that its preliminary operating profit for the first quarter of 2025 climbed to 610 million euros from last year's 336 million euros.

The company's gross margin improved to 52.1% compared to 51.2% last year. The year-over-year increase of the gross margin for the adidas brand was even stronger at 1.6 percentage points. Quarterly revenues grew to 6.153 billion euros from 5.458 billion euros in the prior year. In currency-neutral terms, sales increased 13%.

Vonovia, Infineon Technologies and Symrise are gaining 1.7 to 2%.

Porsche Automobil Holding, RWE, Fresenius Medical Care and Bayer are up 1 to 1.3%. Fresenius and Continental are moderately higher.

A report from the Ifo Institute said that the Ifo Business Climate indicator for Germany edged higher to 86.9 in April from 86.7 in the previous month. April reading was the highest since July 2024. The business conditions index dropped to 86.9, while the current conditions index rose to 86.4 from 85.7 in the previous month.

However, the expectations index eased to 87.4 from 87.7, still above the consensus of 85, but reflecting higher uncertainty for companies as the risk of trade wars and protectionism triggered turbulence.

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U.S. Dollar Falls Against Majors

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The U.S. dollar dropped against its major counterparts in the New York session on Tuesday.

RTTNews | Před 33 minutami

TSX Modestly Higher As Financials, Mining Stocks Move Up

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RTTNews | Před 2 h 54 min

Swiss Market Settles Weak

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RTTNews | Před 3 h 12 min

European Stocks Close Lower On Political Concerns, Tariff Worries

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European stocks closed weak on Tuesday, weighed down by political uncertainty in France, and lingering concerns about tariffs and their impact on global economic growth.

RTTNews | Před 3 h 35 min

U.S. Consumer Confidence Index Edges Lower In August

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A report released by the Conference Board on Tuesday showing a modest deterioration by consumer confidence in the U.S. in the month of August. The Conference Board said its consumer confidence index dipped to 97.4 in August from an upwardly revised 98.7 in July.

RTTNews | Před 7 h 4 min

U.S. Durable Goods Orders Slump 2.8% In July, Much Less Than Expected

U.S. Durable Goods Orders Slump 2.8% In July, Much Less Than Expected

Reflecting a continued plunge by orders for transportation equipment, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of July. The Commerce Department said durable goods orders slumped by 2.8 percent in July after plummeting by a revised 9.4 percent in June.

RTTNews | Před 7 h 16 min

Bay Street May Open On Weak Note

Bay Street May Open On Weak Note

Canadian shares look headed for negative start on Tuesday, weighed down by weak oil prices, and concerns about global trade after U.S. President Donald Trump threatened 200% tariffs on China if Beijing does not export rare-earth magnets to the U.S.

RTTNews | Před 8 h 34 min

U.S. Durable Goods Orders Tumble Less Than Expected In July

U.S. Durable Goods Orders Tumble Less Than Expected In July

Reflecting a continued plunge by orders for transportation equipment, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of July.

RTTNews | Před 8 h 40 min

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