DAX Rises Nearly 1% On Encouraging Earnings, Economic Data

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(RTTNews) - German stocks are up in positive territory Thursday morning with investors reacting to a slew of earnings updates, and factory orders and construction PMI data, while continuing to assess the U.S. government's trade policies and tariff moves.

The Bank of England's monetary policy announcement is due later in the day.

The benchmark DAX rose to 21,756.67, gaining 204.52 points or 0.94%.

Siemens Healthineers is rising more than 6.5% on strong earnings and encouraging guidance. For the first quarter, net income grew 11% to 478 million euros from last year's 432 million euros. Basic earnings per share were 0.42 euro, up 10% from last year's 0.39 euro. Adjusted basic earnings per share were 0.51 euro, compared to 0.49 euro a year ago.

Adjusted EBIT, a key earnings metric, grew 11% to 822 million euros from prior year's 742 million euros. Adjusted EBIT margin was 15%, up from 14.3% a year earlier.

Infineon is gaining 3.75%, Siemens Energy is up 2.3% and BASF is advancing 2.1%. Munich RE, HeidelbergCement, Siemens, Adidas, Zalando, Allianz and Commerzbank are up 0.6 to 1.2%.

Qiagen is declining 3.7%. RWE, Mercedes-Benz, MTU Aero Engines, Rheinmetall and Henkel are down 0.6 to 1%.

Data from Destatis showed Germany's factory orders rebounded at a much stronger than expected pace in December largely driven by the manufacture of transport equipment.

New orders increased 6.9% month-on-month in December, reversing a revised 5.2% fall in November. Orders were forecast to grow only 1.9%. Excluding large-scale orders, new orders were 2.2% higher than in the previous month.

Data showed that overall growth was driven by the 55.5% surge in the manufacture of other transport equipment. Orders in the automotive industry dropped 3.2%. New orders for capital goods and consumer goods advanced 10.9% and 7.7%, respectively. New orders in the intermediate goods grew only 0.2%.

Domestic orders registered a double-digit growth of 14.6% and foreign orders rose 1.4%.

In the whole year of 2024, new orders dropped 3% from 2023. Destatis said the downward trend seen since 2021 continued in the first half of 2024, while a stabilizing trend was observed in the second half.

A report from S&P Global said the Construction PMI in Germany increased to 42.50 points in January from 37.80 points in December of 2024.

Swiss Shares Extend Losing Streak

The Swiss stock market closed under pressure again on Tuesday, stretching its losing streak to three sessions while giving up more than 130 points or 1.1 percent in that span.

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The major European markets finished firmly under water on Tuesday after Eurostat data showed Eurozone inflation rose to 2.1 percent last month, climbing above the European Central Bank's 2 percent target for the first time since April driven by higher prices for food, alcohol and tobacco.

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U.S. Construction Spending Unexpectedly Edges Lower In July

A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.

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