DAX Down Slightly In Cautious Trade; BMW Rises On Guidance

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(RTTNews) - German stocks are turning in a mixed performance in cautious trade Wednesday morning as investors react to the latest batch of economic data and earnings updates, and await the U.S. Federal Reserve's monetary policy announcement later in the day.

On the political front, Friedrich Merz of the Christian Democratic Union has become the new Chancellor after the second round of Bundestag voting.

The benchmark DAX, which climbed to 23,299.61 earlier in the session, was down 10.44 points or 0.04% at 23,227.87 a little while ago.

Siemens Healthineers is down by about 1.4% despite the company reporting that its net income for the second quarter of fiscal year 2025 ended March 31, 2025 increased to 530 million euros or 0.47 euros per share from 426 million euros or 0.38 euros per share in the prior year.

BMW is up nearly 3% after the company confirmed its fiscal 2025 outlook, citing the sustained demand for its premium vehicles. In the first quarter, Group net profit totalled 2.17 billion euros, down 26.4% from last year's 2.95 billion euros.

Shares of real estate major Vonovia are modestly lower. The company reported that its profit, including valuation, for the first quarter of 2025 climbed to 515.4 million euros from 335.5 million euros in the previous year.

Fresenius is up nearly 1%. The healthcare company reported higher adjusted profit in its first quarter, and confirmed its fiscal 2025 outlook.

On the economic front, Germany's factory orders grew more than expected in March on robust foreign and domestic demand, data from Destatis showed.

Factory orders advanced 3.6% month-on-month in March after remaining flat in February. Orders are forecast to grow 1.4%. On a yearly basis, factory orders logged an expansion of 3.8%, in contrast to the 0.2% fall in February.

Germany's construction sector downturn eased in April as total industry activity and new orders declined at slower rates, purchasing managers' survey data published by S&P Global showed. The HCOB construction Purchasing Managers' Index advanced to 45.1 in April from 40.3 in the previous month. This was the highest reading in more than two years.

Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

After a positive start and a subsequent rise to higher levels Friday morning, the Switzerland market remained firm despite paring some gains, and ended the day's session on a bright note. Data showing a sharp jump in Swiss industrial production in the first-quarter aided sentiment.

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European Stocks Close Week On Positive Note

European stocks closed higher on Friday thanks to easing trade tensions following the announcement of the U.S.-China deal earlier in the week, and reports that the EU bloc's talks with the U.S. for a reduction in tariffs are making positive progress.

RTTNews | 1h 42minuter sedan

Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian stocks are turning in a mixed performance a little past noon on Friday after recovering from an early setback. Investors appear to be making cautious moves after eight straight days of gains that saw the market climb to a new record high on Thursday.

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U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.

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U.S. Import, Export Prices Unexpectedly Inch Higher In April

The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.

RTTNews | 4h 39minuter sedan

U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply

While the Commerce Department released a report on Friday showing a rebound by new residential construction in the U.S. in the month of April, the report also showed a substantial pullback by building permits during the month.

RTTNews | 4h 43minuter sedan

Eurozone Trade Surplus Surges On Exports To US

The euro area trade surplus grew strongly in March as exports to the U.S increased sharply ahead of the expected increase in trade tariffs. The trade balance showed a surplus of EUR 36.8 billion compared to a EUR 22.8 billion surplus in the same period last year, Eurostat reported Friday.

RTTNews | 5h 29minuter sedan

Richemont Shares Gain On Higher FY25 Results, Dividend Hike

Shares of Richemont SA were gaining around 6 percent in the Swiss trading after the Cartier owner reported higher net profit and sales in its fiscal 2025 on strong Jewellery performance. Meanwhile, earnings from continuing operations was lower than last year amid weak China results. Further, the luxury goods firm declared higher dividend.

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EURUSD	1.11549	GBPUSD	1.32809	AUDUSD	0.64069
USDJPY	145.873	USDCAD	1.39826	USDCHF	0.83882

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DAX Down Slightly In Cautious Trade; BMW Rises On Guidance