Munich Last week, the international stock exchanges largely made up for the slight correction from the days before. For a short time, the Dax even jumped the 14,000 point mark again on Thursday before profit-taking came to the end of the week.
Experts see this as a positive sign for the last week of trading in January. A multitude of company figures determine what happens in the. They come mainly from the USA, where tech giants such as Apple, Microsoft, Facebook and Tesla present their balance sheets.
Because the expectations of the stock exchange traders are low after about a year with the pandemic, there is definitely potential for positive surprises. “The ongoing skepticism of the analysts increases the chance that the results of many companies will again exceed expectations in the fourth quarter of 2020,” says Jörg Krämer, chief economist at Commerzbank.
Munich The automotive supplier Vitesco, which belongs to Continental, wants to make a new attempt in the second half of the year after the IPO, which was canceled last year. “We were doing really well, then Corona came,” said Vitesco boss Andreas Wolf of the “Frankfurter Allgemeine Zeitung” according to the preliminary report. “We are now aiming for a spin-off in the second half of the year, provided that the Continental Annual General Meeting approves it at the end of April.”
The automotive supplier Continental decided in autumn 2019 to give away the shares in Vitesco to the shareholders and thus forego all income from the IPO. In the event of a complete spin-off, Vitesco’s shareholder structure would initially correspond to that of Continental, said Wolf. The anchor shareholder will therefore be the Schaeffler Holding.
Vitesco currently generates more than 90 percent of its total sales of 7.8 billion euros with internal combustion engines. Wolf announced, however, that it would expand the electric mobility business. Profits can also be expected here in around five years: “We want to break even in the medium term,” said Wolf. In contrast, there will be cuts in the old business with injection nozzles or high-pressure pumps for gasoline and diesel vehicles.
More: Survival strategies for auto parts suppliers
Frankfurt, New York On the first full day of office of the new US President Joe Biden, Wall Street loses momentum. The US standard value index Dow Jones closed hardly changed on Thursday at 31,176 points. The technology-heavy Nasdaq advanced 0.6 percent to 13,530 points. The broad S&P 500 stagnated at 3853 points.
The valuations are now quite high, warned Chris Osmond, chief investor at the asset manager Prime Capital. Therefore, mishaps in the coronavirus mass vaccinations could quickly lead to setbacks. In addition, the new US President Joe Biden must expect resistance not only from Republicans, but also from some Democrats to his planned billion-dollar aid package to cushion the consequences of the pandemic.
The buying mood also dampens the continued tense situation on the US labor market, said Ryam Detrick, chief investment strategist at asset manager LPL Financial. “From an economic point of view, we are not yet out of the woods.” The general mood of investors remains positive, however, interjected Shamik Dhar, chief economist at asset manager BNY Mellon. “From their point of view, the benefits of the additional economic stimulus more than outweigh the negative effects of higher taxes and stricter regulation. In addition, monetary policy will probably remain loose.”
Bitcoin and Ethereum, on the other hand, fell again: After their recent record highs, the two cyber currencies fell at times by more than ten percent to $ 30,975 and $ 1,162 respectively. “The very big risk appetite is history for the time being,” said analyst Emden.
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An end to the current downturn is not in sight. Against this background, investors threw companies from the cryptocurrency sector and companies that deal with the blockchain technology underlying Bitcoin & Co from their depots. Riot and Mara’s papers collapsed by up to 13 percent.
The oil price also fell. The US variety WTI fell 0.5 percent to $ 53.02 per barrel (159 liters). According to stockbrokers, the trigger for the sales was the surprising increase in US inventories.
Mytheresa: Meanwhile, Mytheresa celebrated a brilliant debut on the stock market. The shares of the Munich-based online luxury fashion retailer rose to $ 36.03. The company had issued the papers at $ 26 each, which was at the upper end of the increased offering range.
United Airlines: United Airlines shares fell nearly six percent. The coronavirus pandemic brought the airline a surprisingly high loss of billions. Thanks to planned savings, however, the operating profit margin in 2023 will again exceed the value of 2019, predicted analyst Helane Becker from asset manager Cowen.
XBiotech: Encouraging test results for a coronavirus drug give manufacturer XBiotech one of the biggest price leaps in the company’s history. The shares of the pharmaceutical company rose in early trading by almost nine percent and listed in the further course of almost five percent in the plus. According to the company, its agent also neutralizes the mutated variants of the Covid-19 pathogen. In the course of trading, the minus is reduced to four percent.
Eli Lilly: According to a study, an antibody drug from Eli Lilly has reduced the risk of Covid-19 disease in nursing home residents by 80 percent. Still, the rate falls 0.7 percent just below $ 200. The study included 965 people – 299 residents and 666 employees – who tested negative for the coronavirus. They were either treated with the antibody drug bamlanivimab or received a placebo. After eight weeks, study participants were 57 percent less likely to develop Covid-19 when treated with the agent.
Intel: The Intel shares gained 6.5 percent. In the final quarter of 2020, the chip manufacturer exceeded market expectations of $ 17.5 billion with sales of $ 20 billion. Other tech heavyweights like Apple and Advanced Micro Devices each grew by more than three percent.
Alcoa: The papers of the aluminum producer Alcoa even collapsed by more than 12 percent after quarterly figures. Bank of America analysts complained that the company expected higher costs and at the same time had to spend cash on pension obligations.
The Travelers: The shares of the insurer The Travelers included in the Dow were among the winners in the leading index with a plus of 2.6 percent. Earnings per share in the final quarter of 2020 exceeded even the highest of the numerous analyst estimates.
More: Blackrock offers investment in cryptos for the first time
US stock market expert Koch: “The reporting season on Wall Street begins extremely robustly”
Frankfurt, New York The reaction of US investors to the change in the White House could hardly have been clearer: On the day of the transfer of power from Donald Trump to Joe Biden, the prices climbed to highs. Especially on the technology-heavy Nasdaq stock exchange, investors grabbed it on Wednesday. The Dow Jones Industrial also made it to another record high shortly before the end. With an increase of 0.83 percent to 31,188.38 points, the Dow went out of trading.
The Nasdaq 100 drove share purchases 2.31 percent up to 13,296.45 points. Like the very broad-based Nasdaq Composite, it reached a record high. Strong quarterly figures from the online video provider Netflix provided an additional boost. Shares shot up nearly 17 percent and also peaked. The S&P 500, which comprises 500 companies, also hit a record high by 1.39 percent to 3851.85 meters.
Düsseldorf The party mood on the stock market is over, the rally is unlikely to be over yet. This is the result of the weekly Handelsblatt survey Dax Sentiment among 4,000 investors.
After euphoria had built up among investors in the course of the week-long Dax rally, the mood of the survey after a Dax minus of 1.9 percent in the past trading week is back in the normal range at 1.2.
At first glance this is a positive development. Euphoria is a counter-indicator because a corresponding number of investors are invested and there are only a few buyers left. Nevertheless, the development does not speak in favor of an immediate resumption of the rally: Because purchases by convinced optimists are currently not in sight, the willingness to invest has continued to decline.
From this, sentiment expert Stephan Heibel, who evaluates the Dax survey for the Handelsblatt, draws the conclusion: “It is quite possible that this correction will continue a little in the coming week. I give this scenario the greater probability. “
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The ever decreasing willingness to invest stands in contrast to the many Dax annual forecasts that assume the rally will continue: According to the Handelsblatt survey, there is currently no willingness to buy.
“So if everyone is optimistic and would like to benefit from rising prices, but no longer want to buy, who will drive prices up further?” Asks the sentiment expert rhetorically. In his opinion, a correction can only be made if there are no new buyers.
However, there are currently many new investors in the stock markets who found their way onto the floor during the lockdown: Online brokers such as Trade Republic, Comdirect and Flatex are looking forward to a never-before-seen rush of new customers.
These investors are not convinced by the stock market or the DAX, but rather pick their favorite stocks, be it from the field of fuel cells, home work or just Bitcoin exchanges, and buy from even the smallest setbacks.
“These young investors are driving the rally, and therefore it is entirely possible that the experienced investor who pays attention to market technology and has valuation levels in mind, will be surprised,” explains Heibel.
In which phase of the cycle do you think the markets are currently?
Information in percent
He sticks to the approach he has been promoting for a few weeks. Stay invested, catch up with stop-loss levels, and be careful to sell in time when the rally ends. “But with a minus of 1.9 percent, as in the previous trading week, the rally is not over yet.” The 13,500 point mark is important for Heibel. “As long as the Dax is trading above this level, I expect the rally to continue.”
When the sentiment analysis can give an accurate forecast
The past week of trading showed a peculiarity of sentiment analysis: the difference between euphoria and panic. Because unlike panic, euphoria is short-lived. As soon as there is a slight jolt on the floor, this high spirits are gone. Quite differently, panic arises, which usually lodges itself firmly in the minds of investors over many weeks, if not months, and does not disappear during this time.
This difference also explains why the five-week average of the Handelsblatt sentiment (see first graph) is a good indicator for the end of a downtrend. It takes investors a long time to recover from this horror. And during this time, prices can rise.
In the opposite case, if we measure euphoria at the highest level, for example a week ago, a blank shot is enough and the euphoria evaporates. Nevertheless, the rally can continue. Accordingly, euphoria does not necessarily mean the end of the price increases.
Current survey results
Investor sentiment slumped from 6.4 to 1.2 and is now trading at a neutral level. Complacency also fell sharply from 5.0 to 2.3. The cockiness of the previous week is also gone.
Have your expectations for the Dax been met in the past week?
Information in percent
The expectations for the Dax in three months’ time are astonishing. With a value of 0.9, this indicator remains at the level of the previous week. Expectations had already declined in the previous three weeks and thus deprived the rally of the breeding ground. In addition, the willingness to invest has fallen to 0.6, i.e. hardly any. After the US presidential elections in November, the willingness to invest picked up and has since gradually decreased.
The Euwax sentiment of the Stuttgart Stock Exchange, on which mainly private investors trade, promptly indicates increased hedging activity. But the level of coverage is still low.
The professionals who hedge themselves via the Frankfurt derivatives exchange, Eurex, behave in a similar way: The put / call ratio, which indicates the ratio of traded put to buy options, is 1.8 and thus only slightly higher than the average for the past few months ( 1.5). Put purchases therefore easily have the upper hand.
Quite different in the USA, the put / call ratio of the Chicago futures exchange CBOE is listed well below the average. And that since last autumn. The bullish positioning of the pros is dangerous, but it has been around for almost six months. And during that time the stock market has only stormed north.
What phase of the cycle do you expect in three months?
Information in percent
The US fund investors are also still brave, they have an investment quota of 107 percent, so they are betting on rising prices through leverage products. With a bull / bear ratio of 27 percent, the bulls also clearly dominate among US private investors.
It is surprising that with such an optimistic setting, the “fear and greed indicator” of the US stock markets calculated on the basis of technical market data is largely neutral at 60 percent. Other technical indicators also show neutral values.
Would you like to take part in the survey? Then you will be automatically informed about the start of the sentiment survey and sign up for the Dax Sentiment newsletter. The survey starts every Friday morning and ends Sunday noon.
More: The strategies of the stock market professionals
Munich Investors are showing great interest in Infineon this Friday. The share price of the semiconductor manufacturer had risen by around six percent to just under 34 euros by midday. The papers of the chip company listed in the Dax thus reached the highest value in almost two decades.
The price jump on the floor was triggered by surprisingly good numbers from large competitors. The revenues of the Franco-Italian rival ST Microelectronics exceeded its own forecast by almost ten percent in the most recent quarter.
“We ended the fourth quarter with sales above the forecast, as the market momentum was significantly better than expected throughout the quarter,” said CEO Jean-Marc Chery. Last but not least, the auto industry would have driven the business.
Despite the corona crisis, ST Microelectronics 2020 sales rose year-on-year, said Chery, by almost seven percent to $ 10.2 billion. This is particularly encouraging for Infineon, because the Munich-based company is the largest car chip manufacturer in the world.
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But there was more good news from the semiconductor industry this Friday. The memory chip manufacturer Micron announced that sales in the current quarter will probably amount to 5.8 billion dollars. That is $ 300 million more than the analysts at the US company had expected so far. The so-called dram chips, which are used in PCs and notebooks, are particularly in demand.
A yardstick for the industry
Taiwan Semiconductor Manufacturing Co. (TSMC) also announced the highest quarterly sales ever. The company is the largest contract manufacturer in the world. If TSMC is doing well, the whole industry is doing well. Almost all leading chip suppliers use their state-of-the-art factories. The Taiwanese share price hit an all-time high on Friday, gaining around 70 percent in value within a year. TSMC produces, among other things, the chips for Apple’s iPhones.
In addition, Samsung also reported on a brilliant business in its semiconductor division. The electronics group from South Korea is a world leader in memory chips, such as those used in computers and smartphones. Samsung shares rose more than seven percent in Seoul on Friday.
Infineon will not present its latest results until early February. However, investors expect great things from Germany’s most important semiconductor company: within a year, the price has already climbed by more than half. Analysts believe that it should not have been that yet.
The year 2020 has now been ticked off and the horizon in the Asian-European semiconductor sector will be brighter for 2021, said analyst Mark Li from Bernstein Research at the beginning of the week. The banker expects the share price to rise further to 35 euros. A normalization in the industry will probably support growth in the new year. Infineon remains his favorite among semiconductor stocks because of its business with the auto industry.
More: How Infineon’s chief financial officer convinced investors in a short time
Hong Kong, April 6 / PRNewswire / – Under the theme #ExperienceMore, TCL is presenting the KI x IoT Lifestyle with its latest developments in the display sector and impressive multi-category offers
TCL Electronics (1070.HK), a dominant player in the global television industry and a leader in consumer electronics, starts the year at CES 2021 more determined than ever with exciting announcements to fulfill its mission to bring life to life through innovative mini Making next-generation LED technology smarter.
“TCL is proud to attend CES 2021 and to be part of this dynamic industry. We are one of the leading consumer electronics brands in the world and the second largest TV brand in America and our mission is to use our AIxIoT strategy to innovate life Making technology smarter. We are committed to continuing to provide the best intelligent products and services to our users around the world, “said Kevin Wang, CEO of TCL Industrial Holdings and TCL Electronics.
This year’s event will be the very first “virtual CES” demonstrating the resilience and global unity that carries us all into the future, despite the challenges 2020 has brought to the world.
TCL will be attending several sessions at CES 2021, including a global press conference (the Global Press Announcement), showcasing its very latest display technologies, and showcasing a range of smart home devices that bring new experiences to users.
Known for mini LED and QLED televisions, award-winning sound bars, smart home devices, and popular mobile devices powered by the current AIxIoT strategy, TCL continues to push the boundaries of what is possible for display and audio technology.
On January 11th, TCL will showcase its highly anticipated innovations in mini-LED and future display technologies at the CES 2021 Global Press Announcement. This should attract the attention and interest of the media and consumer electronics industries.
Below are the details of the events TCL will be attending at CES 2021:
** All sessions will be posted online at https://www.tcl.com/ces2021.html
# The times and dates shown refer to Eastern Time (UTC-5) on the American east coast
Global Press Announcement
Time: 11: 00-11: 30 a.m.
Date: January 11, 2021
Product spotlight for North America
Time: 1: 00-1: 30 p.m.
Date: January 12, 2021
Product spotlight worldwide
Time: 7:30 a.m. – 8:00 a.m.
Date: January 13, 2021
Information on TCL Electronics
TCL Electronics (1070.HK) is a rapidly growing consumer electronics company and a leader in the global television industry. It was founded in 1981 and is now active in over 160 markets worldwide. According to OMDIA, TCL ranked second in the global television market in terms of sales volume in the second quarter of 2020. TCL specializes in the research, development and manufacture of consumer electronics products ranging from televisions, audio and smart home products.
The financial giant had announced that it would invest in a more climate-friendly way in 2020. Critics speak of greenwashing because of the large loopholes.
In 2020, Blackrock invested heavily in fossil-fuel companies despite its sustainability promise Photo: Benoit Tessier / Reuters
BERLINtaz | Despite its promise of sustainability, the world’s largest asset manager Blackrock invested heavily in fossil fuel companies in 2020. This is shown by an analysis by the non-governmental organizations Reclaim Finance and Urgewald, which specialize in sustainable finance. The results appear on Wednesday and were the taz in advance.
The group admitted last January that climate change was an investment risk. “Based on our results, we will reduce our positions in high-risk industries,” the Blackrock management promised their customers in a letter. One such risk industry is coal.
Reclaim Finance and Urgewald inspected the portfolio until October 2020. Accordingly, Blackrock still holds shares in 199 coal companies worth at least 85 billion US dollars.
This contradicts the promises made last year in spirit, but not formally. This is because Blackrock built loopholes himself. The details of the announcement state that the active investment processes will no longer invest in companies that generate more than a quarter of their sales from coal production until mid-2020.
Blackrock continues to actively invest in coal power
So only coal mining is included, but not climate-damaging combustion. It does not violate its own rules that, according to the new analysis, Blackrock holds shares worth 2.5 billion US dollars in the energy company RWE, the largest CO2Issuers in Europe. From the start there was no talk of the oil and gas business.
Besides, it’s just about the stocks that Blackrock actively manages. However, around two thirds belong to index funds that are generated automatically depending on the stock market situation.
Katrin Ganswindt from Urgewald therefore wants Blackrock to revise its sustainability guidelines accordingly, to close the loopholes – and first and foremost to part with all companies that are even planning new coal infrastructure. So far, thinks her colleague Lara Cuvelier from Reclaim Finance, one sees little more than “pure greenwashing”.
BONN (dpa-AFX) – Ex-BMW boss and Telekom supervisory board member According to media reports, Harald Krüger does not want to become head of the committee after all. For personal reasons, Krüger rejected the post of chief supervisor at Deutsche Telekom, reported the “Handelsblatt” and the “Manager Magazin” on Friday, citing people familiar with the processes. This leaves the question of who should succeed the outgoing supervisory board chairman Ulrich Lehner.
According to the “Handelsblatt”, the group is looking for suitable candidates for the post externally. A Telekom spokesman told the business newspaper that the incumbent Lehner’s contract would run until next year’s general meeting. The search for a successor is – as always with Deutsche Telekom – the subject of an orderly process. No one commented on speculation about personnel, it was said./ngu/jha/
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