The German DAX index experienced a slight downturn, shedding 0.3 percent to settle at 22,351 points, as weak US economic data cast a shadow over global markets. The MDax, representing medium-sized companies, remained unchanged at 28,431 points. Despite the dip, the DAX has managed to recover from the early-month slump caused by US tariff policies, marking a small gain by the end of April and accumulating a cushion of just over 12 percent since the beginning of the year.
Quarterly reports, predominantly from second and third-tier companies, were the main drivers of the German stock market mid-week. Notably, DHL and Mercedes-Benz were in the spotlight within the DAX, with Volkswagen also providing details on its preliminary figures. DHL's shares rose by 1.7 percent following a better-than-expected quarterly operational result and confirmed annual targets, while Mercedes-Benz shares fell by 2.0 percent after the automaker suspended its annual targets due to uncertainties over US tariffs.
Zalando found itself at the lower end of the DAX, with shares dropping by 4.9 percent, weighed down by a study from US bank Morgan Stanley. Analyst Luke Holbrook downgraded Zalando's stock to 'Underweight,' citing increased risks despite the stock's overall rise since the US tariff announcements. In contrast, Aixtron, a chip industry equipment supplier, led the MDax with a 6.0 percent increase, buoyed by strong order intake.
The broader market sentiment reflects concerns over the US economic slowdown, highlighted by disappointing job data from private service provider ADP and a sharper-than-expected decline in first-quarter GDP growth. Analysts suggest that the turbulence from US President Donald Trump's tariff announcements has introduced significant uncertainty, with a prevailing view that the economic trajectory is more likely to trend downward than upward. As European markets prepare for a holiday on May 1, with most exchanges closed, investors remain cautious, wary of being caught off-guard by further developments in the US.
In a significant move that underscores the growing scrutiny of corporate environmental claims, the Deutsche Umwelthilfe (DUH) has filed a lawsuit against Apple in Germany. The environmental group alleges that Apple's advertising of its smartwatch as 'CO2 neutral' constitutes misleading...
In a landmark ruling, the Hanover Regional Court has sentenced a 53-year-old man to life imprisonment for the murder of a homeless individual in the city's Eilenriede forest. The verdict, delivered nearly four years after the incident, aligns with the prosecution's request, marking a rare...
The United Nations has sharply criticized the US-Israeli method of distributing humanitarian aid in Gaza, describing it as 'heartbreaking' and 'sadistic.' Stephane Dujarric, chief spokesman for UN Secretary-General Antonio Guterres, expressed deep concern over the chaotic scenes of desperate...
The Trump administration has escalated its trade restrictions against China by targeting the semiconductor industry, specifically the sale of chip design software. This move, as reported by Bloomberg and other sources, involves the Commerce Department's Bureau of Industry and Security...
The German labor market has experienced an unusually weak spring recovery this year, with unemployment figures showing a minimal decrease. In May, the number of unemployed individuals dropped by just 12,000 to 2.919 million, a figure that remains 197,000 higher than the previous year,...
