DJ MARKETS EUROPA/Equities, bonds and euro lighter in unison
FRANKFURT (Dow Jones) — The European stock markets went down slightly on Thursday. True to the current motto on the stock market, “good news is bad news”, positive reports from the US labor market weighed on investor sentiment. The US labor market is booming, and the ADP data and the weekly initial jobless claims cannot be classified any differently. The number of initial claims for US unemployment insurance benefits fell more than expected, while employment in the US private sector rose more than expected in December.
After the hawkish Fed minutes of the previous evening, market expectations of the upcoming interest rate hikes by the US Federal Reserve increased. Statements by Esther George, President of the Kansas City Fed, who set her forecast for the Fed Funds Rate at over 5 percent in December and that the key interest rate will remain at this level for a while, also caused no relaxation.
The DAX lost 0.4 percent to 14,436 points, and the Euro-Stoxx-50 also fell by 0.4 percent to 3,959 points. The euro fell to $1.0521. The yield on 10-year Bunds rose 4 basis points to 2.32 percent.
DAX-Unternehmen schütten 2023 Rekord-Dividenden aus
The DAX companies will set another dividend record in 2023 and will pay out a total of 55 billion euros to their shareholders. According to a study by Dekabank, the companies listed in the MDAX can also increase their payout compared to 2022, by 12.3 percent to 7.5 billion euros. “The DAX companies will pay out around 3.6 billion euros more dividends to their shareholders than in 2022,” says Joachim Schallmayer, Head of Capital Markets and Strategy at DekaBank.
It is positive that profits have risen faster than distributions since 2019. “Despite the pandemic, which has led to considerable distortions in the production chains of the global economy, companies have come through the crises surprisingly well and have increased their earnings. The DAX companies made more money in 2022 than ever before.”
Linde-Underperformance bis zum DAX-Ausstieg erwartet
Traders attributed the 3.8 percent drop in price at Linde to the upcoming retreat from the DAX. The index heavyweight is turning its back on the German stock market because the company sees better prospects for its stock on the US market. Until this date, which is likely to be in March, a sustained underperformance of the share is to be expected. According to statements from the trade, the index experts at Societe Generale expect to say goodbye as early as March 1, Rheinmetall (+1.6%) is to be the name of the climber. With the loss of one of its heavyweights, the DAX is likely to continue to lose importance as an index: “It already accounts for less than 3 percent in many international portfolios,” said one trader.
Ryanair went up 7.3 percent. “An increased profit forecast was expected, as with other airlines, but not by 25 percent,” said a dealer. The low-cost airline had previously promised 1.0 to 1.2 billion euros for the financial year. But now he sees 1.325 to 1.425 billion euros, around a quarter more.
Morphosys fell 5.7 percent according to the company’s new financial forecast for 2023. Above all, the sales outlook for Monjuvi in the USA is not inspiring. “In the middle of the expectation range, it is even below the 2022 sales,” says a dealer.
=== Index Schluss- Entwicklung Entwicklung Entwicklung . stand absolut in % seit . Jahresbeginn* Euro-Stoxx-50 3.959,48 -14,49 -0,4% +4,4% Stoxx-50 3.766,20 -13,87 -0,4% +3,1% Stoxx-600 439,33 -0,86 -0,2% +3,4% XETRA-DAX 14.436,31 -54,47 -0,4% +3,7% FTSE-100 London 7.642,69 +57,50 +0,8% +1,8% CAC-40 Paris 6.761,50 -14,93 -0,2% +4,4% AEX Amsterdam 714,32 -3,19 -0,4% +3,7% ATHEX-20 Athen 2.310,34 +19,65 +0,9% +2,6% BEL-20 Bruessel 3.809,57 -10,82 -0,3% +2,9% BUX Budapest 45.228,81 +291,80 +0,6% +3,3% OMXH-25 Helsinki 4.968,26 +28,58 +0,6% +2,4% ISE NAT. 30 Istanbul 5.559,66 -429,16 -7,2% -6,5% OMXC-20 Kopenhagen 1.860,81 -9,56 -0,5% +1,4% PSI 20 Lissabon 5.866,87 +14,20 +0,2% +2,7% IBEX-35 Madrid 8.607,60 +47,80 +0,6% +4,6% FTSE-MIB Mailand 24.832,70 -27,86 -0,1% +3,1% RTS Moskau 940,85 -9,06 -1,0% -3,1% OBX Oslo 1.077,22 +11,39 +1,1% -1,2% PX Prag 1.242,31 +12,25 +1,0% +3,4% OMXS-30 Stockholm 2.137,44 +17,09 +0,8% +4,6% WIG-20 Warschau 1.856,05 +1,00 +0,1% +3,6% ATX Wien 3.242,40 +29,95 +0,9% +2,8% SMI Zuerich 11.057,39 -82,88 -0,7% +3,1% * zu Vortagsschluss DEVISEN zuletzt +/- % Do, 7:50 Uhr Mi, 17:28 Uhr % YTD EUR/USD 1,0521 -0,8% 1,0608 1,0607 -1,7% EUR/JPY 140,52 +0,0% 140,62 140,12 +0,1% EUR/CHF 0,9854 -0,1% 0,9870 1,0769 -0,4% EUR/GBP 0,8841 +0,5% 0,8818 0,8815 -0,1% USD/JPY 133,56 +0,9% 132,52 132,12 +1,9% GBP/USD 1,1899 -1,3% 1,2031 1,2032 -1,6% USD/CNH (Offshore) 6,8899 -0,1% 6,8796 6,9014 -0,6% Bitcoin BTC/USD 16.828,38 +0,0% 16.811,12 16.868,25 +1,4% ROHÖL zuletzt VT-Settlem. +/- % +/- USD % YTD WTI/Nymex 74,19 72,84 +1,9% +1,35 -7,6% Brent/ICE 79,16 77,84 +1,7% +1,32 -7,9% GAS VT-Settlem. +/- EUR Dutch TTF 69,90 65,02 +7,5% +4,87 -12,0% METALLE zuletzt Vortag +/- % +/- USD % YTD Gold (Spot) 1.830,16 1.855,65 -1,4% -25,49 +0,4% Silber (Spot) 23,15 23,83 -2,8% -0,68 -3,4% Platin (Spot) 1.059,15 1.081,50 -2,1% -22,35 -0,8% Kupfer-Future 3,80 3,74 +1,6% +0,06 -0,3% YTD bezogen auf Schlussstand des Vortags ===
Contact the author: thomas.leppert@wsj.com
DJG/thl/ros
(END) Dow Jones Newswires
January 05, 2023 12:07 PM ET (17:07 GMT)
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