DAX out of control - When will the profit-taking come
The German leading index DAX is currently out of control. Investors are rubbing their eyes in amazement, because for one trading week, the German stock index has only known the direction to the north. Yesterday, Thursday, the DAX closed at an incredible 20,358.60 points, securing its sixth consecutive day of gains. Certainly, the DAX does not reflect the economic situation in Germany, the DAX companies are too internationally positioned for that and after all, every second share of the DAX company is in the hands of international investors. Nevertheless, it must be said that European equities are quite cheap compared to US equities. This could also be a reason why the DAX is rising so strongly. The fact that companies are performing successfully in the current economic situation in Europe and especially in Germany clearly shows the quality of the companies. Made in Germany is still internationally recognized and politicians should take this as an example and not carelessly jeopardize this branding, just as the cart is literally driven into the wall in the current legislative period.
Siemens Energy continues to rise to the next record high
The shareholders of Siemens Energy shares were in a jubilant mood yesterday, Thursday. The high-flyer share of 2024 rose by another 3 percent and increased its year-to-date result to an almost unbelievable 346 percent. Continental shares followed in second place with a price increase of 2.9 percent and Commerzbank shares, driven by takeover rumors, in 3rd place. Commerzbank rose by 2.7 percent.
US labour market data influences Europe's stock markets
In general, European stock markets rose and it will be interesting to see how they react on Friday when the US jobs numbers are reported. If the labor market data is reported as expected, there is no reason for the current rally to suffer a breakdown, on the contrary, further price increases can be expected. This is particularly interesting for the EuroStoxx 50 that it still has a lot of catching up to do.
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