Dax holds the day before – Investors look at Minister of Finance meeting


DusseldorfThe German benchmark index is hardly changed on Wednesday. He was last 0.02 percent plus at 12,433 meters. The MDax was slightly higher at 26,077 points, the Eurostoxx 50 rose slightly to 3522 points. The Dax had closed the previous day at 12,430 points and thus above the 12,400-point mark.

In the US, investors held back Tuesday on average bank numbers. The Dow Jones Index of Standards closed 0.1 percent lower at 27,335 points. The broader S & P 500 dropped 0.3 percent to 3004 points. The index of the technology exchange Nasdaq decreased by 0.4 percent to 8222 points.

The US bank JPMorgan was able to offset the weakness in investment banking through growth in retail banking. The shares gained a good one percent. The US investment bank Goldman Sachswhich, unlike the competition, can not rely on a strong private customer business, earned less, but the decline was not as strong as experts feared. The papers gained just under two percent.

How the numbers of banks are taken up among investors, is also related to a standing in the room rate cut by US Federal Reserve Chairman Jerome Powell. It is expected that the Fed will reduce its interest rates later this month. If the results are too good overall, according to experts, this could stifle the interest rate reduction intentions of the US Federal Reserve.

This Wednesday, Fed will first comment on the American economy – it publishes the Beige Book. This is an economic report compiled from various regions of the US.

Meanwhile, the US president has threatened China with even more punitive tariffs in the trade dispute – spoiling investors in Asia on Wednesday. The Japanese leading index Nikkei was 0.3 percent down at 21,463.91 points, the Hang Seng fell by 0.09 percent to 28,593 points.

Hearing of Facebook pushes digital currencies

This Wednesday's agenda is the two-day meeting of G7 finance ministers in France. These include the French digital tax and the Facebook plans for their own cryptocurrency Libra. After David Marcus, CEO of Facebook's digital currency subsidiary Calibra, was hit by US Senators on Tuesday, Bitcoin is also under pressure. He lost around $ 1,500 in 24 hours and last listed at $ 9,502.

It is unclear whether the successor to Christine Lagarde as the head of the IMF will also be discussed at the meeting of the G7 Finance Minister. Potential candidates include Bundesbank chief Jens Weidmann and his colleagues from Great Britain and Finland, Mark Carney and Olli Rehn.

The former Dutch Finance Minister Jeroen Dijsselbloem and the Danish EU Competition Commissioner Margrethe Vestager have also been speculating. Lagarde was nominated for the ECB top post and therefore submitted her resignation to the IMF.

Business figures from the USA

This Wednesday, the heavyweights of the US tech industry lay IBM. ebay and Netflix their quarterly figures. At the IT corporation IBM analysts expect a decline in sales. Rising demand in the cloud sector can only partially offset the declining revenues in the traditional core business with mainframes.

On the other hand, online retailer Ebay is likely to see website improvements and new advances in advertising and payment services positively impacted by the market's expectations. With the Netflix streaming service, investors are curious about how subscriber numbers have developed. Analysts expect a significant decline in profits.

Along with it Ericsson. ASML and the Bank of America more companies before their business figures. At Bank of America, analysts expect sales to increase. The financial institution has already started the year with record profits. Net income increased six percent to $ 6.87 billion in the first quarter, with the bank benefiting primarily from retail banking and interest rate hikes.

All in all, stockbrokers from the current reporting season are hoping that the trade dispute between the US and China will already weigh on companies' businesses.

Meanwhile, the UK is struggling with homemade problems: investors fear that Brexit hardliner Boris Johnson will become the new prime minister. The pound sterling lost 0.2 percent on Wednesday and at $ 1.2380 was as cheap as it was about two and a half years ago.

Single values ​​in focus

Deutsche Bank: The German financial institution wants to get back on track with a large-scale restructuring program. After a plus of 4.3 percent on Tuesday, the stock lost on Wednesday morning but again around one percent.

Metro: metro is considering, according to informed circles, the payment of a special dividend from the sale of two divisions, to ward off a takeover bid in the amount of 5.8 billion euros. The news agency Bloomberg reports.

Should the asset purchases be successful, the German food wholesaler would bring the prospect of a one-off payment into play to attract shareholders to his side, according to the informed persons. They asked for anonymity because the information is confidential. They warned that no final decision had yet been made and plans could change. Metro will submit its quarterly results next week. The Metro share fell slightly by 0.16 percent at the start of trading.

Ericsson: The Swedish network equipment company Ericsson has not been able to turn the strong momentum in 5G network technology as much as expected into rising profits. The operating result before special charges for the corporate restructuring climbed in the second quarter compared to last year by almost 90 percent to 3.9 billion Swedish kroner (370 million euros), as the company announced on Wednesday in Stockholm.

But that was far less than analysts had expected on average at 4.4 billion kroner. The Ericsson share lost more than five percent on Wednesday morning to 85.5 Swedish kroner.

Dialog Semiconductor: The German-British chip developer Dialog Semiconductor almost doubled its operating profit in the second quarter and exceeded its own sales forecast. Adjusted operating income increased to around $ 82 million ($ 42 million) the previous year AppleSuppliers announced on Wednesday in London. The reason is an adjusted sales, which was $ 336 million over the expected $ 293-333 million. That's 13 percent more than a year ago. The Dialog share increased by more than three percent to 38.30 euros.

analysts check

Research analyst Mitch Steves from analyst RBC wrote in a study on Wednesday that Dialog Semiconductor's quarterly figures exceeded average expectations. Nevertheless, RBC left the classification on "Sector Perform" with a target price of 36 euros.

Since Dialog still supplies the iPhone maker Apple, the figures are the first positive signal for the smartphone industry for some time now. After the recent positive data from the PC market, he now estimates the demand for memory chips a bit more optimistic.

With agency material.

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