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The major US banks traditionally initiate the accounting season. JP Morgan reported a decline in investment banking fees in the third quarter.
Dusseldorf. The Dax defends its gains from the past trading days and remains above the 25,000 point mark at the opening. At midday the leading index was barely changed at 25,336 points. At the close of trading on Monday it was just under 25,300 points.
With the start of the accounting season, the stock market will face an important stress test in the next few weeks. The big banks in the USA traditionally kick things off: JP Morgan reports on the third quarter on Tuesday before the start of trading on Wall Street. The slowing momentum in investment banking is worrying JP Morgan investors. The shares of the major US bank fell by up to three percent in premarket US trading after JP Morgan reported an eight percent decline in investment banking fees compared to the second quarter.

Major U.S. banks such as Goldman Sachs, JP Morgan Chase and Wells Fargo increased profits over the summer despite volatile markets, falling takeover activity and geopolitical tensions, driven by stock trading, lending and higher interest income.

Private freight railways criticize DB InfraGO's planned route price increases of up to 85 percent for heavy trains from 2028. The association warns of the loss of industry and jobs and calls for an urgent reform of the pricing system.

BASF is preparing a new takeover attempt for its competitor Evonik. Despite an initial rejected offer of 22.15 euros per share, BASF is seeking talks to make employment commitments and exploit synergies, while Evonik is demanding higher prices.

Gordon Brothers has become the central lender for Galeria. The US company finances the department store chain via an asset-based credit line secured by inventory, thus securing ongoing operations until mid-October.

The major US banks JP Morgan, Goldman Sachs and Wells Fargo have published their quarterly figures. While JP Morgan and Goldman Sachs' trading revenues partially fell short of expectations, the sector as a whole is characterized by a technical correction.

Entrepreneur Reinhold Würth has opened his expanded art gallery in Schwäbisch Hall. Federal President Steinmeier used the ceremony to appeal to protect liberal democracy and free art from nationalist tendencies.