Market report: DAX is heading up again

The DAX is resuming its record hunt: In early business, the leading German index gained up to 1.2 percent. In the morning the increase decreased to 0.7 percent. With the current level of 26,530 points, the record high from the previous week is within reach again. Last Thursday the DAX reached 26,692 points.

Yesterday, the leading German index closed 0.3 percent higher at 26,347 points.

Stock prices also rose again in Asia. Thanks to a good mood in Japanese industry, the Nikkei index rose 1.3 percent. The South Korean Kospi gained 2.6 percent.

The monthly Reuters Tankan index, which measures sentiment among Japanese industrial companies, rose to 27 points, its highest level in more than five years, thanks to the chip boom.

The focus now turns to AI pioneer Nvidia's quarterly figures next week, said Wataru Akiyama, equity strategist at Nomura Securities. "If they are strong enough to allay concerns about the earnings of these AI and semiconductor-related stocks, that effect will likely extend to Japan's major AI companies as well."

In New York, technology stocks were still under pressure. The Nasdaq technology index fell 0.7 percent, while the Dow Jones benchmarks lost 0.3 percent. In addition to the stubborn inflation, investors there mainly had to deal with the new developments in the Nvidia case.

According to media reports, the suspected Chinese spy in the company of CEO Jensen Huang smuggled AI chips from Nvidia worth $7.5 billion into the People's Republic.

Nvidia is also said to have used relationships with the US government to have an investigation into chip smuggling stopped. This raises doubts as to whether Huang can hold on to the top job. With him, Nvidia would lose its central identification figure. On the Nasdaq, Nvidia shares lost another 5.5 percent yesterday.

E.ON shares cannot benefit from the current nine-month figures. In the first nine months, the energy company slightly increased its adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) to 7.11 billion euros. Adjusted consolidated profit rose by four percent to 2.2 billion euros. E.ON confirmed its annual forecast.

RWE also confirmed its forecast for significant profit growth. The largest German electricity producer announced that adjusted Ebitda rose by 35 percent to 4.6 billion euros from January to the end of September, particularly due to increases in energy trading. The adjusted net result increased to 1.8 billion euros after 1.3 billion in the same period last year.

The strongest stock in the DAX in early business is Siemens Energy. The energy technology group reported record figures for its financial year that ended in September. Sales excluding currency and portfolio effects rose by 15.5 percent to 44.2 billion euros. The bottom line is that Siemens Energy earned 4.1 billion euros, after just under 1.7 billion euros in the previous year.

In addition to significant increases in profits in both the gas and grid divisions, this is also due to noticeable improvements in the Siemens Gamesa wind business. This returned to profitability. The DAX group has received a huge boost in recent years from increasing demand for turbines and the network equipment to power AI data centers.