Numerous stocks experiencing substantial price decreases
Market action kicks off with a slight dip for the Dax, trading around 20,300 points after a 31-point surge yesterday. The MDax loses about 100 points, and the SDax drops 5. Only the Euro Stoxx 50 manages a minor 2-point gain.
Shares plummeted for several companies this morning, starting with unexpectedly disappointing figures from the 2023/24 fiscal year. Carl Zeiss Meditec, an MDax company, grapples with weaker demand for consumables in China and a decline in equipment sales. Their revenue dropped by 1.1% to approximately 2.07 billion euros in the year ending September, compared to the previous year, according to their Jena announcement. Operating profit plummeted from 348.1 million to 194.5 million. The dividend is expected to be almost halved to 0.60 euros. Tui, another MDax company, also underperformed, failing to meet expectations despite a dramatic 33% increase in adjusted profit. Its shares dropped 6.43%.
Bilfinger's shares surged 4.82% last night as the company announced a share repurchase plan worth up to 50 million euros for up to 1.1 million shares. Alzchem's shares fell 5.72% in the SDax after a private placement of 250,000 shares. Zalando, a Dax company, witnessed a 7.35% share drop after making an offer to acquire fashion retailer About You.
U.S. stock markets continue to slide from their weekly highs, hesitant ahead of Wednesday's U.S. inflation data. The Dow Jones lost 0.35% to finish at 44,248 points, the Nasdaq 100 dropped 0.34% to 21,368 points, and the S&P 500 fell 0.30% to 6,035 points.
Oil prices ascended yesterday, edging closer to the upper levels of their recent range. A barrel of Brent crude for February delivery closed at $72.59, up $0.40 from the previous day, while a barrel of U.S. crude for January delivery rose 41 cents to $69.
Persistent tensions in the Middle East and lingering worries about an extended economic recovery in China, the world's largest oil consumer, offset each other. However, hopes remain that government stimulus measures will slowly spark improvements. The euro tumbled to a seven-day low of $1.049, and gold climbed $7.04 from the previous day.
In the given text, several German companies experienced significant shifts in their stock prices: Carl Zeiss Meditec, a MDax company, faces challenging times due to weaker demand for consumables in China and a decline in equipment sales, causing a dip in revenue and operating profit; Tui, another MDax company, also underperformed, falling short of expectations despite an increase in adjusted profit. On a positive note, Bilfinger's shares surged after announcing a share repurchase plan. In the SDax, Alzchem's shares fell following a private placement of shares, while Zalando, a Dax company, saw a drop in shares after announcing an offer to acquire fashion retailer About You.
