2024-01-16 06:00:00
It looks long for him DAX After a successful start to the week, it ended 0.5 percent lower at 16,622 points. The mood remains positive because of the interest rate cut expectations, said Jochen Stanzl from CMC Markets. “Nevertheless, there is no clear trend, which is why we can generally expect a continuation of the swings in the first two trading weeks of the year,” he said. The environment remained stable, with neither bond yields nor the currency side showing any major fluctuations. However, sales suffered due to the Martin Luther King holiday in the USA.
After the official opening on Monday evening, the World Economic Forum in Davos is gathering momentum. One of the highlights will be the speech by China’s Prime Minister Li Qiang – the highest-ranking representative of the People’s Republic in Davos since President Xi Jinping’s visit in 2017. EU Commission President Ursula von der Leyen will also speak. An appearance by Ukrainian President Volodymyr Zelensky is also planned. Federal Foreign Minister Annalena Baerbock will discuss security architecture on a panel with NATO Secretary General Jens Stoltenberg, while Vice Chancellor Robert Habeck will deal with the European economy in another panel. Many company bosses also appear – including Satya Nadella from Microsoft, Siemens CEO Roland Busch and Bayer boss Bill Anderson.
On the economic side, the Federal Statistical Office is already publishing this morning final data on consumer prices in December. According to preliminary figures, inflation rose again for the first time after five consecutive declines – by 3.7 percent. In November the rate was 3.2 percent. Now it remains to be seen whether the data will be retained or revised.
The ZEW Institute will also be hosting in the morning Barometer for economic assessment the stock exchange company for Germany. Experts expect a decline to 12.0 points for January. Before the turn of the year, the index had risen by 3.0 points to plus 12.8. It was the fifth increase in a row, taking the barometer to its highest level since March 2023. Now it remains to be seen whether the upward trend will break or not.
VW advantages 111,48
On the corporate side, billions are being invested Investor process surrounding the diesel scandal Former Volkswagen boss Herbert Diess was heard as a witness before the Braunschweig Higher Regional Court. He is the first former VW boss to appear in court in the proceedings that have been going on for five years. His predecessors Martin Winterkorn and Matthias Müller are also scheduled to appear in court in February. The plaintiffs accuse Volkswagen and Porsche Holding of keeping the information about “Dieselgate” secret for a long time, thereby causing them to lose the value of their shares. In total, their claims add up to around nine billion euros. There is currently no end to the process in sight. You can find further weekly dates here.
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