DAX Up Slightly In Cautious Trade Ahead Of U.S. Jobs Data
(RTTNews) - German stocks are quite subdued Friday morning on disappointing revenue outlook from Amazon Inc., and caution ahead of the crucial U.S. non-farm payroll data due later in the day.
Investors continue to assess corporate earnings and the most recent economic data while awaiting clarity on the Trump administration's trade policies.
The benchmark DAX 30 was up 7.10 points or 0.03% at 21,920.11 a little while ago.
The yield on Germany's 10-year Bund has dropped to 2.366%.
The U.S. jobs report is likely to show an increase of 170,000 jobs in January, following a 256,000 jobs increase in December. The unemployment rate is expected to come in unchanged at 4.1%.
Data from Destatis showed German industrial production dropped 2.4% in December, the biggest decline in five months, due largely to a drop in output from the car industry. Economists had expcted the output to drop by 0.6%.
Porsche is down more than 5% after the carmaker warned that the cost of new models and battery-related expenses would dent its 2025 profits.
Porsche said that it expected a profit margin of just 10-12% this year, below analysts' expectations of 14.8% and well under the mid-term target of 17-19%.
Rheinmetall is declining 2.5%, while Bayer, Adidas and Siemens Healthineers are lower by 0.8 to 1.4%. Qiagen, BASF, Deutsche Post and Zalando are down with modest losses.
Henkel is gaining about 0.7% after the company said it would sell its retailer brands business in North America to an affiliate of First Quality Enterprises.
Siemens Energy, which scored a sharp gain in the previous session on upbeat results, is up 1.1%. E.On, Daimler Truck Holding, RWE, MTU Aero Engines, Continental and Allianz are modesly higher.
Indian Shares Set For Weak Start Amid FPI Outflows
Thai Stock Market Called Lower Again On Thursday
Japanese Market Sharply Higher
Losing Streak May Continue For Indonesia Stock Market
Australian Market Significantly Lower
Indonesia Manufacturing Sector Climbs Into Expansion - S&P Global
Japan Manufacturing Sector Ebbs In September - S&P Global
