DAX Rallies As Trump Claims Victory
2024-11-03
4765
(fxcue news) - German stocks rose sharply on Wednesday as U.S. Republican candidate Donald Trump appeared to be heading for a return to the White House after claiming victory in several key battleground states.
Investors were also reacting to data that showed Germany's factory orders rebounded in September on strong growth in aircraft and other transport equipment orders.
Factory orders advanced 4.2 percent on a monthly basis in September, in contrast to the revised 5.4 percent decline in August, Destatis reported.
Economists had forecast orders to grow moderately by 1.6 percent after September's initially estimated decline of 5.8 percent.
The benchmark DAX was up 270 points, or 1.4 percent, at 19,526 after rising 0.6 percent in the previous session.
Siemens Healthineers jumped almost 8 percent after the medical technology company reported revenue growth and full year adjusted earnings before interest and taxes (EBIT) in line with estimates.
Evotec SE, a pharmaceutical drug discovery and development company, slumped 12.2 percent after reporting declines in revenues and profits in the first nine months of the year.
Sports brand PUMA fell 2.5 percent after Q3 sales came in below expectations.
Chemical and consumer-goods firm Henkel rose 1.2 percent after reiterating its FY24 sales and earnings guidance.
Automaker BMW plunged 5 percent on reporting a 61 percent drop in its quarterly third-quarter profit.
Software developer TeamViewer lost nearly 10 percent after trimming its revenue forecast.
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