FRANKFURT (Dow Jones) — According to a trader from Lang & Schwarz, BASF was at the center of after-hours trading in German stocks on Wednesday evening. The shares were valued 4.5 percent lower. After Xetra closed, the chemical company had significantly lowered its outlook for the year as a whole after a slump in sales and profits in the second quarter. “In the meantime, investors also bought the share up again, but then there was a second wave of sales,” said the market participant.
There was significantly less turnover with Südzucker, the stocks were traded 1 percent higher. After a continued positive development in the second quarter of the 2023/24 financial year, the company had announced a significant increase in earnings.
After a downgrade by the Jefferies analysts, SMA Solar lost 1 percent.
===
XDAX* DAX change
10:15 p.m. 5:30 p.m
16,027 16,023 +0.02%
===
*The XDAX reflects the development of the interest-adjusted DAX futures.
Contact the author: [email protected]
DJG/flf
(END) Dow Jones Newswires
July 12, 2023 16:25 ET (20:25 GMT)
Selected leverage products on BASF
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products from BASF
Leverage must be between 2 and 20