FRANKFURT (dpa-AFX) – The DAX, which was already weaker the day before, is likely to fall a little further on Thursday. The broker IG valued the German leading index almost 0.2 percent lower at 24,114 points a good two and a half hours before the Xetra opening. This would mean it would slip back below its 21-day line.
On Wall Street, the most important US indices temporarily fell significantly on Wednesday after the end of trading in Europe. Ultimately there was a clear minus. Overall, they were just ahead of their records from the beginning of the month.
According to the quarterly report, which was published after the US stock market closed, SAP (SAP SE) is likely to play the leading role on the German market. SAP has become more cautious about its annual growth targets due to currently more cautious customers. SAP shares traded in the USA fell four percent after trading.
However, Jefferies analyst Charles Brennan noted a better mood in the conference call than after the second quarter. This applies in particular to the current cloud backlog, i.e. the contractually guaranteed cloud revenues in the next 12 months./ag/zb