MARKETS EUROPE/Downward – Siemens Energy looking for numbers

DOW JONES–The European stock markets are heading downwards at the end of the week, after there were signs of stabilization before the trading session. But the local stock exchanges cannot escape the weakness on Wall Street and in Asia. The DAX lost 0.7 percent to 23,869 points and has slipped back below the 24,000 mark. “Those who bought cheaply last week obviously realized their profits again quickly,” said QC portfolio manager Thomas Altmann, commenting on the setback from the previous day. It will now be exciting to see at what level buyers come back into the market. It is quite possible that this purchase threshold will gradually shift downwards.

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The Euro-Stoxx-50 also fell by 0.7 percent to 5,703 points, with the technology sector being one of the biggest losers with a discount of 2.1 percent. The day before, significantly lower expectations of interest rate cuts had dampened the mood on Wall Street and caused the often high valuations to melt, particularly in the tech sector. Because the US Federal Reserve lacked various economic data as a result of the shutdown, which has now ended, it should initially act cautiously and possibly not lower interest rates further in December, according to the idea. Some US central bankers also made similar statements.

Siemens Energy increases forecast

Siemens Energy (+11.2%) increased its sales and earnings significantly in the past financial year and will pay its shareholders a dividend again after several zero rounds. RBC says that the fourth quarter figures are in line with expectations, including good orders and a slightly positive sales forecast for 2026. The most important news for analysts is the significant increase in the medium-term forecast for the Gas & Grid divisions for 2028.

Allianz (+1.4%) also has positive news. The insurer benefited from strong property-casualty business in the third quarter. Operating profit rose more than analysts expected to a record level. Europe’s largest insurer is somewhat more confident about its operating profit in the current year.

A stock trader sees a Bild report as damaging for Rheinmetall, according to which Defense Minister Pistorius is questioning a deal because there are said to be significant problems with the ordering of six frigates. According to the report, the project, with current costs of almost 10 billion euros, is well above the planned budget and is also behind schedule. According to the newspaper, the federal government is now apparently considering measures. In a new tender, ships produced by TKMS with a price of almost one billion each would offer an option. While Rheinmetall is trading 4.2 percent lower, TKMS is trading unchanged.

The Bechtle figures for the third quarter and the outlook for the fourth have been received extremely well, after the company has disappointed in the past and lost its reputation among its fans on the stock market. The stock shot up 14.3 percent. According to a market participant, the pre-tax result is around 20 percent above the consensus and the outlook for the final quarter also reads well. The IT service provider may have succeeded in turning the trend around.

Nagarro (+20.9%) continued the positive trend from the previous quarter and delivered a convincing third quarter with strong sales growth accompanied by an expansion in margins. One market participant highlighted the net profit as positive; it rose disproportionately by 68 percent. The outlook has also been confirmed and now contains positive surprise potential for market participants.

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INDEX last +/- % absolute +/- % YTD

Euro Stoxx 50 5,703.03 -0.7% -39.76 +18.2%

Stoxx-50 4,820.21 -0.6% -29.70 +13.3%

DAX 23,869.20 -0.7% -172.42 +22.5%

MDAX 29,413.95 -0.7% -196.62 +15.6%

TecDAX 3,511.32 -1.1% -37.26 +4.6%

SDAX 16,073.99 -0.8% -135.15 +17.9%

CAC 8,189.68 -0.5% -42.81 +11.7%

SMI 12,736.05 -0.0% -4.86 +10.3%

ATX 4,873.94 -0.6% -27.87 +34.6%

FOREX last +/- % 0:00 Wed, 17:09 % YTD

EUR/USD 1.1628 -0.1% 1.1636 1.1598 +11.9%

EUR/JPY 179.84 +0.0% 179.82 179.44 +10.1%

EUR/CHF 0.9205 -0.2% 0.9224 0.9242 -1.5%

EUR/GBP 0.8834 -0.0% 0.8837 0.8829 +6.7%

USD/JPY 154.66 +0.1% 154.53 154.72 -1.6%

GBP/USD 1.3163 -0.0% 1.3167 1.3135 +4.9%

USD/CNY 7.0727 +0.0% 7.0725 7.0811 -1.8%

USD/CNH 7.0994 +0.1% 7.0956 7.1126 -3.0%

AUS/USD 0.6526 -0.1% 0.6533 0.6543 +5.7%

Bitcoin/USD 97,216.20 -2.6% 99,774.00 101,890.80 +7.6%

CRUDE OIL most recently VT-Settlem. +/-% +/- USD% YTD

WTI/Nymex 59.40 58.69 +1.2% 0.71 -18.3%

Brent/ICE 63.65 63.01 +1.0% 0.64 -15.7%

METALS last day previous +/- % +/- USD % YTD

Gold 4,176.60 4,171.74 +0.1% 4.86 +59.9%

Silver 52.78 52.28 +1.0% 0.51 +84.5%

Platinum 1,357.88 1,360.94 -0.2% -3.06 +59.5%

Copper 5.06 5.10 -0.7% -0.04 +23.2%

YTD based on the previous day’s closing level

(Information provided without guarantee)

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DJG/thl/ros

(END) Dow Jones Newswires

November 14, 2025 04:24 ET (09:24 GMT)