FRANKFURT / LONDON (IT BOLTWISE) – The German stock market is under pressure after disappointing quarterly figures were published by SAP, Tesla and Netflix. These reports did not meet investors’ expectations and resulted in share price losses. Despite the negative sentiment, some companies such as Siemens Energy and Atoss Software recorded profits.
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The latest quarterly reports from SAP, Tesla and Netflix have sent the German stock market into turmoil. Investors were disappointed by the results of these heavyweights, which did not live up to high expectations. The DAX fell 0.2 percent to 24,093 points in the afternoon, reflecting the uncertainty in the market.
SAP, the German software giant, was particularly in the focus of investors. Despite initial price gains, the shares ultimately lost 0.8 percent as the company formulated its growth forecasts more cautiously. This shows that even established companies are faced with challenges in the current economic situation.
In contrast, some companies were able to benefit from the general market situation. Siemens Energy led the DAX with a gain of 1.6 percent, which can be attributed to regained investor confidence. Atoss Software also impressed with a 10 percent rally after the company announced improved profitability for the full year.
The impact of the disappointing reports from SAP, Tesla and Netflix is far-reaching. Market analysts such as Jürgen Molnar from Robomarkets warn that expectations for the current reporting season may be set too high. This could lead to further share price losses if companies fail to meet their forecasts.
Other sectors also did not remain unaffected. Deutsche Telekom shares suffered from high capital spending by US subsidiary T-Mobile, resulting in a 0.9 percent decline. Energy supplier RWE also posted losses after Citigroup withdrew its buy recommendation.
Another factor weighing on the market was the rise in oil prices triggered by US sanctions against Russian oil companies. This caused Lufthansa shares to fall 1.5 percent as rising oil prices could increase the airline’s operating costs.
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