Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News

Editor's Pick

DAX index analysis after mixed Bayer, Deutsche Telekom earnings

European stock indices have done well in the past few months as the fear of a recession in the region have abated. In Germany, the DAX index jumped to €16,000, the highest point since January 2022. It is nearing its all-time high after rising by more than 33% from the lowest level this year.

Bayer and Deutsche Telekom earnings

Bayer and Deutsche Telekom will be the top companies to watch on Thursday after they published mixed financial results. Deutsche Telekom had a strong first quarter as its net revenue rose to €27.8 billion while its net debt dropped to 2.9x of EBITDA. 

The company had several important events in the first quarter. For example, it received €10.7 billion from the sale of its tower business while the company increased its stake in T-Mobile. As a result, it boosted its forward guidance for its business. 

Deutsche Telekom share price has done well having risen by 53% from the lowest point in 2022. In addition to its diversified business, the company is growing its dividends. It boosted its payouts by 9% in 2022. 

Bayer, on the other hand, published mixed results as it expressed concerns about its performance. The company’s revenue dropped by 1.7% to €14.39 billion while its EBITDA dropped by 14% to €4.47 billion. Its net income dropped by 33% to €3.3 billion. The company expects its results for the year will be at the lower side of the guidance. In its statement, the firm said:

“For the remainder of the year we see potential risks mainly arising from the significantly reduced market price expectations for our glyphosate-based products within our Crop Science Division. Overall, we, therefore, expect target attainment to come in at the lower end of our guidance.”

DAX index forecast

DAX chart by TradingView

The daily chart shows that the DAX index has been in a strong bullish trend in the past few months. It has crossed the key resistance point at €15,750, the highest point on March 6. The shares have moved above the 50-day exponential moving average. It is approaching the key resistance point at €16,290, the highest point on January 2022.

Therefore, the index will likely continue rising as buyers target this resistance point. A break above that resistance point will push it to the psychological level of €16,500.

The post DAX index analysis after mixed Bayer, Deutsche Telekom earnings appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Everynet, one of the world’s largest network operators for national LoRaWAN® networks, announces it is working with Amazon Web Services (AWS) to offer long-range...


    As more candidates throw their hats into the 2024 Presidential ring, I’d like to offer a proposal that should have immediate bipartisan support: stop...

    Editor's Pick

    The Internet of Things (IoT) is changing the way we interact with technology, and it has the potential to revolutionize the way we manage...

    Editor's Pick

    Semtech Corporation and esteemed engineering design services firm, Connected Development, today announced the launch of the new XCVR Development Board and Reference Design integrating...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023