DAX on Tuesday: Record temperatures and record high?

Kontron AG - %

After a somewhat weaker start to the week, the DAX appears to be making up some ground on Tuesday. However, the domestic benchmark index remains well below the previous day's high of 24,120 points. It initially rose on Monday but was unable to sustain its gains. Some support is coming from Wall Street. China's mainland stock markets are barely reacting to the positive economic data this morning.

The Dow Jones continued its recovery rally yesterday to its highest level since February. Meanwhile, the Nasdaq indices and the broad-based S&P 500 saw further record highs. The highest prices were reached well after the end of European trading. Hopes for an easing of the trade conflicts combined with speculation by some investors that the U.S. Federal Reserve might cut interest rates sooner than previously expected.

Following recent price gains in Tokyo, investors in the Japanese stock market became more cautious on Tuesday. The US government's tone regarding the tariff dispute intensified. Japan's leading index, the Nikkei 225, recently fell 0.9 percent. In Sydney, the S&P/ASX 200 was slightly in the black, as was the CSI 300 index, which includes the leading stocks on the Chinese mainland stock exchanges. Trading in the Chinese special administrative region of Hong Kong was suspended due to the holiday.

The Austrian technology group Kontron is divesting itself of its Jumptec module business. Congatec, a subsidiary of Deutsche Beteiligungs AG (DBAG), is acquiring 96 percent of Jumptec through a capital increase, the company announced. Congatec will fully acquire the two associated module subsidiaries in the USA and Malaysia. The transaction has already been completed, the company said. Kontron is expected to receive more than 100 million euros from the acquisition. Earnings before interest, taxes, depreciation, and amortization (EBITDA) will increase by 50 to 70 million euros in the second quarter, the company stated. Kontron will publish a correspondingly improved forecast and an adjustment to its revenue outlook with its quarterly figures. In the event of DBAG exiting Congatec, Kontron will also receive performance-related income. At the beginning of the year, Kontron consolidated its module business under an independent brand umbrella under the name Jumptec in order to meet the growing demand for modular solutions.

Wind turbine manufacturer Nordex landed another contract in June. The company will supply 21 turbines for the Latvian Pienava wind farm, the company announced in Hamburg. With a capacity of 147 megawatts, it is the country's largest wind energy project to date. Following commissioning in March 2027, Nordex will also be responsible for the maintenance of the turbines for the next 15 years.

US bank JPMorgan maintained its rating for Auto1 at "Overweight" following investor events. These events reinforced its confidence in Auto1 and Scout24 as "long" positions in the internet industry, Marcus Diebel wrote in an industry report. The respective management teams delivered "strong presentations." The market served by Auto1 has no limits to growth.

Otherwise, news from companies remains scarce, and analysts are also still holding back on providing fresh updates. DER AKTIONÄR will nevertheless report on all important developments and news on the national and international markets throughout the day.

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(With material from dpa-AFX)