Deutsche Bank shines with numbers, Delivery Hero convinces investors with its vision, Ford is weak in electric cars and BASF works on a combination!

Reporting season is happily underway!

Sometimes brokers act almost schizophrenic. Only recently did markets come under pressure after strong economic and labor market data from the US rekindled concerns about interest rates. Now there were discouraging statistics that show weak economic growth abroad. Instead of seeing this as an argument for a possible interest rate hike, investors reacted by selling. The situation in this country was better, which is thanks to the convincing quarterly figures.

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It can create passion Deutsche Bank (DE0005140008) which was able to increase its pre-tax profit by almost ten percent to more than two billion euros in the last quarter. Shareholders received a total profit of 1.3 billion euros. According to CEO Christian Sewing, this is the best result since 2013.

Last but not least, savings measures were evident, as Deutsche Bank increased sales by just one percent. But the brokers were not bothered by that at all. As, along with the positive figures, the IT problems at the Post Bank were also described as being resolved, a positive mood prevailed in the markets. Deutsche Bank shares rose 8.2 percent to a new 5-year high of 16.71 euros. At the end of the trade, the ticker was not very attractive at 16.66 euros.

Delivery Hero is growing faster

Of course the memory Delivery Hero (DE000A2E4K43) still far away. However, the food supplier was also able to make significant gains based on the figures and boost its share price by 6.4 percent to 30.79 euros on Thursday. This meant that the losses of the previous two weeks were largely compensated. What has been well received by the markets is basically a view of the future.

Sales this year are expected to increase by 18 to 21 percent instead of the 15 to 17 percent previously estimated. In the first quarter, revenues increased by almost 20 percent. The focus is now, among other things, on bringing unprofitable businesses into the black. Delivery Hero was finally able to exceed poor expectations and once again provide investors with a compelling outlook.

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Ford is feeling the effects of the electric car recession

The American carmaker already announced on Wednesday Ford (US3453708600) Figures that, on balance, were in line with expectations. However, the stock was only able to benefit for a short time and the initial price gain of three percent narrowed to 0.7 percent in yesterday’s trade. Although earnings per share were above analysts’ estimates, there was disappointment in terms of sales.

CEO Jim Farley sees big problems in the area of ​​electric vehicles and even sees a threat to the entire industry. The EV and software division reported a loss of $1.3 billion. Sales figures for electric vehicles are constantly increasing. However, the ongoing price war is pushing margins into the wrong places. There is currently no end in sight to this development. On the contrary: Industry leader Tesla cut prices again a few days ago. There is no enthusiasm among investors, although Ford has performed respectably in other areas.

No surprises at BASF

A major chemical company also suffered from low prices BASF (DE000BASF111) which only reported a profit of 1.4 billion euros for the last quarter instead of 1.6 billion euros from the same period last year. Thanks to strong austerity measures, the decline in adjusted EBITDA was at least minimal. BASF reported down 5.3 percent, but managed to slightly exceed market expectations with 2.7 billion euros.

All in all, there were no big surprises and BASF only confirmed further predictions. It is good that there was no bad news to see. However, that wasn’t enough for shareholders to get into buying mode. Instead, BASF shares fell slightly by 0.6 percent on Thursday and retreated to 50.99 euros.

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Exciting days

There will still be several numbers to see in the future, which will be followed like a hawk in the market. Market conditions are characterized by fear. A good result certainly gives relief and confidence to some big organizations. But there are also other market players who fear signs of the end of the general uptrend. In any case, tension is guaranteed first.

26.04.2024 – Andreas Göttling-Daxenbichler

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