Blog – German stock market ends at an all-time high

5:49 PM – Bel20 closes the last trading day of the week higher

The Eurostoxx50 closed the trading day 0.65 percent higher and the Bel20 gained 0.5 percent.

  • Within the Belgian star index, UCB was ultimately the strongholder with a price gain of 1.65 percent.
  • Aperam, on the other hand, was the weakest of the class and lost 0.9 percent.

Remarkable: The German Dax finished at a record high: 16,275 points, compared to the previous record of 16,159.97 points.

This is it for today! Next week we will be back with a renewed blog, in which we no longer only follow stock market news, but will also pay attention to all other news from the economic world. Have a nice weekend and see you Monday!

5.34pm – US debt ceiling negotiations halted

Negotiations to raise the US debt ceiling have stalled. Various media reported this, including business channel CNBC.

  • An ally of House Speaker Kevin McCarthy announced the news. Republican Representative Garret Graves of Louisiana says the White House is acting “unreasonably.” It is not yet clear how long the talks will be at a standstill.
  • Just yesterday, McCarthy said that a deal could be voted on in the House of Representatives as early as next week. However, ActivTrades market experts already warned that as long as there is no deal, a doomsday scenario will still hang over the markets.

16.46 – More European rate hikes in the works?

Christine Lagarde, president of the European Central Bank (ECB), noted in an interview with the Spanish TV channel TVE that the monetary institution must do everything possible to bring inflation down further. “We are starting to see the effect of the measures, but we still need sustainably high interest rates,” he said. This hints at further rate hikes.

Knowing more? Then be sure to read this piece.

3:51 PM – Wall Street opens in the green

After about twenty minutes of trading, the Dow Jones is up 0.15 percent and the S&P 500 is up 0.3 percent. The Nasdaq added 0.1 percent.

15.09 – Bank of America warns of an AI bubble

Bank of America strategist Michael Hartnett reiterated his call to sell US stocks. According to him, there is a bubble in the making in the AI ​​sector and the US interest rate hikes are not over yet.

  • Hartnett, who correctly predicted last year that recession fears would fuel a selloff in stock markets, recommends selling the S&P 500 at 4,200, the index’s current level.

14.13 – UBS: “Gold price will continue to rise”

The gold price will continue to rise in the coming months. Analysts expect that from UBS.

  • The gold price is on the rise and is more than 7 percent higher this year and is on track to tighten the record levels, according to the analysts of the Swiss bank.
  • UBS sees 3 key factors for the medium and long term that support this view.
    • First, central bank demand should remain robust. Last year was the thirteenth consecutive year of net gold purchases by major central banks, and the highest level of annual demand on record. UBS expects this trend to continue, thanks to increased geopolitical risks and a desire to diversify.
    • Second, the weakness of the US dollar is supporting gold prices. UBS expects the current headwinds in the dollar to continue as a turnaround in the Federal Reserve’s interest rate policy is imminent.
    • Finally, the rising recession risks in the US may cause investors to look for so-called safe havens.

14.02 – German Dax flirts with record level

The German Dax index is currently up 0.7 percent at 16,275.94 points. This means that the German indicator is well on its way to closing the trading day at a record high. To succeed in this, the index must not fall below 16,159.97 points at the end of the day.

12.19 – Bel20 turns green

The Eurostoxx50 is currently up 0.8 percent and the Bel20 is up 0.35 percent.

  • There are few movers within the Bel20. Aedifca is down 1.55 percent and Ageas posted a profit of 1.35 percent.
  • Deutsche Bank and Berenberg also lowered their price targets for KBC. Nevertheless, the bank share gained 0.2 percent.
  • ING believes that a capital increase at Atenor is unavoidable. The price of c is currently trading 3.25 percent higher, after the hefty beating on Thursday.

11.24 – Concerns about Sofina company Byju’s again

Alpha, a subsidiary of Indian learning app Byju’s, has been accused of hiding $500 million in debt as part of the battle for control of the company in court. This is evident from an article from the news agency on Friday Bloomberg.

  • The allegation came out Thursday at a hearing in Delaware, where Alpha is filing a lawsuit over who should control the company.
  • Lenders claim a default earlier this year entitled them to put their representative, Timothy R. Pohl, in charge.
  • The Belgian holding Sofina has an interest of approximately 5 percent in Byu’s.
  • The Indian learning technology company was attacked last year by the feared analyst Fraser Penning.
  • Sofina’s share price is unresponsive to the news, suggesting that investors do not expect a major impact.

09.55 – Natural gas price plummets

The price of natural gas on the trendsetting wholesale market in Amsterdam has dropped to around 30 euros per megawatt hour.

  • That is a decrease of 25 percent compared to a week ago and more than half compared to the same period a year ago.
  • The price is also no less than ten times lower than the enormous peak at the end of August last year, when prices exceeded 300 euros per megawatt hour.
  • The fall in the gas price is due to the ample supply of liquefied natural gas (LNG) and the full stocks that European countries have built up in recent months.

09.10 – Bel20 stands still

The Bel20 index opens almost flat on this bridge day and floats around 3,716 points.

8:45 AM – Wall Street closed higher

Good morning! US stock markets ended higher yesterday.

  • The S&P 500 rose 0.9 percent to 4,198.05.
  • The Dow Jones index gained 0.3 percent at 33,535.91 points.
  • The Nasdaq closed 1.5 percent higher at 12,688.84 points.

Investors are watching for signs of easing stress over regional US banks and hoping for a deal on Washington’s debt ceiling. House Speaker Kevin McCarthy said the House of Representatives could vote on a possible deal as early as next week at the earliest. Meanwhile, negotiations continue.

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