This, in turn, put pressure on the prices of automakers and their suppliers

This, in turn, put pressure on the prices of automakers and their suppliers

With its strategy of strengthening its core business with skin care products and stimulating growth in the emerging markets, Heidenreich has made Beiersdorf a fast-growing company "Player" made in the global consumer goods sector.

In share trading, reference was made primarily to the good share price development in his era: since Heidenreich took office in 2012, the share price has roughly doubled.

Von Arx suspected that the top manager himself no longer attached much potential to the strategic direction of the past few years with a view to the future. It is also conceivable, however, that there could no longer have been agreement with the major shareholder Herz as regards growth in the premium segment beyond the Nivea brand.

In the past few years, analysts had repeatedly criticized that Beiersdorf had saved dividends in favor of the balance sheet and neglected growth through acquisitions. "The interests of the major shareholder (Herz) and the investors in the consumer goods sector have not always been a perfect match"wrote Baader analyst from Arx.

FRANKFURT (dpa-AFX) – A profit warning from Osram weighed on the German stock market on Thursday. The Dax lost 1.38 percent to 12,178.51 points in the early afternoon. The lighting specialist justified the gloomy forecast for the current year mainly with problems in the automotive industry. This, in turn, put pressure on the prices of automakers and their suppliers.

From January 2021: These health insurances increase the additional contribution New resolution: Costs for courts and lawyers rise Judgment: Tennis instructor with a broken wrist is unable to work Due to sales ban: Manufacturers collect fireworks and firecrackers again Care for 10,000 children: Ikea opens second furniture store in India

Osram paper slumped by more than 15 percent to its lowest level since January 2016. The price has thus more than halved since the beginning of the year alone. Munich’s profit this year will probably only be about half as high as previously thought. The company referred to "Planning risks at automobile manufacturers".

The bad news burdened the entire industry: In the Dax, the papers from Infineon, Continental, Volkswagen, Thyssenkrupp and BMW lost between 1.3 and 5 percent. In the MDax, industry stocks such as Hella, Leoni, Dürr and Schaeffler lost between 4 and 6 percent. Schaeffler fell to the lowest price since going public in autumn 2015.

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The leading Eurozone index EuroStoxx 50 lost 0.91 percent to 3366.26 points. The MDax of medium-sized companies fell by 1.16 percent to 25,663.25 points. The TecDax fell by 1.92 percent to 2,668.77 points.

There have recently been contradicting signals on the global trade conflict. The day before, the news had that US President Donald Trump for the time being refrained from cracking down on Chinese investments in US technology, which are still causing prices to rise. Subsequently, however, statements from Trump’s environment again caused uncertainty about the course of the US government.argumentative essay college topics

The EU summit in Brussels is also likely to cause restraint on the stock exchanges. There, Chancellor Angela Merkel (CDU) is under pressure to succeed in asylum policy. She wants to present a European solution by the weekend to prevent Interior Minister Horst Seehofer (CSU) from going it alone on the asylum issue. Such could mean the break of the union alliance and thus an end of the coalition.

Investors again exercised caution with bank stocks, with Deutsche Bank stocks falling slightly by 0.2 percent. They fell to a record low on Wednesday. On Thursday evening, the US Federal Reserve will publish the second part of its stress test for the banking industry.

The specialty chemicals manufacturer Covestro wants to generate more free funds from its operating business than originally envisaged. For the course it was still 1.6 percent down.

Puma shares benefited from a price target raised by US investment bank Goldman Sachs to 600 euros. The new price target gives the paper almost 30 percent upside potential. They increased by almost 3 percent to 483.50 euros and took the lead in the MDax.

After the historically early end of the German soccer players at the World Cup in Russia, shares in their official supplier Adidas fell by 2.3 percent. In the evening, the counterparty Nike also published results for the fourth financial quarter.

In the case of small caps, Isra Vision investors took price gains. The industrial equipment manufacturer’s papers lost almost 14 percent after almost doubling since the beginning of April alone.

The current yield on the bond market was unchanged at 0.16 percent. The Rex bond index fell minimally by 0.01 percent to 141.50 points. The Bund future gained 0.12 percent to 162.63 points. The euro rose slightly, most recently the common currency costing US $ 1.1579. The European Central Bank (ECB) set the reference rate on Wednesday at 1.1616 dollars. The dollar had thus cost 0.8609 euros./bek/jha/

— By Benjamin Krieger, dpa-AFX —

(New: entry, closing prices)

Market report

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FRANKFURT (dpa-AFX) – The announced departure of CEO Stefan Heidenreich weighed heavily on Beiersdorf shares on Thursday. The price of the cosmetics and adhesives manufacturer fell to its lowest level in almost two months. Ultimately, the share certificates as the bottom of the Dax lost 5.61 percent to 93.90 euros and posted one of the largest daily losses in recent years.

The head of the Nivea Group will not extend his contract, which runs until the end of 2019. He may resign his position earlier if the supervisory board appoints a successor. Heidenreich has been leading Beiersdorf since 2012 and has expanded its market share in the highly competitive cosmetics market with innovative products.

"The progress increases the uncertainty with regard to the top management", wrote analyst Andreas von Arx from Baader Bank in an initial assessment. This also increases the uncertainty regarding the medium-term strategic direction of the company. With its strategy of strengthening its core business with skin care products and stimulating growth in the emerging markets, Heidenreich has made Beiersdorf a fast-growing company "Player" made in the global consumer goods sector.

In stock trading, reference was made primarily to the good share price development in his era: since Heidenreich took office in 2012, the share has roughly doubled in value.

It is possible that the top manager did not attach much potential to the strategic direction of the past few years with a view to the future, suspects von Arx. It is also conceivable, however, that there could no longer have been agreement with the major shareholder Herz in terms of growth in the premium segment beyond the Nivea brand.

In the past few years, analysts had repeatedly criticized that Beiersdorf had saved dividends in favor of the balance sheet and neglected growth through acquisitions. "The interests of the major shareholder (Herz) and the investors in the consumer goods sector have not always been a perfect match"wrote the Baader analyst.

FRANKFURT (dpa-AFX Broker) – Beiersdorf shares came under pressure on Thursday. They lost 3.72 percent to 95.78 euros. The reason was the announcement that the CEO, Stefan Heidenreich, will leave the group by the end of 2019 at the latest and that the Supervisory Board will discuss future strategy and investments from autumn onwards.

Market report

Stock exchanges and markets: How the DAX, Dow, Euro, oil and gold develop

Heidenreich did a very good job at Beiersdorf, which is also reflected in the share price, said a trader. The share price has doubled since he took office. However, there have been critical voices again and again because of the reluctance of Hamburgers to make acquisitions for additional growth and the dividend policy./bek/jha/

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dpa-AFX Broker – the trader news from dpa-AFX

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FRANKFURT (dpa-AFX) – the day before, the comparatively stable shares of Beiersdorf increased their relative strength on Tuesday with a price gain of 3 percent. They were not only the front runner in the Dax, but also in the European industry index for consumer goods manufacturers. With 95.98 euros, they made it back over the 200-day line as a longer-term trend barometer.

In a current strategy study, the Deutsche Bank experts stuck with theirs "Overweight"-Classification for the branch that belongs to the defensive area. They expect the industry to be 3 percent behind the overall market in the next six months. Looking at the global purchasing managers’ indices, they are skeptical about the coming months, which would also be positive for manufacturers of consumer goods and household goods.

FRANKFURT (dpa-AFX) – The Dax put back into reverse on Thursday morning. The midweek recovery did not continue. Instead, investors acted more cautiously in view of the trade conflict and the political risks associated with the EU summit in Brussels. The Dax was down 0.79 percent to 12250.61 points.

From January 2021: These health insurances increase the additional contribution New resolution: Costs for courts and lawyers rise Judgment: Tennis instructor with a broken wrist is unable to work Due to sales ban: Manufacturers collect fireworks and firecrackers again Care for 10,000 children: Ikea opens second furniture store in India

The leading Eurozone index EuroStoxx 50 lost 0.67 percent to 3374.24 points. The MDax of medium-sized companies fell by 0.32 percent to 25,882.75 points. The TecDax fell by 0.80 percent to 2,699.41 points.

There have recently been contradicting signals on the global trade conflict. On Wednesday afternoon, the news had that US President Donald Trump for the time being refrained from cracking down on Chinese investments in US technology, which are still causing prices to rise. Subsequently, however, statements from Trump’s environment again caused uncertainty about the course of the US government.

T-Online.de/TV

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Macron reports from quarantine with a video message

MPs reckon with sexism in the Bundestag

Trump casino is blown up – who can push the button?

Instagram star dies after cosmetic surgery

Elephant cow gives birth – reaction of the herd amazes

US Vice President Pence vaccinated against Corona

NASA mission enables a first look inside Mars

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Spahn asks for patience when distributing the vaccine

Strange beer appearance in the US Parliament

Suddenly there is no stopping the minister

Container use due to Corona causes a stir

Towing service has a bad surprise

Winter weather causes chaos on the US east coast

"A full-blown trade war with negative consequences for everyone involved can apparently no longer be ruled out"said Marco Bargel from Postbank. At the same time, there were increasing signs of a slowdown in the eurozone economy. According to the economist, the economic upswing may end.

The EU summit in Brussels is also likely to cause restraint on the stock exchanges. There, Chancellor Angela Merkel (CDU) is under pressure to succeed in asylum policy. She wants to present a European solution by the weekend to prevent Interior Minister Horst Seehofer (CSU) from going it alone on the asylum issue. Such could mean the break of the union alliance and thus an end of the coalition.

Investors again exercised caution with bank stocks, with Deutsche Bank stocks falling 0.5 percent. They fell to a record low on Wednesday. On Thursday evening, the US Federal Reserve published the second part of its stress test for the banking sector.

The specialty chemicals manufacturer Covestro wants to generate more free funds from its operating business than originally envisaged. For the course it was still 0.6 percent down. Covestro also plans to invest up to 700 million euros in the coming years.

Puma shares benefited from a price target raised by the investment bank Goldman Sachs to 600 euros. The new price target gives the shares almost 30 percent upside potential. They rose by 3.4 percent to 486 euros and took the lead in the MDax.

After the historically early end of the German footballers at the World Cup in Russia, shares in their official supplier Adidas fell by 1.2 percent. In the evening, the counterparty Nike also published results for the fourth financial quarter.

Affected by surprisingly weak quarterly figures from the Austrian lighting specialist Zumtobel, shares in Osram fell by 2.7 percent. Zumtobel slumped 16 percent on the Vienna Stock Exchange.

ZURICH (dpa-AFX Broker) – The major Swiss bank UBS has lowered the price target for Adidas from 240 to 235 euros, but the rating has been reduced to "Buy" leave. Analyst Fred Speirs adjusted his earnings estimate for 2019 slightly downwards in a study published on Thursday. However, he sees the Herzogenaurach-based company on the right path to achieve a share of 15 percent in the US shoe market in the medium term – one of the key arguments for his purchase recommendation./ag/la

Market report

Stock exchanges and markets: How the DAX, Dow, Euro, oil and gold develop

Analysis date: June 21, 2018

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dpa-AFX Broker – the trader news from dpa-AFX

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