German Blue Chips Post Best Earnings Growth Since Early 2024

Dow Jones
Aug 14

1608 GMT - Members of Germany's DAX blue-chip index posted their fastest earnings growth rate for the second quarter since at least the first quarter of 2024, according to Deutsche Bank. DAX companies' aggregate year-over-year earnings growth accelerated to 11% last quarter from 5% the prior quarter, equity and cross-asset strategists at Deutsche Bank say in a research note. "Most sectors contributed positively to growth, with industrials accounting for the largest part. Chemicals benefited from a major base effect. Growth in financials slowed compared to previous quarters and autos once again weighed substantially on growth," they say. Sales growth at DAX companies recovered to 3%, and would have reached 8% excluding the auto sector, according to Deutsche Bank. The DAX closes 0.1% lower.

 

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