Profits down at BMW thanks to emissions tests and provisions

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Dax scores 11,600 points after US congressional elections

9:39: The German stock market began trading on Wednesday after the mid-term elections in the United States with quick profits. The Dax rose 0.92% to 11,589.02 points in the first minutes. The MDax jumped from 0.29% to 24,272.31% and on the European scene, the main EuroStoxx 50 index gained 0.69% to 3,229.67 points.

Republicans around US President Donald Trump have lost in the House of Representatives as experts were expecting a majority, but they could claim the Senate. "The success of Democrats will make life more difficult for Trump, and he suggests that voters are not too happy with his government," said CMC Markets' expert David Madden.

The next topic is at the center of the US Federal Reserve 's attention, which, unlike the rest, will not further inform its monetary policy until Thursday. However, something new is not expected. Another rate hike in December is likely.

Asian stock markets close after mid-term elections in the United States with slight losses

9:15: Slight losses hit mid-week equity markets in the Asia-Pacific region. Levies, however, have remained within reasonable limits. Following Democrats' conquest of the House of Representatives in mid-term elections in the United States, President Donald Trump may now have more difficulty in governing, observers say. This could have a negative impact on the stock markets.

"It is now unlikely that any other tax cuts," said badyst David Madden of broker CMC Markets. Voters have shown that they "are not too happy with the government". Trump will continue to pay punitive tariffs despite Democrats' victory in the House of Representatives in trade disputes, particularly in the conflict with China, said a trader.

The CSI 300 index, with the 300 largest stocks on the Chinese mainland, lost 3.65% to 3,221.91 points. In Hong Kong, the Hang Seng index edged down 0.24% to 26,059.43 points. In Tokyo, the Japanese Nikkei 225 index closed down 0.28% to 22,085.80 points.

Xing benefits from a shortage of skilled workers and a strong demand from businesses

8:57: The Xing Career Network continues to benefit from the shortage of skilled workers and therefore the sustained demand from businesses. In the first nine months of the year, sales rose 26% to 170 million euros, announced Wednesday in Hamburg the subsidiary Burda, listed on SDax.

Part of the revenue growth is attributable to two acquisitions – adjusted for these effects, revenues increased by 21%. The business customer sector was the main revenue driver, helping human resources to find skilled workers.

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The strong growth has also paid off. Earnings before interest, taxes, depreciation and amortization (Ebitda) increased by 17%. The net result was a profit of 24.5 million euros, 18% more than a year ago.

Auto parts maker Schaeffler faces costs after profits drop

8:40: Schaeffler wants to pay more attention to costs after a fall in profits and lower forecasts. "What matters now is the discipline of cost and capital," Klaus Rosenfeld, CEO of Schaeffler, told Herzogenaurach on Wednesday.

In the third quarter, the remaining profits of the MDax group fell by 16% to 257 million euros. Schaeffler had already halted its own profit forecasts for the current financial year at the end of October, mainly due to the deterioration of the auto markets in China.

"While we can offset some of this deterioration through our industrial operations, we are particularly challenged to be as proactive and careful as possible," said Rosenfeld.

The day before, Schaeffler had announced the closure of two plants in Britain in the medium term because of Brexit. Preliminary figures already known for the third quarter confirmed the francs. Sales rose 2.5% to 3.5 billion euros, while earnings before interest and taxes adjusted for special items decreased 14.7% to 355 million euros. 39; euros.

The largest division of Schaeffler is the subcontracting of the automotive sector. With the problems, the company is not alone, many suppliers and manufacturers have had this year, among others due to the customs dispute between the United States and China, the downward forecast, because buyers of Chinese cars of uncertainty currently hold back.

Symrise perfume maker enjoys low profits due to high cost of raw materials

8.24: Hurricane Florence and the high costs of raw materials have affected the profit of the perfume and fragrance manufacturer Symrise. In addition, the MDax group is currently investing heavily in the expansion of production. Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by almost 2% to reach the first nine months of 2018, to 475.7 million euros, as announced Wednesday in Holzminden.

At the same time, demand from the cosmetics and food industries continues to drive sales growth. From January to the end of September, turnover rose by 4.6% to 2.38 billion euros. Excluding the weight of the strong euro, growth would have reached 8.8%.

For this reason, Symrise is now even more optimistic for the entire year and has again raised revenue growth forecasts on its own initiative: an increase of more than 8% is now expected.

German industry increases its total output

8:20: German industry slightly increased its total production in September. According to data from the Federal Statistical Office on Wednesday, there was an increase of 0.2% over the previous month. In contrast, badysts expected average stagnation.

The August result came out better than what we previously knew: instead of a 0.3% drop, according to the new figures, an increase of 0.1 %. However, as announced by the Federal Ministry of Economy, production declined throughout the third quarter.

Oil prices continue to fall because of the abundance

8.17: Oil prices continued their trend on Wednesday and continued to fall. A barrel (159 liters) of Brent from the North Sea cost US $ 71.76 this morning. It was 37 cents less than the day before.

West Texas Intermediate (WTI) crude oil prices fell 48 cents to $ 61.73. In recent weeks, crude oil markets have taken off. If crude oil shortages were forecast until early October, an oil spill is currently expected.

The main reason for this change of sentiment is that the United States is applying its oil embargo on Iran much less than expected. For example, many large buyers of Iranian crude oil must be temporarily exempted from the embargo. This has greatly reduced the fear of bottlenecks in the supply.

In addition, it is becoming clear that the oil supply of major mining countries such as the United States continues to increase. On Tuesday, the US Department of Energy (EIA) continued to raise its forecast for US oil production. Russia and the Opec oil cartel have recently extended their support. The increasing supply pushes prices.

Scout24 stays on track and increases sales

8:10: Scout24 remains on track for its annual targets after the third quarter. Consolidated revenue grew 10.8% to 131.3 million euros compared to the same period of the previous year. With the portal Finanzcheck.de, taken again in July 2018, sales even increased by 13.6% to 134.6 million euros, as announced the company Wednesday in Munich.

Ebitda was better than expected at 75.1 million euros (62.7 VJ) in the third quarter. Scout24 is best known for its online portals Immobilienscout24 and Autoscout24. With the acquisition of Finanzcheck.de, Scout24 hopes to create synergies in the field of consumer credit.

"We are moving into the double-digit growth zone and continue to badume that we are reaching our goals for the full year of 2018," said CFO Christian Gisy, according to the announcement.

Profits down at BMW thanks to emissions tests and provisions

8:08: The automaker BMW has seen a drop in profits due to the introduction of new emission control procedures and costly recalls. In the third quarter, earnings before interest and taxes also fell 26.8% to 1.75 billion euros due to the customs dispute between the United States and China, announced the Dax group Wednesday in Munich . This was a slightly stronger decline than expected in the market.

In contrast, sales rose 4.7% to 24.7 billion euros. In the automotive division, the operating margin fell by almost half to 4.4%. BMW declined during the quarter due to impending costs for guarantee cases of 679 million euros. The net result was also a decline in profits of 23.9% to 1.41 billion euros. The outlook, which had been lowered in September, was confirmed by the Group.

Axel Springer records a strong third quarter

8:04: After a strong first half, Axel Springer again posted strong earnings and earnings growth in the third quarter of 2018. The company benefited from continued dynamic digital business development.

Their contribution to the group's adjusted EBITDA reached 81.2% in the first nine months (previous year: 77.1%). Digital business grew 9.1%, accounting for 69.2% of Group revenue and 85.3% of advertising revenue, taking into account the accounting standards applied since the beginning. of the year (IFRS 15). Overall, Group sales reached € 2,326.0 million during the reporting period, up 4.7% over the previous year (compared to € 2,222.0 million the previous year). .

Adjusted for consolidation and currency effects, the Group's revenues increased by 3.6%. Axel Springer significantly increased earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects by 14.4% to EUR 541.4 million in the first nine months (previous year: EUR 473.4 million) .

"In recent months, we have achieved our goals, both strategically and operationally, investing in brands, products and technologies, driving international growth and remaining highly profitable," said Mathias Döpfner, CEO. of Axel Springer SE.

Fraport, the airport operator, records an unexpected growth

7:46: Despite the summer chaos in aviation, the operator of Frankfurt Airport, Fraport, has achieved a surprisingly high profit increase in the third quarter. The net profit was a profit of more than 210 million euros, or 16% more than a year ago, as announced Wednesday the company publicly traded MDax in Frankfurt.

Operating profit (EBITDA) increased by 8% to 419 million euros. Sales rose 16% to 1.02 billion euros. The company has always exceeded badysts' expectations. For the current year, Fraport CEO Stefan Schulte continues to target an Ebitda of 1.11 billion euros.

Added to this is a profit from the sale of the stake in Hannover Airport. At Germany's largest airport in Frankfurt, Schulte still expects more than 69 million pbadengers, about 7% more than the year before. In October, the number of pbadengers in Frankfurt increased according to preliminary figures of 5.2%. This represents an increase of 8.0% for the first ten months.

Adidas expects higher profit

Wednesday, November 7, 2018, at 7:35 am: Sportswear maker Adidas has raised its earnings guidance for 2018 after a profit surge in the third quarter. Profit from continuing operations is expected to increase by 16 to 20 percent, Adidas said Wednesday. In the best case, this corresponds to a value of 1.72 billion euros.

Previously, the group was expecting an increase of 13 to 17%. At the same time, however, Adidas has obscured its sales expectations. In a full year, it should grow by 8 to 9% at constant exchange rate. Until now, about 10% were expected. The reason for this is below-forecast growth in Western Europe.