FINWIRES · TerminalLIVE
FINWIRES

Germany's DAX Index Retreats; SAP Surges on Higher Q1 Earnings

-- Germany's blue-chip DAX index closed Friday lower by 0.11%, as investors weighed the stalled US-Iran peace talks against the latest round of corporate earnings and trading updates.

As the Strait of Hormuz remains closed, tensions linger between Washington and Tehran, with no signs of further talks on the horizon. US President Donald Trump said he is willing to wait for an "everlasting" peace deal, even as he authorized the US Navy to fire on mine-laying boats in the embattled waterway.

Against this backdrop, the ifo Institute's business climate indicator fell to 84.4 points in April 2026 from the revised 86.3 points earlier, below the consensus estimate of 85.7 points on Investing.com. The latest reading marked the index's lowest level since May 2020, with both the current situation index and expectations indicator falling from a month ago and missing market expectations.

"The war in the Middle East and soaring energy prices have again exposed the fact that Germany is one of Europe's largest net importers of energy. ... With the war in the Middle East now gradually shifting from a pure energy price shock towards an energy supply and broader supply chain shock, the German economy is once again at the centre of an exogenous, global, disruption," ING said. "All of this said, even if sentiment is suffering enormous setbacks right now and fears of another year of stagnation have returned, it should be clear that the planned investments in defence and infrastructure are still on track and should support the economy this year and beyond. The fiscal impulse is real, it just needs time to reach the real economy."

On the corporate front, SAP (SAP.F) gained 4.68%, rising to the top of the blue-chip index, after reporting an increase in first-quarter earnings on robust cloud business performance, with total revenue up 6% year over year to 9.56 billion euros. The German software company maintained its full-year 2026 forecasts, including 23% to 25% cloud revenue growth at constant currencies, while noting the outlook remains contingent on the de-escalation of the Middle East conflict.

Meanwhile, BofA Global Research upgraded its price objective and earnings estimates for Siemens Energy (ENR.F) to account for the company's revised fiscal 2026 outlook. The German energy company now projects revenue growth between 14% and 16%, improving upon its previous 11% to 13% estimate, among others.

"We raise our 2026/27 adj EBITA estimates 8/12% after ENR's guide upgrade yesterday (+10/16% vs consensus) and lift our [free cash flow] estimates 40/11% too (+42/37% vs consensus). As a result, we raise our [price objective] to EUR250 from EUR220. Reiterate Buy," the research firm wrote. Siemens Energy was up 2.64% at the end of the last trading day of the week.

相關文章

Insider Trading

根據最近提交給美國證券交易委員會(SEC)的文件顯示,沃爾瑪內部人士出售了價值2,566,987美元的股票。

2026年4月23日,董事C·道格拉斯·麥克米倫(C Douglas McMillon)出售了19,416股沃爾瑪(WMT)股票,套現2,566,987美元。根據向美國證券交易委員會(SEC)提交的4號表格文件,麥克米倫共控制該公司5,253,701股普通股,其中直接持有4,193,995股,間接控制1,059,706股。 SEC文件連結: https://www.sec.gov/Archives/edgar/data/104169/000133578226000014/xslF345X05/wk-form4_1777064792.xml

$WMT
Commodities

加拿大皇家銀行稱,金德摩根第一季獲利超出預期,調高2026年業績展望

加拿大皇家銀行資本市場策略師週五在一份報告中指出,金德摩根(KMI)第一季獲利超出預期,這主要得益於銷售成長、冬季天氣利好以及大宗商品價格走強。 加拿大皇家銀行分析師表示,目前預計金德摩根2026年調整後EBITDA將比先前預期至少高出3%,反映出其整個網路營運狀況的改善。 然而,儘管業績樂觀,金德摩根股價在財報發布後小幅下跌。分析師認為,這主要是由於積壓訂單增長有限、西部門戶項目存在不確定性以及投資者在行業其他公司財報發布前進行倉位調整所致。 今年以來,整個中游產業持續表現優異。截至4月23日當週,Alerian MLP指數上漲1.6%,超過了標普500指數1%的漲幅。今年迄今,中游基準指數上漲14.5%,而標普500指數僅上漲3.8%。 加拿大皇家銀行(RBC)表示,儘管大宗商品價格依然波動,但穩定的現金流和不斷增長的天然氣基礎設施需求支撐了該行業的強勁表現。 本週,西德州中質原油近月合約上漲約2%,至每桶約97美元;亨利樞紐天然氣價格下跌約2%,至每百萬英熱單位2.59美元。 相較之下,切尼爾能源公司(LNG)股價下跌2.1%。加拿大皇家銀行分析師表示,這可能反映了投資人在財報發布前進行部位調整,以及資金轉向其他中游公司。 本週,有限合夥企業(MLP)的表現略優於C型公司,MLP上漲1.2%,而C型公司僅上漲1%。 展望未來,投資人的焦點是Enterprise Products Partners (EPD) 和 Oneok (OKE) 即將發布的財報,兩家公司都預定在4月28日發布財報。 市場參與者將密切關注有關大宗商品價格上漲、生產商活動、項目產能提升、出口需求和資本配置計劃的影響,以及冬季天氣和主要盆地價格差變化的影響。 加拿大皇家銀行(RBC)分析師指出,其他業者,包括Williams Companies (WMB)、Energy Transfer (ET)、Targa Resources (TRGP) 和 Sunoco (SUN),也可能受到業績的正面影響,他們認為季節性需求、行銷優化和大宗商品價格波動都將帶來利多因素。

$EPD$ET$KMI$LNG$OKE$SUN$TRGP$WMB
Mining & Metals

Altus集團完成2億加幣股票回購

Altus Group (AIF.TO) 週五宣布,已根據一項股票回購計劃,以每股 52 加元的價格回購了近 385 萬股股票,總回購金額約為 2 億加元。 回購完成後,該公司目前約有 3,580 萬股流通股。該公司表示:「由於股票回購計劃 (SIB) 超額認購,以低於或等於回購價格提交競價要約的股東,以及以回購價格提交或被視為提交競價要約的股東,其成功提交的股票中約有 87.13% 被 Altus Group 回購。」 該公司表示,預計股票款項將於 4 月 29 日左右支付完畢,任何未被回購的股票將退還給股東。該公司還補充說,計劃在 2027 年初之前,透過另一項持續進行的股票回購計畫繼續回購股票。 AIF 的股價今日下跌 0.70 加元,跌幅為 1.5%。

$AIF.TO