Stock Market Watch: Quarterly Figures from Two Presumably Unattractive Industries Surprise
The two stocks BASF and Deutsche Bank from the Dax are standing for a stock market trend from which long-term investors can draw some benefit.
The Deutsche Bank reported a net profit of 1.6 billion euros for the third quarter, exceeding analyst expectations. The bank's growth was driven by its wealth management and private and corporate banking businesses. Meanwhile, BASF has raised its earnings forecast for the second time this year, benefiting from the impact of the Iran war and higher sales prices. The chemical giant's diversified production sites have helped it withstand supply chain issues affecting Asian competitors.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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