European Markets Surge as Siemens Energy Hits Record High, US Indices Set Records Despite Shutdown
European markets surged today, with the MDax and EuroStoxx 50 both gaining over a percent. Siemens Energy shares hit an all-time high, boosted by positive analyst evaluations. Meanwhile, US indices set records despite a government shutdown in the United States.
The MDax climbed by 1.25 percent to 30,841 points, while the EuroStoxx 50 rose by 1.6 percent. This uptick comes amidst a 99 percent probability of a further rate cut by the Federal Reserve later this month.
Siemens Energy's shares soared nearly five percent to a record high of around 110 euros. This surge was driven by positive analyst evaluations from Goldman Sachs and Berenberg. Goldman Sachs set a price target of 124 euros, while Berenberg raised its target to 122 euros. The analysts cited improved earnings forecasts and positive business developments in offshore wind and gas energy sectors.
In the United States, despite the ongoing government shutdown, the S&P 500 and Nasdaq 100 indices reached new records. Historically, government shutdowns have been brief, with an average duration of eight days since the 1970s, and have had a limited impact on markets. Hochtief shares also reached a record high following a buy recommendation from Bank of America's analysts.
Today's market performance demonstrates investor confidence, with positive analyst evaluations driving Siemens Energy's record high. Despite the US government shutdown, US indices continue to set records, indicating a resilient market.
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