Dax-cellent returns: exploring the recent highs in the German DAX index
BNP Paribas Wealth Management
00:00
German Companies Weathered a Difficult Macro Environment
German large caps are in aggregate only valued at 11.5 times forward PE ratio after the latest round of earnings upgrades. German companies have weathered a difficult macro environment surprisingly well up to now and remain cheap with positive fundamental profit momentum. The positive trend is your friend, particularly in a stock market that is not particularly loved by foreign investors given the macro backdrop. We keep our positive view on stocks overall with a positive view within European stocks including German names.
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