Wichtige Schlussfolgerungen:

 

  • DAX und MDAX haben sich im laufenden Jahr sehr gut entwickelt und viele europäische Indizes übertroffen. Der positive Trend könnte dank politischer und wirtschaftlicher Rahmenbedingungen anhalten.
  • Die deutsche Wirtschaft profitiert von staatlichen Investitionen in Infrastruktur, Verteidigung und Klimaschutz sowie steuerlichen Erleichterungen. Diese Maßnahmen sollen das Wachstum stärken und Herausforderungen durch Handelskonflikte abfedern.
  • Analysten erwarten für deutsche Unternehmen ein überdurchschnittliches Gewinnwachstum in den kommenden Jahren. Besonders der MDAX bleibt attraktiv bewertet, während strukturelle Veränderungen im DAX höhere Bewertungen rechtfertigen.

 

'

Dieses CIO Viewpoint steht zum Download bereit. Bitte beachten Sie die wichtigen Informationen am Ende des Dokuments für Offenlegungen und Risikowarnungen.sdfn sjsn jsfnsj fnsjfnj nsjfnjfnjfnj

PDF

Sprache:

Related special reports

CIO week upfront podcast

CIO Podcast

PERSPECTIVES Weekly podcast: August 25 – No summer break for bonds

In this week’s PERSPECTIVES podcast, Dr. Dirk Steffen, the Private Bank’s Chief Investment Officer for EMEA says that while the summer break brings its usual trading slowdown and bond markets in the US have been relatively calm, European bond markets have kept moving. He also highlights economic data to watch in the week ahead. Listen to learn more.

Aug 25, 2025

italian flag

PERSPECTIVES Special

Italy: moving forward

Italy’s economy has convincingly weathered the events of recent years and is now a relatively strong performer in a European context. This new PERSPECTIVES Special report considers the implications for the country’s future development and financial markets.

Aug 04, 2025

donald trump threatens higher tariffs desktop

PERSPECTIVES Memo

Donald Trump threatens higher tariffs for EU

Reports indicate that the U.S. is demanding unilateral tariff reductions from the EU, similar to concessions offered by other countries to the U.S. Go through this article for complete information.

May 23, 2025

alternatives and saa desktop

PERSPECTIVES Special

Alternatives & Strategic Asset Allocation

Alternative investments are an increasingly important asset class and have experienced robust growth over the past two decades. In this report, we look at the advantages and challenges of integrating them into a portfolio.

May 19, 2025

energy transition utilities and electricity grids

PERSPECTIVES Special

Energy Transition: Utilities and electricity grids

As demand surges, primarily due to electrification and data centre expansion, the need for low-emission energy sources becomes critical. This transition necessitates significant investments in grid expansion and modernisation to integrate renewable energy sources while maintaining system stability and resilience.

May 16, 2025

china announces stimulus measures

PERSPECTIVES Special

China announces stimulus measures

China unveiled several stimulus measures on May 7 and it was confirmed that the U.S. and China would hold official tariff negotiations this week. In this PERSPECTIVES Special, we look at the impact of these events on Chinese equities.

May 06, 2025

Mehr ansehen

In Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S.

The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk.

No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns. Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive.

This web page is not an offer to buy a security or enter into any transaction. The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. Please consider the sales restrictions relating to the products or services in question for further information. Deutsche Bank does not give tax or legal advice; prospective investors should seek advice from their own tax advisers and/or lawyers before entering into any investment.

Change of name: As part of Deutsche Bank’s Private Bank, the former International Private Bank also adopted this title on July 20, 2023.