New signals of a possible de-escalation of the Russia-NATO crisis helped the German stock market get off to a good start on Monday.
New signals of a possible de-escalation of the Russia-NATO crisis helped the German stock market get off to a good start on Monday.
There will be no impulses from the New York Stock Exchange on this day, because Wall Street is taking a break for the holiday.
In early trading, the leading German index Dax rose by 0.65 percent to 15,140.73 points. The MDax for medium-sized stocks rose by 0.34 percent to 33,084.82 points. The Eurozone leading index EuroStoxx 50 advanced by 0.36 percent to 4089.05 points.
Last week, concerns about a Russian invasion of Ukraine pushed the Dax down by two and a half percent. A summit meeting between US President Joe Biden and Kremlin chief Vladimir Putin planned for this week gives hope. French President Emmanuel Macron proposed such a meeting to the two on Sunday and then another with everyone involved, it said from Paris. According to the Interfax agency, Kremlin spokesman Dmitry Peskov initially did not comment on a possible summit between Putin and Biden on Monday.
The news about the sharpest increase in producer prices in Germany since the surveys began in 1949 also provided impetus. Compared to the same month last year, producer prices shot up by 25.0 percent in January and at the same time exceeded analysts’ estimates.
The price increases of Deutsche Bank and Commerzbank also reflected such an expectation. Deutsche Bank shares were favorites in the Dax with a plus of 2.0 percent and those of Commerzbank were favorites in the MDax with a plus of 2.5 percent.
Bayer shares gained 1.4 percent. The pharmaceutical company can now also sell its drug Finerenone for the treatment of patients with chronic kidney disease and type 2 diabetes in the European Union.
Vitesco brought up the rear in the SDax with minus 4.4 percent. At times, the car supplier’s papers even fell to their lowest level since the end of November. In contrast, the shares of SAF-Holland increased by 1.6 percent according to figures, because the commercial vehicle supplier defied the increase in raw material costs in 2021 thanks to high demand. Sales and adjusted operating profit exceeded expectations.
Wacker Neuson shares were the favorite in the SDax with 5.1 percent. Unexpectedly good quarterly results and the encouraging outlook testified to the new operational strength and cost control of the construction equipment group, wrote analyst Martin Comtesse of Jefferies.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
