With a strong start to the week, the Dax initially left its recent downward trend on Monday. The leading German index rose by 1.26 percent to 14,158 points in the first hour of trading.
With a strong start to the week, the Dax initially left its recent downward trend on Monday. The leading German index rose by 1.26 percent to 14,158 points in the first hour of trading.
The MDax for medium-sized companies rose by 1.34 percent to 29,590 points. The Eurozone leading index EuroStoxx 50 gained 0.8 percent. The fact that the indices on Wall Street were still able to make up for their high losses on Friday has a supportive effect. In Japan, the stock market also posted gains in the morning.
With the Ifo business climate, Germany’s probably most important leading indicator is on the agenda in the morning. The war in Ukraine and the tough corona policy in China are likely to continue to weigh on the recovery.
The focus on the market is the energy technology group Siemens Energy, which intends to completely take over its Spanish wind power subsidiary Siemens Gamesa. The remaining 32.9 percent are to be acquired with an offer of EUR 18.05 per share. If successful, Energy Gamesa wants to be taken off the stock exchange and integrated into the group.
Market participants see the already expected step by Siemens Energy positively. The use of capital is not in the foreground, but that you can finally get the daughter’s problems under control, said a stockbroker. Shares in Siemens Energy rose by more than two and a half percent, Siemens Gamesa jumped around six and a half percent in Madrid.
There is also a takeover bid for Deutsche Euroshop. As announced by the investment vehicle Hercules BidCo, the shareholders of the real estate group specializing in shopping centers are to be offered EUR 22.50 per share. The offer price consists of EUR 21.50 per share plus EUR 1 as a dividend for the 2021 financial year. The shares of Deutsche Euroshop, which is listed in the SDax, rose by 42 percent in the direction of the offer price.
Buy recommendations boosted the shares of the two credit houses Deutsche Bank and Commerzbank with plus 2.9 and plus 1.9 percent. Keefe, Bruyette & Woods upgraded Deutsche Bank to Outperform. Societe Generale (SocGen) changed its vote for Commerzbank from “Hold” to “Buy”.
The car supplier Leoni, which has been in trouble for a long time, is working with its creditors to find ways to raise around 50 million euros. According to the wiring harness specialist, the issue of new shares or a convertible bond is being considered in order to raise the hoped-for sum. The papers went down more than seven percent.
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.
