After the turbulent previous week, the Dax was able to gain a little further in early trading on Monday.
After the turbulent previous week, the Dax was able to gain a little further in early trading on Monday.
After jumping over the 13,200 point mark, however, the morning’s enthusiasm quickly fizzled out. Most recently, the leading German index was only up 0.16 percent moderately at 13,147.26 points.
At almost the same time, the MDax gained 0.38 percent to 27,164.99 points. The leading eurozone index, the EuroStoxx 50, rose by 0.2 percent.
Concerns that the central banks could stall the economy too much in their fight against record high inflation had caused enormous upheavals on the stock and financial markets in the past two trading weeks. The Dax, for example, has lost more than ten percent since its interim high on Whit Monday, despite the recent stabilization.
Experts therefore do not want to overinterpret the current price gains: the market is currently not believed to be capable of more than an attempt to stabilize in the downward trend, because fears of recession and inflation continue to keep investors in check. According to Credit Suisse, investors have come to terms with the fight against inflation, but the mood remains poor – with correspondingly high market fluctuations. According to Jochen Stanzl from CMC Markets, stock market prices are currently being supported somewhat by the fall in oil prices.
Meanwhile, market observers are expecting a rather quiet trading session this Monday, since little impetus is to be expected from the economic agenda and Wall Street, an important pacesetter, will remain closed due to a public holiday in the USA.
In this country, in line with the European industry trend, the car stocks were among the biggest winners in the Dax, with Continental papers leading the way by more than two and a half percent. Shares in the recipe box mail order company Hellofresh have been able to stabilize further since April 2020 after the most recent low and rose by almost four percent at the top of the index.
At Bayer, the joy of winning another glyphosate process was short-lived, and after initial gains, the shares slipped to minus 0.3 percent. Traders took it as negative news that the US Environmental Protection Agency (EPA) had to re-examine the health risks of the active ingredient used to kill weeds on the orders of an appellate court.
A canceled buy recommendation by Oddo BHF pushed the shares of Siemens Healthineers down 1.6 percent – they almost ended up at the low recently reached since the beginning of 2021. Analyst Daniel Wendorff is now more skeptical about the development of the margin.
The papers of the food delivery service Delivery Hero, which had just been relegated to the MDax, lost more than two percent, in return Beiersdorf had moved back into the first stock exchange league after a short Dax abstinence – the papers of the Hamburg consumer goods group rose moderately by 0.1 percent. The back of the chair in the Dax family can cause price movements, since funds that replicate indices in real terms (physically replicating ETF) have to shift and reweight accordingly.
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.
