The roller coaster ride on the German stock market continued in the middle of the week.
The roller coaster ride on the German stock market continued in the middle of the week.
After the slight losses the day before, the Dax rose in early trading on Wednesday by 0.72 percent to 15,949 points and thus remains in close contact with the record high of mid-August at 16,030 points. The MDax advanced in the morning by 0.78 percent to 36,235 meters. The index of medium-sized stocks had climbed to a record high the day before, but then turned into the red.
In the morning, rising prices in the Far East helped, the Japanese Nikkei index rose to its highest level since mid-July. The stock exchanges in China rose at a similarly strong pace and were not slowed down by weak economic data.
But the DAX gains since the beginning of the year and the latest record high also urge caution: “Such a profit path is extremely unusual and usually leads to a clear downward reaction,” wrote analyst Christian Schmidt from Landesbank Helaba. High inflows of funds into stocks and more and more active private investors in the corona pandemic could be signs that the stock exchanges are overheating.
In the absence of stimulus from companies, analyst comments caused movement, and this is where the real estate industry is in focus. The US investment bank Goldman Sachs invites you to an industry meeting this Wednesday and shortly before that, it had lowered the shares of Alstria Office from “Buy” to “Neutral”.
Morgan Stanley also canceled its buy recommendation for Alstria Office, which lost 1.5 percent at the end of the MDax. The shares of LEG Immobilien are also no longer on the investment bank’s buy list, which initially did not, however, weigh on the share.
At the bottom of the Dax were Siemens shares with a minus of half a percent. The US broker Stifel has reduced the technology company’s paper from “buy” to “hold”. At the top of the Dax, Delivery Hero rose in price by 2.8 percent and thus expanded the profits from the previous day.
The Commerzbank shares benefited from the fact that the major bank UBS canceled its sell recommendation for the papers. The price increased by 2.5 percent.
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.
