After the general election, investors felt a certain relief on Monday.
After the general election, investors felt a certain relief on Monday.
With the election result, the biggest specter of a shift to the left in Germany had been driven out for investors, it was said on the market. The first joy with a Dax increase of over 15,700 points, however, subsided. From trading, the leading index was only 0.27 percent higher at 15,573.88 points. The MDax of the medium-sized stock market values slipped just under 0.02 percent in the red. It closed at 35,274.14 points.
According to DZ Bank investment strategist Christian Kahler, a left-wing alliance would have been the only real burden on the stock market, but this is no longer one of the options. For German stocks, it makes little difference whether it comes to “Jamaica”, a “traffic light” or even a grand coalition. “Regardless of the outcome of the negotiations, Germany remains a politically safe haven in Europe,” said the expert. This is particularly important for foreign investors.
Investors increasingly turned their backs on values that were considered winners in the pandemic. Shares in online-focused traders such as Hellofresh or Zalando came under pressure by up to 3.9 percent. But also in the health sector, corona profiteers such as Merck, Siemens Healthineers or Sartorius were sent downhill with up to 4.1 percent. This went hand in hand with falling prices on the US technology exchange Nasdaq.
While the oil price rally continued on Monday for fear of a fuel crisis, the prospect of future government participation by the Greens, conversely, lured investors into renewable energies. Siemens Energy, for example, rose by 3.3 percent as the DAX front-runner. In the SDax, Encavis picked up even more at 4.7 percent: The wind power and solar park operator announced a takeover of wind farms in France.
Since, in turn, a red-red-green coalition at the federal level is off the table, real estate stocks were also among the winners. Vonovia shares defied the Berlin referendum for the expropriation of large real estate groups with an increase of 1.8 percent. The company also reported progress in acquiring Deutsche Wohnen, which now holds a majority stake in the competitor.
In the MDax, the shares of K + S were the clear favorite in the end with a price jump of 5.8 percent. They were fueled by a Bank of America dropping sell recommendation. As analyst Alexander Jones wrote, the potash company is about to see a drastic improvement in terms of cash development.
A new offer in the bidding competition for Zooplus caused the shares of the online pet supplies retailer to rise by 4.3 percent. With 470 euros per share, the financial investor EQT now outbids the recently raised offer from competitor Hellman & Friedman. The market bet on something even more, the shares closed at 485.60 euros.
In the SDax, the shares of Klöckner & Co got going after a further increase in the annual profit target with a price increase of almost eight percent. The opposite was the case with the shares of the laser specialist LPKF: After a capped outlook, they fell by 4.2 percent.
On the European stage, the EuroStoxx 50 selection index held its own with 0.17 percent plus, it went out of trading at 4165.48 points. The leading indices in Paris and London both closed moderately in the profit zone. In the US, the Dow Jones Industrial rose 0.4 percent from the weak Nasdaq stock market.
The euro was last traded at $ 1.1703. The European Central Bank (ECB) set the reference rate at 1.1698 (Friday: 1.1719) US dollars. The dollar cost 0.8548 (0.8533) euros.
On the bond market, the current yield rose from minus 0.32 percent on Friday to minus 0.29 percent. The Rex bond index fell 0.10 percent to 144.31 points. The Bund future was last up 0.01 percent at 170.22 points.
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.
