Stock exchange in Frankfurt: Dax cannot keep initial profits

With the tailwind from the US stock exchanges, the German stock market continued its winning streak of the young year on Monday. However, the Dax was unable to maintain its solid plus at the beginning of trading and was only 0.13 percent higher at 15,053.84 points. The MDax for medium-sized companies rose by 0.81 percent to 28,707.79 points. The EuroStoxx 50, the leading index in the euro zone, rose by around 0.2 percent. In the new week, the reporting season for companies is picking up speed.

Among the individual values, the shares of the Dax group Symrise moved into the focus of investors. An impairment on a stake in Sweden eroded the flavor and fragrance manufacturer’s profit in 2022. The operating result (Ebitda) fell by a good two percent. Nevertheless, Symrise promised to “maintain an attractive dividend policy” for 2022. Sales increased significantly thanks to acquisitions and higher sales prices. The papers fell to their lowest level in more than three months and were last listed 8.1 percent in the red.

The shares of Secunet Security Networks rose by 1.8 percent despite the missed earnings target (EBIT) for 2022. In terms of sales, however, the IT security service provider achieved a record value and exceeded the target set by the management. The fourth quarter in particular once again provided momentum.

Salzgitter’s shares rose by 1.1 percent. The steelmaker plans to cut around 500 to 800 jobs by 2033. In the course of the conversion of production to more climate-friendly processes, fewer employees will be needed in the future, CEO Gunnar Groebler told the “Braunschweiger Zeitung” on Sunday. The jobs could be “reduced over time in a socially acceptable way just by using the age pyramid”.