Before important US inflation data, investors on the German stock market did not lean too far out of the window at the start of the week. In early trading, the Dax rose by 0.23 percent to 15,343.19 points. On Friday, the leading German index lost around 1.4 percent and ended a volatile week with a discount of a good one percent. The MDax gained 0.16 percent on Monday morning to 28,439.20 points. The leading eurozone index, the EuroStoxx 50, rose by around 0.4 percent. The focus is already on the release of US consumer prices on Tuesday and producer prices on Thursday.
Before important US inflation data, investors on the German stock market did not lean too far out of the window at the start of the week. In early trading, the Dax rose by 0.23 percent to 15,343.19 points. On Friday, the leading German index lost around 1.4 percent and ended a volatile week with a discount of a good one percent. The MDax gained 0.16 percent on Monday morning to 28,439.20 points. The leading eurozone index, the EuroStoxx 50, rose by around 0.4 percent. The focus is already on the release of US consumer prices on Tuesday and producer prices on Thursday.
The shares of the armaments companies Rheinmetall and Hensoldt stood out positively from the overall market with clear price gains. The armaments industry is putting pressure on the federal government in view of the lack of orders from the 100 billion euro special fund for the Bundeswehr. For Rheinmetall, it was enough for a record high with a price increase of 1.6 percent. Hensoldt increased by 1.7 percent to the highest level in almost a year.
On the other hand, according to an analyst study, the shares of Siltronic fell behind with minus 4.8 percent. The private bank Berenberg had downgraded the title of the wafer manufacturer from “Buy” to “Hold”. Analyst Gustav Froberg sees increasing risks for Siltronic’s short-term results in view of weaker demand for consumer electronics.
The shares in the metal recycler Befesa, which brought up the rear in the MDax, were hit even worse by 7.1 percent. They also suffered from a gradation. Morgan Stanley analysts downgraded their rating from overweight to equal-weight.
The shares of the copper group Aurubis, on the other hand, rose by 1.7 percent as the MDax leader after Morgan Stanley upgraded them from “underweight” to “equal weight”.
Source: Stern
