The Dax hardly moved from the spot in early trading on Friday. With minus 0.25 percent to 15,949.64 points, the round mark of 16,000 points remains in focus. Yesterday’s gains in the US weren’t much of a support. In the course of the week, the Dax currently has a loss of around half a percent. The MDax of medium-sized companies fell by 0.31 percent on Friday to 27,097.63 points. The EuroStoxx 50 fell by 0.17 percent to 4290.21 points.
The Dax hardly moved from the spot in early trading on Friday. With minus 0.25 percent to 15,949.64 points, the round mark of 16,000 points remains in focus. Yesterday’s gains in the US weren’t much of a support. In the course of the week, the Dax currently has a loss of around half a percent. The MDax of medium-sized companies fell by 0.31 percent on Friday to 27,097.63 points. The EuroStoxx 50 fell by 0.17 percent to 4290.21 points.
Among the individual values, chemical stocks in the Dax and MDax suffered from the profit warning from the British specialty chemicals group Croda, for which, according to the analysis company Bernstein, “all main business areas bear some responsibility”. The weak outlook is now fueling concerns across the industry, as Croda expects inventory reductions to continue in industrial and consumer-related end markets, among other things. In addition, a weakening development in the crop protection business is expected.
As the weakest shares in the leading index, Symrise lost 3.0 percent, BASF 1.5 percent and Bayer and Brenntag a little more than one percent. Evonik, K+S and Wacker Chemie each lost around two percent.
The focus was also on the two SDax companies Auto1 and Shop Apotheke. An updated, very positive outlook from the US used car platform Carvana helped the Auto1 share price to rise by 4.5 percent.
The papers of the shop pharmacy lost 4.5 percent. The British bank HSBC commented negatively on the mail-order pharmacy’s papers and downgraded them from “Hold” to “Reduce”. However, the price target was raised from 55 to 72 euros after the recent strong recovery. At the same time, analyst Christopher Jonen raised the shares of competitor DocMorris from “hold” to “buy”. According to him, the valuation gap between the two stocks has reached “extreme proportions”.
Source: Stern
