In view of the concerns about the Chinese real estate market, investors in Germany are acting cautiously today. The most important share indices moved only slightly. The Dax recently increased by 0.21 percent to 15,865.94 points. The MDax for medium-sized companies fell by 0.37 percent to 27,980.08 points. The Eurozone leading barometer EuroStoxx 50 fell slightly.
In view of the concerns about the Chinese real estate market, investors in Germany are acting cautiously today. The most important share indices moved only slightly. The Dax recently increased by 0.21 percent to 15,865.94 points. The MDax for medium-sized companies fell by 0.37 percent to 27,980.08 points. The Eurozone leading barometer EuroStoxx 50 fell slightly.
In the past few days, the crisis in real estate developer Country Garden, which is in financial difficulties, has intensified in China. It symbolizes the crisis in the Chinese real estate market, whose boom over many years has ensured brisk demand from numerous companies in the construction, metal and chemical industries. That has now reversed.
Covestro shares were clearly ahead in the Dax with an increase of 4.4 percent to 48.59 euros. According to insiders, the oil company Abu Dhabi National Oil may want to dig deeper into its pockets in the takeover gamble for the plastics group. The Arab company had verbally offered the Leverkusen group an increase in the offer to EUR 60 per share, reported the Bloomberg news agency, citing people familiar with the matter.
At the end of the MDax, the shares of TAG Immobilien, which had recently performed very well, fell by 4.7 percent after even falling by a good 9 percent in early trading. In view of a devaluation of the real estate portfolio, the group made a loss in the first half of the year, but confirmed its annual targets.
The euro was last traded at $1.0916. The European Central Bank had fixed the reference rate on Friday at 1.1004 (Thursday: 1.1019) dollars. The dollar thus cost 0.9088 (0.9075) euros. On the bond market, the current yield rose from 2.58 percent on Friday to 2.63 percent. The Rex pension index fell by 0.21 percent to 123.99 points. The Bund future rose by 0.02 percent to 131.40 points.
Source: Stern
