Partly significant price gains on the Asian stock exchanges gave momentum to the German stock market on Monday. The leading index Dax rose by 0.60 percent to 15,935.27 points, almost completely making up for the losses it suffered on Friday. Overall, trading was calm, as Wall Street is closed for a holiday and there was therefore a lack of stimulus from the USA. The MDax for medium-sized titles rose by 0.74 percent to 28,019.76 points. The Eurozone leading index EuroStoxx 50 rose by 0.85 percent.
Partly significant price gains on the Asian stock exchanges gave momentum to the German stock market on Monday. The leading index Dax rose by 0.60 percent to 15,935.27 points, almost completely making up for the losses it suffered on Friday. Overall, trading was calm, as Wall Street is closed for a holiday and there was therefore a lack of stimulus from the USA. The MDax for medium-sized titles rose by 0.74 percent to 28,019.76 points. The Eurozone leading index EuroStoxx 50 rose by 0.85 percent.
Capital market strategist Jürgen Molnar from the trading company Robomarkets wrote that speculation about an end to interest rate hikes in the USA after the rather mixed US labor market data had pushed the markets up in Asia. In addition, the tense Chinese real estate sector is sending slight signs of relaxation. According to media reports, the project developer Country Garden has received a payment moratorium from the creditors. First of all, the threat of the crisis spreading to the financial sector has been pushed back a bit.
Across Europe and also in Germany, car values stabilized after the price slide on Friday. Volkswagen (VW) preferred shares gained 0.7 percent and BMW shares gained 0.9 percent. Mercedes-Benz shares rose by 1.2 percent.
The industry is in focus this week with the IAA motor show in Munich. There, BMW is showing for the first time a near-series car from its all-electric “New Class”, which will be launched in 2025. One trader saw this as potentially positive for sentiment.
Among the other winners in the Dax, Siemens shares rose by a good one percent after a positive analyst comment. The expert Nicholas Green from Bernstein Research advises in the current environment to rely on companies that are active in the fields of electrical engineering as well as automation and software. This is where Siemens is most widely positioned.
Source: Stern
