Partly significant price gains on the Asian stock exchanges supported the German stock market on Monday. The leading index Dax increased by 0.15 percent to 15,864.11 points by the early afternoon, after having risen a little more significantly in the morning. Overall, trading was calm, as Wall Street is closed for a holiday and there is therefore a lack of stimulus from the USA.
Partly significant price gains on the Asian stock exchanges supported the German stock market on Monday. The leading index Dax increased by 0.15 percent to 15,864.11 points by the early afternoon, after having risen a little more significantly in the morning. Overall, trading was calm, as Wall Street is closed for a holiday and there is therefore a lack of stimulus from the USA.
The MDax for medium-sized titles rose by 0.48 percent to 27,945.14 points. The Eurozone leading index EuroStoxx 50 gained 0.35 percent.
Speculations on an end to rate hikes
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.
Despite the price gains at the beginning of the week, the Dax continues to move in its proven “ping-pong zone” between 15,750 and 16,000 points, Molnar continued. “There is simply a lack of the necessary impetus to lift the index from this anchoring.”
Auto values stabilized again
Across Europe and also in Germany, car values stabilized after the price slide on Friday. Volkswagen (VW) preferred stock gained 0.3 percent and BMW stock gained 0.7 percent. Mercedes-Benz shares rose by 1.1 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 0.8 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.
Borussia Dortmund clear tail light
The shares of Borussia Dortmund dropped by more than five percent and were the clear bottom of the SDax small-cap index. At the weekend, BVB gave up a victory they thought was certain against promoted team 1. FC Heidenheim and slipped down to ninth place in the Bundesliga table. At the debut of the newly signed Bundesliga top scorer Niclas Füllkrug, Dortmund only managed to draw 2-2 (2-0) against Heidenheim despite a lightning start. That spoiled the mood of investors before the international break.
The euro was last traded at $1.0798. The European Central Bank had fixed the reference rate on Friday at 1.0844 (Thursday: 1.0868) dollars.
In bond trading, the current yield rose from 2.50 percent on Friday to 2.58 percent. The Rex pension index fell by 0.18 percent to 124.35 points. The Bund future fell by 0.26 percent to 131.96 points.
Source: Stern
