The German stock market has stabilized after its recent losses. The leading index DAX recently stagnated at 15,718.08 points.
The German stock market has stabilized after its recent losses. The leading index DAX recently stagnated at 15,718.08 points.
On a weekly basis, the Dax was heading for a fairly moderate decline of around 0.8 percent. Overall, the stock market barometer continues to search for direction ahead of the upcoming monetary policy decisions by major central banks.
The MDax of medium-sized stocks rose by 0.16 percent to 27,204.21 points on Friday. The Eurozone leading index EuroStoxx 50 rose by 0.18 percent.
“The interest rate decisions of the European Central Bank and the US Federal Reserve next week and the week after next cast their shadows,” wrote the analysts at Landesbank Hessen-Thüringen. In terms of the economy and inflation prospects, the picture is mixed on both sides of the Atlantic. In Germany and Europe in particular, economic prospects have recently deteriorated, while inflation rates appear to have passed their peak but have not yet fallen significantly.
In Germany, inflation remains stubbornly above the 6 percent mark despite another decline. In August, consumer prices were 6.1 percent higher than in the same month last year, as calculated by the Federal Statistical Office. The Wiesbaden authorities thus confirmed their estimate.
“The inflation rate remains at a high level,” said the President of the Federal Statistical Office, Ruth Brand. “Price increases for food and energy are above overall inflation and are keeping the inflation rate high.”
Among the individual stocks on the stock market, assessments by the private bank Berenberg on the prospects for various car stocks attracted attention. The expert Romain Gourvil expressed his confidence about the preference shares of Volkswagen (VW). The opportunity/risk profile is now more attractive. The securities are trading at a cyclical low and short-term risks are sufficiently priced in.
Gourvil is now more skeptical about the shares of Porsche AG. The demand for luxury remains robust, but still cyclical. The expert currently prefers Mercedes-Benz shares to Zuffenhausen shares for valuation reasons and in view of what will probably be a somewhat unstable second half of the year.
VW shares rose by 0.2 percent. Porsche AG shares fell slightly, while Mercedes-Benz shares rose 0.2 percent.
Analyst praise from US investment bank Bank of America boosted CTS Eventim shares. The ticket marketer’s shares shot up by a good five percent, making it the clear winner in the MDax.
Source: Stern
