Investors on the German stock market continue to exercise caution ahead of important economic dates this week. After its positive start to the week, the Dax fell by 0.48 percent to 15,724.93 points by midday on Tuesday following mixed ZEW economic data.
Investors on the German stock market continue to exercise caution ahead of important economic dates this week. After its positive start to the week, the Dax fell by 0.48 percent to 15,724.93 points by midday on Tuesday following mixed ZEW economic data.
The MDax of medium-sized stocks recently fell by 0.55 percent to 27,053.62 points. The Eurozone leading index EuroStoxx 50 lost 0.38 percent to 4238.20 points.
Price slide at Oracle
A price slide at the US software company Oracle affected the shares of its German competitor SAP – with a loss of 2.6 percent, the shares were among the biggest DAX losers. The Americans disappointed the market with slowing growth in the cloud business in the last quarter. At SAP, a trader now spoke of profit-taking after the shares had gained around a third this year.
While MTU shares remained under pressure at minus 4.7 percent and Airbus at minus 1.8 percent after the recent price slide, numerous analyst comments were moving. At lunchtime, Rheinmetall was at the top of the DAX with a 1.4 percent premium; the shares benefited from a positive comment from Deutsche Bank. With a new price target of 300 euros, analysts still see plenty of room for improvement for the arms company’s shares.
Beiersdorf and Henkel asked
The consumer goods manufacturers Beiersdorf and Henkel took opposite directions: Beiersdorf papers were among the DAX favorites with around 0.8 percent growth, while the competitor fell by a good 1.3 percent. At Henkel, a canceled positive vote from Exane BNP Paribas was the deciding factor. In contrast, two analysis houses, the French bank and Jefferies, praised Beiersdorf.
In the MDax, the shares of the meal kit delivery company Hellofresh were in demand following a positive assessment from the US bank JPMorgan. They were recently quoted almost five and a half percent higher.
Meanwhile, the papers from the packaging specialist Gerresheimer were in last place in the average value index. With a recent seven and a half percent discount, they continued the decline from the recently reached high.
Source: Stern
