In a continued difficult environment, the DAX initially stabilized on Monday morning. In the first hour of trading, the leading German index rose by 0.45 percent to 14,753.54 points. A week ago it had fallen to its lowest level since March at 14,630 points.
In a continued difficult environment, the DAX initially stabilized on Monday morning. In the first hour of trading, the leading German index rose by 0.45 percent to 14,753.54 points. A week ago it had fallen to its lowest level since March at 14,630 points.
The MDax of medium-sized companies advanced by 0.82 percent to 23,967.06 points in the morning. The Eurozone leading index EuroStoxx 50 rose by 0.5 percent.
High interest rates and geopolitics with the Gaza war at the center continue to pose the greatest threats to the stock markets. Safe havens such as gold, which currently costs around $2,000 an ounce, are in demand. The stabilization of share prices is on shaky ground given the continued threat of a conflagration in the Middle East, emphasized Jürgen Molnar, capital market strategist at RoboMarkets.
In the afternoon, the publication of inflation figures from Germany for October attracts attention. Positive news has already come from Spain on the subject of inflation: consumer prices there rose less sharply than expected in October.
Siemens Energy recovered again at the top of the DAX by around ten percent. This was preceded by a price drop of more than 35 percent last Thursday following the news of billions in guarantees that the ailing energy technology company wants from the federal government. However, Siemens Energy supervisory board chairman Joe Kaeser emphasized in an interview in “Welt” that the talks with the federal government were only about guarantees, not about a cash injection.
At the bottom of the Dax, Merck KGaA lost almost five percent. Some analysts lowered their price targets for the shares of the pharmaceutical and specialty chemicals company. The recovery in the semiconductor solutions business is being delayed, according to analysis firm Jefferies.
Reclassifications also left their mark: Societe Generale now recommends buying the shares of the engine manufacturer MTU, the price rose by 1.3 percent. Jenoptik gained a good five and a half percent after a buy recommendation from the investment house Stifel. UBS changed its vote to “Sell” for the shares in the automotive and industrial supplier Schaeffler, and the shares then fell by six and a half percent.
Source: Stern
