In the difficult environment, the Dax stabilized on Monday. Around midday, the leading German index rose by 0.44 percent to 14,752.42 points. A week ago it fell to 14,630 points, and investors are keeping an eye on this lowest level since March. Given the continued threat of a conflagration in the Middle East, stabilization is on shaky ground, as Jürgen Molnar, capital market strategist at RoboMarkets, emphasized.
In the difficult environment, the Dax stabilized on Monday. Around midday, the leading German index rose by 0.44 percent to 14,752.42 points. A week ago it fell to 14,630 points, and investors are keeping an eye on this lowest level since March. Given the continued threat of a conflagration in the Middle East, stabilization is on shaky ground, as Jürgen Molnar, capital market strategist at RoboMarkets, emphasized.
The MDax of medium-sized companies advanced by 0.91 percent to 23,987.65 points on Monday. The Eurozone leading index EuroStoxx 50 rose by 0.5 percent.
On the corporate side, things are still relatively quiet at the start of an eventful week with many quarterly reports, central bank decisions and the US labor market report. When you look at the calendar in the afternoon, the publication of the 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 at the top of the DAX by almost seven 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 more than four 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, and the price rose by a good two percent. According to a recommendation from the investment house Stifel, Jenoptik gained six and a half percent. UBS changed its vote to “Sell” for the shares of the automotive and industrial supplier Schaeffler, and the shares fell by almost six and a half percent.
The shares of the diagnostics specialist Stratec extended their price gains from Friday and rose by a good ten percent. The focus here is on progress in margins. This was also emphasized by analyst Alexander Galitsa from Hauck Aufhäuser Investment Banking.
Source: Stern
