After the recent recovery rally, investors are taking it easy. While the reporting season took a short break at the beginning of the week, the necessary impetus was missing to keep the German stock market going. It was said among stock market investors that the recently noticeable hope of an end to the spiral of interest rate increases had initially played out.
After the recent recovery rally, investors are taking it easy. While the reporting season took a short break at the beginning of the week, the necessary impetus was missing to keep the German stock market going. It was said among stock market investors that the recently noticeable hope of an end to the spiral of interest rate increases had initially played out.
The increase of almost three and a half percent in the previous week was initially only managed by investors on Monday, but around midday the Dax was moderately in the red. Most recently it fell by 0.27 percent to 15,149 points. At the same time, the MDax was 0.14 percent lower at 25,101 points.
The reporting season paused in the morning, and Lanxess only surprised around midday with a share price slide due to adjusted targets for the full year and a proposed cut in the dividend. After an initial, even more intense price slide, the share price was recently discounted by 3.4 percent.
In addition, investors had to look elsewhere for ideas when selecting the stocks they wanted at the beginning of the week. It was mainly analyst comments that moved individual stocks.
The shares of Vonovia, for example, were recommended for sale by Bankhaus Metzler after their recent dynamic recovery. They ended their rally, driven by interest rate hopes, to a high since February with a setback of 3.1 percent. Analyst Jochen Schmitt expects the operating result (FFO) to decline moderately in 2024.
In the MDax, K+S shares suffered from a sell recommendation from UBS, although high initial losses have recently decreased somewhat to 3.8 percent. Analyst Priyanka Patel misses earnings momentum in both the short and longer term. There are no signs of rising prices for the potash company in 2024.
The major Swiss bank has abandoned its previous buy recommendation for Heidelberg Materials, which impacted the shares of the building materials group in the Dax by 2.3 percent.
The list of price-relevant analyst reclassifications went even further: upgrades at BMW and Siemens had a positive effect, with price gains close to one percent.
Source: Stern
