The collapse in Bayer shares pushed the Dax into the red at the start of the week. Although the majority of the 40 DAX stocks rose, the leading German index ended trading on Monday 0.11 percent lower at 15,901.33 points. Last week it benefited from the return of interest rate optimism and increased by around 4.5 percent.
The collapse in Bayer shares pushed the Dax into the red at the start of the week. Although the majority of the 40 DAX stocks rose, the leading German index ended trading on Monday 0.11 percent lower at 15,901.33 points. Last week it benefited from the return of interest rate optimism and increased by around 4.5 percent.
The MDax of medium-sized companies rose by 0.42 percent to 26,394.86 points on Monday and moderate profits were also recorded across Europe and in the USA. “Apart from the bad news from Bayer, the news situation was calm,” said market expert Andreas Lipkow, summing up the trading day in this country.
Bad news for Bayer
At times, Bayer shares fell by a little more than 20 percent to their lowest level in 17 years. The day ended with a loss of 18 percent, as bad news from two divisions was causing problems for the agar chemicals and pharmaceutical company. In addition to a low blow in the glyphosate dispute in the USA, the termination of the clinical trial with the promising drug Asundexian was particularly shocking.
The Aurubis shares held the red lantern in the MDax with minus 3.6 percent. The investment bank Oddo BHF no longer sees any price drivers for the copper producer’s shares and has therefore lowered its investment rating from “Outperform” to “Neutral”.
In contrast, the shares of SAF-Holland reached a high since the summer of 2021 with a plus of 5.8 percent to 13.95 euros following a buy recommendation from Bank Warburg.
The Eurozone index EuroStoxx 50 gained a moderate 0.04 percent to 4342.41 points and the national stock exchanges in Paris and London also closed close to their closing levels on Friday. In the USA, the Dow Jones Industrial recently rose by 0.3 percent. The Nasdaq 100 rose somewhat more significantly and reached its highest level in almost two years.
The euro rose to its highest level against the US dollar since mid-August on Monday. In the early evening the common currency cost 1.0943 dollars. The European Central Bank set the reference rate at 1.0928 (Friday: 1.0872) dollars. The dollar therefore cost 0.9150 (0.9198) euros. On the bond market, the current yield rose from 2.54 percent on Friday to 2.61 percent. The Rex bond index fell by 0.20 percent to 124.31 points. The Bund future recently fell by 0.24 percent to 130.70 points.
Source: Stern
