The Dax slipped back below 16,000 points on Monday. Investors became a little more cautious at recent levels, with inflation data from the US and Europe on the agenda in the coming days. In the end, the DAX fell by 0.39 percent to 15,966.37 points. It had come within a few points of Friday’s high of 16,041 points.
The Dax slipped back below 16,000 points on Monday. Investors became a little more cautious at recent levels, with inflation data from the US and Europe on the agenda in the coming days. In the end, the DAX fell by 0.39 percent to 15,966.37 points. It had come within a few points of Friday’s high of 16,041 points.
The MDax lost 0.38 percent to 26,114.02 points on Monday. On the European stage, the EuroStoxx 50 fell by 0.4 percent, while there were also losses in London and Paris. In New York, the stock markets were also subdued on the shopping day “Cyber Monday”.
Profit-taking at the defense company Rheinmetall after the latest record rally pushed its share price down by 3.3 percent at the end of the Dax. BASF and Bayer shares were similarly big losers, with sales of more than three percent each.
BASF suffered from a critical study by the US bank Morgan Stanley. Structurally higher costs in Europe pose challenges to the chemical company’s Verbund concept and profitability in the short and medium term, said analyst Charles Webb, justifying the downgrade to “Underweight”. It will therefore become increasingly difficult for BASF to meet its commitments for growth, dividends and decarbonization.
Bayer shares fell again to their lowest level since 2006. There was downward pressure, especially in closing trading, due to a report from the Bloomberg news agency. Citing sources, it said that teams of experts had looked at scenarios of a possible split in a strategy simulation – with the result that comprehensive changes in the ailing German group would not be easy.
Among the bright spots were Beiersdorf’s shares, which briefly passed the 130 euro mark for the first time. Ultimately, the increase here was 0.4 percent, similar to that of DHL. According to a reform proposal from the Federal Ministry of Economics for the outdated postal law, the time pressure for letter delivery should be significantly reduced. This enables massive savings in the Post & Parcel division, commented analyst Johannes Braun from the investment house Stifel.
The euro was last traded at $1.0933. The European Central Bank had meanwhile set the reference rate slightly higher at 1.0951 (Friday: 1.0916) US dollars. The dollar therefore cost 0.9131 euros.
As on Friday, the current yield on the bond market was 2.66 percent. The Rex bond index rose by 0.02 percent to 123.89 points. The Bund future gained 0.68 percent to 131.25 points.
Source: Stern
