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Stock exchange in Frankfurt: Dax with a stable start to the week and a record

Stock exchange in Frankfurt: Dax with a stable start to the week and a record

After the recent stock market party, investors on the German stock market slowed down at the start of the week. Nevertheless, the Dax achieved another record high of a good 17,460 points on Monday afternoon. Ultimately, the leading index recorded an increase of 0.02 percent to 17,423.23 points. The MDax of medium-sized stock exchange stocks, however, fell by 0.82 percent to 25,785.79 points, effectively ending at its daily low.

After the recent stock market party, investors on the German stock market slowed down at the start of the week. Nevertheless, the Dax achieved another record high of a good 17,460 points on Monday afternoon. Ultimately, the leading index recorded an increase of 0.02 percent to 17,423.23 points. The MDax of medium-sized stock exchange stocks, however, fell by 0.82 percent to 25,785.79 points, effectively ending at its daily low.

Things went down on Europe’s most important stock exchanges on Monday. The EuroStoxx 50, the leading index for the euro zone, fell by 0.2 percent to 4,872.57 points. The stock exchanges in Paris and London also posted moderate discounts. On Wall Street, the Dow Jones Industrial recently rose by around 0.1 percent.

Last week, the growth opportunities for technology companies associated with artificial intelligence fueled stock markets worldwide. This was particularly true for the US chip manufacturer Nvidia, whose shares had reached a record high following an optimistic outlook from the company.

“Setbacks should be taken into account,” warned the experts at Landesbank Helaba, justifying this primarily with the technical situation of the DAX. Inflation data could trigger a setback, noted analyst Jochen Stanzl from broker CMC Markets. Current inflation data for Germany, the Eurozone and the USA will be published later this week. They could provide clues about the further monetary policy of the European Central Bank and the US Federal Reserve.

Defense spending is driving up prices

Rheinmetall shares reached another record high in the Dax. In the end it rose by 2.8 percent. Since the beginning of the year, the markup has been around 47 percent. This means that the papers of the arms company and automotive supplier are the undisputed leader in the Dax. The prospect of increasing arms spending as a result of the war in Ukraine is driving the course ever further. Papers from the defense electronics manufacturer Hensoldt and the tank transmission manufacturer Renk each rose by more than 7 percent.

The two automotive suppliers Schaeffler and Vitesco have agreed on a provisional exchange ratio of 11.4 Schaeffler shares per Vitesco share. This is crucial for investors who still own Vitesco shares after Schaeffler’s takeover offer expired in December. Vitesco shares lost a good 11 percent, while Schaeffler shares rose by 0.6 percent.

Decline at Delivery Hero and Hellofresh

The shares of online service providers were under pressure. The shares of the food supplier Delivery Hero lost 3.8 percent. The papers of the cooking box mailer Hellofresh fell by almost 12 percent as the bottom of the MDax. A trader pointed out that the stocks should be removed from the MSCI Germany selection index as early as February 29th.

The carbon fiber specialist SGL Carbon is considering a separation from the carbon fiber and composite materials business. The prospect of income from a sale temporarily led to clear price gains, but ultimately only an increase of 0.6 percent. As on Friday, Adesso shares benefited from the IT service provider’s business figures and rose by almost 10 percent as the leader in the SDax.

The euro last cost 1.0850 US dollars. The European Central Bank (ECB) set the reference rate at $1.0852 in the afternoon.

On the bond market, the current yield fell from 2.51 percent on Friday to 2.42 percent. The Rex bond index rose by 0.52 percent to 125.37 points. The Bund future lost 0.62 percent to 132.47 points.

Source: Stern

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