The Dax recovered significantly on Friday from its setback from the previous day. Around noon, the leading index rose by 0.84 percent to 15,550.60 points, making up for a large part of its losses.
The Dax recovered significantly on Friday from its setback from the previous day. Around noon, the leading index rose by 0.84 percent to 15,550.60 points, making up for a large part of its losses.
The swing market thus continued. Over the course of the week, the Dax is currently down by 0.6 percent. At lunchtime, the MDax was up 1.05 percent at 34,711.76 points. The leading Eurozone index EuroStoxx 50 gained 1.35 percent.
The good news for the Dax the day before was that the trading range of the past seven weeks had continued and the buyers had come back at the lower end of the trading range, at 15,300 points, said portfolio manager Thomas Altmann from QC Partners. “It will now be exciting to see whether the point at which the buying interest sets in remains constant or whether it shifts further downwards.” In any case, a slight nervousness could be felt among the investors, but no panic whatsoever.
The day before, the rolling course had increased somewhat and the downward pressure increased. At times, the Dax had dropped to 15,304 points, the lowest level since mid-May. For the year as a whole, the most important German index is still slightly more than 13 percent up.
Wall Street also went down a little on Thursday at a high level. The Nasdaq’s technology indices, which were particularly weak at the beginning, ultimately made up a large part of their ground again. Given the recovery in corporate results, the market strategists at the major Swiss bank Credit Suisse are still betting on equities, despite already high valuations. At the same time, government bonds will continue to be underweighted.
On the German stock market, the music played again mainly in the second row. The shares of Airbus were among the top values in the MDax with a plus of 4.2 percent. Compared to the previous month, the aircraft manufacturer handed over more jets to its customers in June and also brought in more new orders. In addition, Goldman Sachs is now even more positive for the share and has reaffirmed it on the “Conviction Buy List” for particularly promising stocks. The bank raised its target price from 135 to 147 euros, justifying this by stating that Airbus would emerge stronger from the corona crisis with a view to profitability and the inflow of funds.
Hugo Boss rose by 3.5 percent to the highest level since autumn 2019. In the course of the year so far, the papers of the fashion company have quietly blossomed into the darling of investors: With a price increase of around 80 percent, the Boss share is currently in the 60th index medium values the one with the greatest profit.
The automotive supplier and tire manufacturer Continental announced in the morning that it wanted to accelerate its growth in China with a new development center for software. The first software and IT experts should start their work in the metropolis of Chongqing by the end of 2021. After three loss-making trading days in a row in the Dax, the share now rose by 1.2 percent.
A more confident assessment of the Canadian bank RBC for Deutsche Bank ensured an increase of 2.5 percent to 10.442 euros for this share. In view of the bank’s recent progress – also on the subject of sustainability – analyst Anke Reingen no longer sees any reason for a critical stance. It upgraded the share to “Sector Perform” with a retained price target of EUR 11.
The booming business with corona tests gave the newcomer Synlab even more confidence for the current year. The Munich laboratory service provider referred on Thursday evening to a surprisingly high level of business dynamics around Sars-Cov-2. The share rose 3.4 percent.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
