The Dax lost ground slightly on Monday after its strong gains on Friday. In the first few minutes of trading, the German benchmark index rose a little, then the momentum was lost for the time being. Most recently, the Dax fell by 0.34 percent to 15,635.15 points compared to the previous day’s close.
The Dax lost ground slightly on Monday after its strong gains on Friday. In the first few minutes of trading, the German benchmark index rose a little, then the momentum was lost for the time being. Most recently, the Dax fell by 0.34 percent to 15,635.15 points compared to the previous day’s close.
The MDax recently fell 0.11 percent to 34,739.27 points. The leading Eurozone index EuroStoxx 50 even fell by almost half a percent to 4049.28 points.
The shares of the chemical and pharmaceutical company Bayer lost 0.8 percent, although the drug Finerenone received US approval for the treatment of patients with chronic kidney disease or type 2 diabetes. Admission was already expected. Bayer continues to focus on the US legal dispute, which has not yet been resolved, over alleged cancer risks of weed killers containing glyphosate.
On the other hand, Volkswagen shares are on a better path, with a 0.9 percent increase from their low since mid-March. Thanks to strong key data, they were already up by six percent on Friday. After the stock market closed, the contract extension with CEO Herbert Diess was announced on Friday. According to a stockbroker, this means that some uncertainty about future corporate governance is giving way to the share.
The trend was very different for other auto stocks. Daimler were among the biggest Dax losers on Monday with 1.6 percent, the BMW titles fell 0.6 percent. Because of the global delivery bottlenecks for semiconductors, Daimler again suspended production at the Sindelfingen plant. In this regard, Volkswagen was able to score, the shortage of chips had surprisingly little influence on the Wolfsburg-based half-year figures.
More in demand among the DAX values - as across Europe – were the energy values on Monday. Above all, the papers of RWE advanced by 1.7 percent, while those of Siemens Energy and Eon each rose by around 0.6 percent. For Siemens Energy, the British bank HSBC raised the price target to 38 euros.
Outside of the most important DAX indices, Medigene shares caused a sensation with a price jump of 8.6 percent. At the biotech company, Berenberg analyst Xian Deng praised the promising T-cell therapies for treating certain types of tumors in an initial assessment published on Monday. She therefore recommended the shares to buy.
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.
