Positive indications from overseas and optimism about several German companies gave the Dax a boost on Monday. The majority of the market is now assuming that the US Federal Reserve will initially pause interest rates this week. At lunchtime, the leading German index rose by 0.75 percent to 16,069.06 points. The MDax of medium-sized companies rose by 0.55 percent to 27,303.37 points and profits were also booked throughout Europe.
On the company side, the shares in Adidas and Rheinmetall in particular, but also VW shares, went up in the Dax. Upgraded to “Outperform” by the analysis firm Bernstein, the shares of the sporting goods manufacturer Adidas gained 5.0 percent at the top of the leading index. Rheinmetall gained 2.6 percent and benefited from optimistic statements by CEO Armin Papperger about the upside potential of the shares.
Volkswagen gained 1.9 percent. Dealers referred to a “Handelsblatt” article with details on a corporate restructuring. In its report, the business newspaper refers to an unnamed top manager. CEO Oliver Blume will present the plan to the supervisory board on Tuesday, it said.
Analysts’ comments and a satirical television program provided impetus for various stocks below the Dax.
Hensoldt moved below the MDax leaders with a plus of 5.0 percent. Analyst Aymeric Poulain from Kepler Cheuvreux now recommends buying the defense electronics manufacturer’s shares. At the end of the MDax, the shares of CTS Eventim fell by 7.6 percent, even if there was still a plus of 10 percent over the course of the year. On Friday evening, TV satirist Jan Böhmermann put the event marketer and ticket dealer through the wringer in his show “ZDF Magazin Royale”.
