The German stock market was missing positive drivers at the start of the new week. The leading index DAX fell by 0.49 percent to 16,622.22 points on Monday. It therefore remained in the trading range between 16,450 and 16,850 points, in which it has moved for most of the time since the beginning of the year. The MDax of medium-sized stocks lost 1.18 percent to 25,987.69 points in the generally gloomy environment at the beginning of the week.
No impulses came from the USA. Wall Street was closed for the Martin Luther King Day holiday.
In view of vague takeover speculation in the banking industry, Commerzbank rose by 0.8 percent in the Dax. Deutsche Bank shares fell 0.9 percent and ABN Amro shares rose 1.1 percent. As the Bloomberg news agency wrote on Friday after the stock market closed, citing people familiar with the matter, Deutsche Bank has recently increasingly discussed possible takeovers, including names of European banks such as Commerzbank and ABN Amro. However, it is standard practice for companies to constantly examine acquisitions and is not a signal that this has to happen.
Continental shares rose by a good one percent at the top of the DAX following a recommendation from JPMorgan Bank. Analyst Jose Asumendi sees potential for profitability through austerity measures. He therefore considers the securities of the car supplier and tire manufacturer to still be cheaply valued despite the price increase in recent months.
Papers from European food suppliers, on the other hand, were clearly under pressure. Analyst Andrew Gwynn from Exane BNP Paribas poured fuel on the already weak industry sentiment with a negative study. Hellofresh fell by a good four percent and Delivery Hero fell by almost seven percent at the end of the MDax.
Compugroup’s shares shot up by almost seven percent after a buy recommendation from Berenberg Bank, making them one of the biggest winners in the SDax small cap index. The price correction of the software manufacturer’s shares last year was exaggerated, it was said.
The Eurozone leading index EuroStoxx 50 fell by 0.57 percent to 4,454.68 points. The Cac 40 in Paris and the FTSE 100 in London fell by a similar amount.
The euro rose: The European Central Bank set the reference rate at 1.0945 (Friday: 1.0942) US dollars. The dollar therefore cost 0.9136 (0.9139) euros.
On the bond market, the current yield rose from 2.18 percent on Friday to 2.19 percent. The Rex bond index fell by 0.03 percent to 126.24 points. The Bund future fell by 0.36 percent to 135.21 points.
