Thanks to tailwinds from the USA, the Dax had practically made up for its loss by the end of trading. The leading German index closed down 0.01 percent at 15,950.76 points. Just a week ago it had reached a record high of 16,528 points. After that, there was profit-taking, which was intensified by the US credit rating downgrade by the rating agency Fitch.
The MDax for medium-sized companies ultimately fell by 0.22 percent to 28,027.25 points. The trend-setting American stock market also provided support in Europe: the leading eurozone index, the EuroStoxx 50, rose by 0.11 percent. Paris also ended up slightly higher, while London’s FTSE 100 fell moderately. The New York leading index Dow Jones Industrial was almost 0.9 percent higher at the end of trading in Europe.
“Investor minds have calmed down a bit after last week’s heavy losses,” commented analyst Konstantin Oldenburger from broker CMC Markets. What the Dax stabilization below the 16,000 point mark is worth “should only be seen later in the week, when a whole series of Dax companies open their books on Wednesday and Thursday”. The inflation data from the United States due on Thursday would probably be even more important.
Today the energy technology group Siemens Energy opened the round of numbers in the Dax. In doing so, he put the nerves of his shareholders to the test. The fact that he estimates the expected annual loss due to the already known wind power problems at 4.5 billion euros sent the shares on a rollercoaster ride. An initial slide in prices was followed by significant gains, but these did not last. Traders praised the fact that the wind power subsidiary’s burdens had finally been quantified. However, the outlook is sobering. In the end, a negative interpretation of the company’s statements prevailed: the shares closed at the end of the Dax a good six percent in the red.
The biggest loser in the MDax was the Aurubis copper group with minus 9.5 percent. Analyst Ioannis Masvoulas from the US bank Morgan Stanley emphasized that the pre-tax result only looks so good thanks to an insurance payment. On an adjusted basis, expectations were missed, as was cash flow.
At the other end of the index, Scout24 stocks increased by 5.4 percent. The online real estate marketplace impressed with the presentation of quarterly key data with a surprisingly good operating profit development and an increase in annual targets. The shares of the ticket marketer CTS Eventim followed closely, which were boosted by a new recommendation from the US bank JPMorgan.
After the lowering of the sales forecast by the telecom equipment supplier Adtran Networks (formerly Adva Optical), the shareholders of the parent company Adtran Holdings needed good nerves: Their papers fell by 19.5 percent in the SDax small-cap index. Adtran Networks stocks only lost 0.5 percent.
The euro showed little movement at last 1.0998 US dollars. The European Central Bank (ECB) had previously set the reference rate at $1.0984.
On the bond market, the current yield fell from 2.63 percent on Friday to 2.59 percent. The Rex pension index rose by 0.02 percent to 124.21 points. The Bund future lost 0.43 percent to 131.77 points.
