The Dax has given way slightly after its recent recovery rally. The reporting season took a short break at the beginning of the week and there was hardly any important data from the economy.
The leading German index ended the day with a loss of 0.35 percent to 15,135.97 points. However, the start to the month of November was strong: last week the Dax rose by almost three and a half percent.
The MDax fell by 0.91 percent to 24,908.68 points. In Europe, the EuroStoxx 50 fell by 0.38 percent to 4158.64 points. The French Cac 40 also fell moderately, while the British FTSE 100 practically stagnated. In the USA, the most important stock exchanges rose moderately.
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German industry received more orders in September than in the previous month; analysts had on average expected a decline. On the corporate side, the specialty chemicals group Lanxess surprisingly came into focus.
Due to weaker than expected demand, management again cut the outlook for operating profit and wants to cut the dividend. As one of the weakest stocks in the MDax, the share lost 6.1 percent.
In the SDax, the shares of the wind farm developer PNE jumped by 3.0 percent due to vague speculation about interest in buying. This makes them one of the best values ??in the SDax index of smaller values.
Otherwise, it was mainly analyst comments that were moving. Bankhaus Metzler recommends selling after the recent strong recovery of Vonovia shares. Analyst Jochen Schmitt expects operating profit to fall in the medium term. The real estate company’s paper lost 5.4 percent at the end of the Dax. Aroundtown’s shares, which have recovered significantly since the end of October, even fell by almost 13 percent in the SDax over the course of the day. However, there was nothing concrete here.
In the MDax, K S shares suffered from a sell recommendation from UBS and lost 6.7 percent. Analyst Priyanka Patel misses earnings momentum in both the short and longer term. There are no signs of rising prices for the fertilizer company in 2024.
Siemens gained 0.9 percent at the top of the DAX. They were rated “Outperform” by the investment bank Oddo BHF and an increased price target of 152 euros.
The euro rose, trading at $1.0745 early in the evening. The European Central Bank set the reference rate at 1.0741 (Friday: 1.0702) US dollars. The dollar therefore cost 0.9310 (0.9344) euros.
On the bond market, the current yield on German federal bonds fell from 2.72 percent on Friday to 2.70 percent. The Rex bond index rose by 0.11 percent to 124.30 points. The Bund future recently fell by 0.70 percent to 129.62 points.
