After seven record highs in a daily succession, the latest winning streak on the Dax was broken at the start of the week. Today the leading German index closed 0.11 percent lower at 17,716.17 points. The MDax of medium-sized companies lost 0.51 percent to 25,987.37 points.
There are some important dates and events coming up this week. For example, US Federal Reserve Chairman Jerome Powell will speak to the US Congress, the People’s Congress is taking place in China and the US labor market data for February will be published on Friday.
Things were mostly up on Europe’s most important stock exchanges. The EuroStoxx 50, the leading index for the euro zone, gained 0.37 percent to 4912.92 points. The Paris Cac 40 gained around 0.3 percent, while the London FTSE 100 lost around 0.6 percent. On Wall Street, the Dow Jones Industrial was recently down 0.2 percent.
Among the individual stocks at the top of the Dax, MTU shares more than made up for their price losses on Friday with a gain of 2.7 percent. Several analysts had raised their price targets for the engine manufacturer’s shares.
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Henkel’s preferred shares, on the other hand, temporarily fell to their lowest level since October and ended two percent in the red. The consumer goods group expects exchange rate-related headwinds in 2024, which, according to traders, should lead to reductions in the average analyst estimate for earnings per share.
In the MDax, Evonik shares rose by 0.2 percent. The specialty chemicals company is entering the new year cautiously.
Nordex gained 1.9 percent and benefited from a study by Bank Santander. This raised the wind turbine manufacturer’s shares to “Outperform” and sees an upward potential of 40 percent for the paper.
Aixtron, the top stock in the MDax, gained 4.0 percent. After the almost 20 percent drop in prices on Thursday, the shares remained on a recovery path. Two investment houses, the US bank Jefferies and the British Barclays Bank, cut their price targets, but continue to recommend buying the chip industry supplier’s shares.
Among the values in the SDax, Norma Group shares rose by 6.8 percent. Analyst Christian Glowa from Hauck Aufhäuser IB upgraded the share to “Buy” and, last but not least, referred to the water management business, the equity value of which alone is already above the company’s current total market value.
The euro rose slightly and was last trading at $1.0861. The European Central Bank set the reference rate at $1.0846 in the afternoon.
On the bond market, the current yield fell from 2.46 percent on Friday to 2.43 percent. The Rex bond index rose by 0.13 percent to 125.11 points. The Bund future rose by 0.08 percent to 132.84 points.