The German stock market continued its recent winning streak on Monday. The Dax rose in early trading by 0.63 percent to 14,553.44 points.
The German stock market continued its recent winning streak on Monday. The Dax rose in early trading by 0.63 percent to 14,553.44 points.
The MDax for medium-sized companies rose by 1.30 percent to 30,135.56 points. The leading eurozone index, the EuroStoxx 50, rose by around 0.9 percent. On Friday, the Dax recorded a weekly increase of around three and a half percent. The stock market barometer had also overcome the downward trend that had been going on since January last week.
The experts at Credit Suisse see the optimism of investors strengthened by the latest company results and US economic data and spoke of a “relief rally”. Hopeful news is also coming from China: In Shanghai, most of the lockdown measures are to be lifted from this Wednesday.
Among the individual values, the shares of Siemens were at the top of the Dax with an increase of 3.3 percent. According to the company, the industrial group received the largest order in the company’s 175-year history. Together with two partners, a contract has been signed in Egypt for the construction of a 2,000-kilometer high-speed train network. According to this, Siemens alone has an order value of 8.1 billion euros.
Buy recommendations from Kepler Cheuvreux supported the attempts by IT service providers Cancom and Bechtle to bottom out. Cancom papers climbed to a four-week high and most recently gained 3.0 percent to 37.78 euros. Bechtle rose by 2.5 percent to 42.74 euros. Analyst Martin Jungfleisch gave price targets of 50 euros for Cancom and 55 euros for Bechtle. Thanks to the expected growth in earnings, the share buybacks and takeover fantasies, the relationship between opportunities and risks is attractive at Cancom. Bechtle deserves a certain rating bonus, added the analyst.
Instone’s shares suffered from a downgrade by Credit Suisse and fell by 1.8 percent as the SDax tail light. Analyst Emily Biddulph justified her more negative assessment with uncertainties about high inflation and real estate demand.
