The price recovery on the German stock market largely fizzled out on Monday. After a strong trading performance in the morning, the gains in the Dax increasingly melted away.
The price recovery on the German stock market largely fizzled out on Monday. After a strong trading performance in the morning, the gains in the Dax increasingly melted away.
Despite robust economic data, the US stock exchanges got off to a slow start and therefore did not provide any further upward impetus. In the end, the leading German index was still 0.52 percent higher at 13,186.07 points. The MDax for medium-sized stocks rose by 0.75 percent to 27,153.44 points.
Among the individual values on the German stock market, Bayer shares recovered, despite new negative news, and rose by 2.8 percent. Just last week they fell to a two-year low. The agar chemical and pharmaceutical company failed in the long-term legal dispute over alleged glyphosate cancer risks with another appeal to the US Supreme Court.
The shares of CTS Eventim came under pressure in the MDax. With a minus of 7.2 percent, they were by far the worst MDax value and also fell to their lowest level since the beginning of March. Berenberg analyst Gerhard Orgonas referred to possible competition from Spotify. The audio streaming service has reintroduced its live event locator feed. The in-app function now arouses fears that Spotify could sooner or later start selling tickets itself – and thus also compete with CTS Eventim.
On the other hand, Nordex stocks, which recently dropped out of the SDax, went up by 5.9 percent. The wind power group raises new capital through a private placement with its Spanish anchor shareholder Acciona. A dealer spoke of an “urgently needed commitment” by the Spaniards to their Hamburg participation.
Reclassifications by analysts also caused movement. The shares of the forklift manufacturer Kion gained 4.2 percent after a positive analyst assessment from Morgan Stanley. Biotech company Morphosys’ shares rose 7.6 percent after a positive study by Oddo BHF. Teamviewer, meanwhile, fell 1.8 percent after JPMorgan downgraded the software maker’s shares.
Zalando continued their recovery from the low since 2014 on Monday. The fashion retailer’s shares temporarily cost more than 26 euros again after falling to 20.94 euros on Friday morning in response to a profit warning.
The recovery was more difficult on the European stage. The leading index EuroStoxx 50 was almost on the spot with an increase of 0.16 percent at 3538.88 points. In Paris, the Cac 40 was slightly down, while the FTSE 100 was up in London. In the US, the Dow Jones Industrial was slightly up at the end of trading in Europe. The tech-heavy Nasdaq indices fell at the same time.
The euro rose again above 1.06 US dollars and cost 1.0605 US dollars in the evening. The European Central Bank set the reference rate at 1.0572 (Friday: 1.0524) dollars on Monday. The dollar thus cost 0.9459 (0.9502) euros.
On the bond market, the current yield rose from 1.36 percent on Friday to 1.40 percent. The Rex pension index fell by 0.41 percent to 132.56 points. The Bund future also went downhill, slipping 0.95 percent to 146.32 points in the evening.
