Entertainment Dax still under pressure
Stock market rush: reason to cheer or dangerous bubble?
As if unleashed, the stock markets are currently racing upwards. Record after record follows on many stock exchanges. The world's most famous stock market barometer - the American Dow Jones Industrial - now has around 32,400 points. © Frank Rumpenhorst / dpa The Dax curve in the trading room of the Frankfurt Stock Exchange on the large board. The German leading index Dax was at around 14,600 points, higher than ever before. The severe economic slump last year? To forget.
Rising yields on US government bonds caused another setback on the German stock market on Friday.
Right at the start of trading, the Dax fell back below the 14,000 point mark. The current rise in interest rates in the US, triggered by vague and generally calm statements by US Federal Reserve Chairman Jerome Powell the previous evening, is now again inhibiting interest in stocks.
The Dax fell in early trading by 1.17 percent to 13,892.50 points. However, this still shows a plus of 0.8 percent over the course of the week. The MDax of medium-sized companies fell 1.31 percent to 30,900.32 points on Friday. The leading Eurozone index EuroStoxx 50 lost 1.13 percent in the morning to 3662.87 points.
Dax remains in a record mood
The Dax continued its record hunt on Wednesday. The German leading index rose above the mark of 14,500 points and ultimately gained 0.71 percent to the level of 14,540.25 points. © Fredrik von Erichsen / dpa The Dax is the most important stock index in Germany. In contrast, stocks from the second row showed no clear trend. The MDax of medium-sized companies closed with a slight minus of 0.17 percent at 31,571.28 points.
"The rising interest rates remain the big nightmare on the stock exchanges," said portfolio manager Thomas Altmann from QC Partners. The yield on ten-year US bonds rose to just under 1.55 percent the evening before after the recent calm in the bond markets. The trigger was the words of Fed Chairman Powell. He had spoken cautiously about the rise in capital market rates and simply said:
Among the individual values, RWE took the lead with a plus of 0.5 percent. On the one hand, Deutsche Bank added the “Buy” rating and a price target of 35 euros. The "RWEnewables" are attractive, wrote analyst Olly Jeffery, alluding to the new focus of Essen on renewable energies. RWE is on the way to becoming the leading global wind power provider at sea with decades of growth opportunities.
car manufacturer: IG Metall warns of warning strikes at VW
After the third round of negotiations on a new company tariff, the union expects a warning strike. VW, however, insists on “cost discipline” in view of the crisis. © dpa In view of the corona crisis and high investments, the car manufacturer urges the union to "cost discipline".
On the other hand, the "Frankfurter Allgemeine Zeitung" reports, citing government circles, that the accelerated nuclear phase-out in 2011 is now apparently having an impact on the federal budget and the energy suppliers received 2.4 billion euros to compensate for lost remaining terms and profits. Eon also reacted slightly positively and fell by a below-average 0.5 percent.
Infineon and VW also held up somewhat better than the overall market, with losses of 0.8 percent each. For VW there was news that the Spanish state wanted to build a battery factory with the local Volkswagen subsidiary Seat and the energy company Iberdrola. Industry Minister Reyes Maroto said the first plant of this kind in Spain should be built near Seat's Matorell site near Barcelona.
Infineon were supported by the numbers of the US semiconductor company Broadcom. This surprised positively with its figures for the first quarter of business and its outlook for the second.
Scout24 rose in the MDax by a moderate 0.2 percent. This was supported by a positive comment from the Canadian analysis company RBC. Analyst Wassachon Udomsilpa raised the share of the online portal operator to «Outperform». The price setback of 20 percent since November offers a good entry opportunity, he wrote.
The papers of the drug researcher Evotec lost 3.8 percent and suffered from the cancellation of a buy recommendation by the US bank Citigroup.
Telekom share stable pre-trading: Deutsche Telekom better than expected in fourth quarter .
Thanks to the acquisition of Sprint in the US, Deutsche Telekom AG once again achieved impressive growth in the fourth quarter, exceeding analyst forecasts. © Provided by Finanz.net DANIEL ROLAND / AFP / Getty Images But the DAX group also grew organically solid on this side of the Atlantic. The operating profit is expected to increase further in 2021.