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Entertainment DAX clings to profits - "Bargain hunters on the prowl"

18:15  23 september  2020
18:15  23 september  2020 Source:   finanzen.net

Progress in the fight against coronavirus: DAX closes over 13,000 point mark

 Progress in the fight against coronavirus: DAX closes over 13,000 point mark At the start of the new trading week, investors on the German stock market were positive. © Provided by Finanz.net Thomas Lohnes / Getty Images The DAX started the session stronger and built on the price plus so that it was able to jump the psychologically important 13,000 mark. Ultimately, it came back a little from the daily high and closed 2.36 percent higher at 13,066.54 points. The fact that the fight against the corona pandemic is gaining momentum has a supportive effect.

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In the middle of the week, the German benchmark index is clearly in the profit zone.

Andrew Burton/Getty Images © Provided by Finanz.net Andrew Burton / Getty Images

The DAX showed a premium of 1.13 percent to 12,737.32 points at the start of the bell. The German benchmark index can expand its profits even further. In the meantime, he made the jump over the 12,800 point mark. Currently it is still gaining 1.35 percent to 12,764.67 units.

Unexpectedly robust economic data from the industry pushed the recovery of the DAX further on Wednesday.

On Monday, the fear of the rising wave of corona infections hit the stock markets badly. The DAX had lost more than four percent.

DAX posts shaky profits

 DAX posts shaky profits On Wednesday the DAX made some gains in the meantime. © Provided by Finanz.net TANNEN MAURY / AFP / Getty Images The DAX started the trading day 0.15 percent lower at 13,041.83 points. In the meantime, however, the leading German index has moved into green territory and gained 0.31 percent to 13,101.50 points. In the short term, however, it went back to zero.

Shoppers are out in force looking for the best deals of the holiday season.

In a business combination, bargain purchase occurs when the fair value of net assets of the acquiree exceeds the purchase consideration paid by the acquirer plus fair value of any noncontrolling interest. The difference is recognized as a gain by the acquirer. It is also called negative goodwill.

"After the brilliant price slide on Monday, bargain hunters are still on the prowl," wrote market expert Timo Emden from Emden Research. In addition, there was good news from German industry in the course of the morning. Here the corporate sentiment had surprisingly brightened significantly. "The manufacturing industry remains the bright spot," wrote Thomas Gitzel, chief economist at VP Bank . In Germany, the mood in industry is as good as it was two years ago. Catch-up effects and the reactivation of international supply chains are currently stimulating the industry.

Despite all the joy about it, according to Gitzel, it should not be forgotten that the switch to the electric car is a profound turning point for the European industrial location. The expert therefore also found warning words: "It can be assumed that the purchasing managers' index for the manufacturing industry has reached the end of the flagpole for the time being." Finanzen.net / dpa-AFX

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