Market report
Status: 09.07.2021 9.45 a.m.
Yesterday, the DAX had its worst trading day since May 19. At the end of the week, the German standard values can initially make up some ground. But is that enough?
At the start of trading, the DAX is initially on a recovery course: At the start, the German standard values are 0.5 percent higher at 15,498 points. The day before, they had slumped 1.7 percent to 15,421 meters. In doing so, they broke the downward trend established at the end of January. The slide below the key mark of 15,500 points is also heavy.
Delta worries on the stock market
Only a quick and, above all, sustained advance across this mark would now significantly brighten the technical prospects for the DAX. Should the German benchmark index fail in this endeavor at the daily closing price, there is a risk of a slide in the direction of 14,800 points.
Newly flared fears of a new corona wave are putting pressure on investors’ buying mood. Above all, the rapid spread of the particularly contagious Delta variant is causing investors increasing concern, as this could lead to new restrictions.
The tourism industry threatens the next blow
The great danger: The global economy, which is currently recovering from the first corona waves, could be stalled again. The charts for tourism and aviation stocks are already reflecting this risk, as the TUI share price has clearly moved away from its spring high.
Today the industry is threatened with the next blow: According to a media report, the federal government wants to classify all of Spain as a corona risk area and even declare Cyprus a high incidence area.
Wall Street interrupts record rally
Meanwhile, the course of trade on Wall Street is a little encouraging. The US stock exchanges could not escape the global market weakness on Thursday. However, the Dow managed to roughly halve its minus over the course of the year. The Nasdaq’s technology indices, which were particularly weak at first, also made up a lot of ground again in the end.
The Nasdaq 100 finally went 0.6 percent lower at 14,722 points from trading. The Dow Jones Industrial closed 0.8 percent in the red at 34,422 points. The market-wide S&P 500 fell in the end by 0.9 percent to 4321 points. In the morning the US futures are trading slightly in positive territory.
Nikkei goes into the weekend with losses
At the end of the week, negative guidelines for equity trading in Europe come from Asia. The markets in Asia are falling to a two-month low and at the same time delivering the worst weekly record since February. At the close of trading in Tokyo, the Japanese Nikkei index was 0.6 percent lower at 27,940 points.
Fears central banks could stifle the economic recovery by trying to contain inflation, and the fast-spreading delta variant of the coronavirus has spoiled investors’ buying mood.
The euro is trading a little lower in early forex trading at $ 1.1833. By the middle of the week, the European common currency had dropped to a three-month low of $ 1.1781. The troy ounce of gold fell slightly to $ 1802.
Countermovement with oil
At the end of the week, oil prices started a countermovement and posted profits. A barrel (159 liters) of the North Sea Brent costs $ 74.35 in the morning, 0.7 percent more. Oil prices fell sharply over the course of the week. At its peak, the losses were about six dollars.
The rapid spread of the delta variant caused economic fears on the oil market. Another reason is the uncertainty about the future course of the oil alliance OPEC +, which was unable to agree on a common production policy by the end of the year.
VW boss Diess before contract extension until 2025
In the DAX, the VW share moves into focus in the morning. After two attempts, the contract of VW CEO Herbert Diess (62) could now be extended ahead of time. Volkswagen’s supervisory board will discuss a four-year contract until October 2025 at a meeting on Friday, said two people familiar with the events of the Reuters news agency.
BioNTech / Pfizer rely on booster vaccination
The BioNTech share could also be worth a look today. BioNTech and its partner Pfizer assume that the protective effect of the joint coronavirus vaccine will decrease after six months. Based on the data available so far, it is likely “that a third dose will be required within six to twelve months after the full vaccination”. Pfizer plans to apply for emergency approval for a third dose of the corona vaccine Comirnaty in the United States as soon as possible.
Airbus delivers significantly more jets in June
The aircraft manufacturer Airbus again handed over more jets to its customers in June and won new orders. With 77 machines, the number of deliveries was well above the 50 units in May. At the same time, the group received orders for 73 commercial aircraft despite the Corona crisis. Of these, 70 are going to the US airline United. The cancellations were kept within narrow limits with two machines.
Synlab raises prognosis
The booming business with corona tests makes the laboratory service provider Synlab even more optimistic for the current year. The management is aiming for sales growth of up to a quarter to 3.2 to 3.3 billion euros in 2021. So far, there has only been talk of more than 3.0 billion. In addition to various tests for the SARS-CoV-2 virus, Synlab also has numerous other offers relating to laboratory diagnostics, for example for clinics and doctors.
Ottobock on course for the stock market
The Lower Saxony prosthesis group Ottobock, in which the Swedish financial investor EQT got involved four years ago, will, according to insiders, tackle an IPO worth billions in the coming year. Several people familiar with the plans told the Reuters news agency that the company was in the process of mandating investment banks to assist Ottobock with the issue.
Levi Strauss takes off again
The US jeans group has benefited from increased demand for clothing as workers return to the office. For the second quarter, Levi Strauss posted adjusted earnings of 23 cents per share after a loss of 48 cents in the same period last year. Analysts, on the other hand, had only expected nine cents per share. Net sales increased from $ 497.5 million to $ 1.28 billion.