Market report
Status: 10/6/2021 7:43 a.m.
Even today, the DAX has to fight for the 15,000 point mark. Although the US stock exchanges closed in positive territory in the evening, investors are still worried about a bundle of worries.
The DAX is unlikely to reach yesterday’s closing level this morning. According to pre-market indications, the leading index will start trading at 15,100 points, which corresponds to a minus of 0.5 percent compared to yesterday’s Xetra close.
On Wall Street, tech stocks in particular had led a small recovery movement. The recovery was supported by better-than-expected sentiment data from the service industry. However, market observers see no sign of a pronounced further catch-up race in the rising prices. The recovery was largely driven by the particularly weak technology stocks recently, which is why the market will continue to suffer, it said. In addition, the uncertainties surrounding the payment difficulties of the Chinese real estate giant Evergrande persist. The Dow rose 0.92 percent to 34,315 points. The S&P 500 gained 1.1 percent to 4,346 points. For the technology-heavy Nasdaq 100 it went up 1.40 percent to 14,674 points.
In Asia, in addition to ongoing concerns about the Chinese real estate industry, the continued high oil price is also depressing sentiment. Shortly before the close of trading, the Nikkei index, comprising 225 values, was 0.9 percent lower at 27,586 points. In China, the stock exchanges are closed due to a public holiday.
On the foreign exchange market, the euro slipped again below the $ 1.16 mark. Early in the morning, the common currency was trading at $ 1.1588. Oil prices remain at their highest levels for several years. A barrel of North Sea Brent costs $ 82.45 in the morning. The troy ounce of gold is priced at $ 1,753.
Cryptocurrencies are in demand again this morning. In the morning, Bitcoin cracked the $ 50,000 mark for the first time in four weeks. A sell-off in cryptocurrencies had pushed the oldest and largest cyber currency down to $ 40,596 in September. “The Fed’s commitment to cryptocurrencies is grist to the mill of investors,” said analyst Timo Emden from the analysis service of the same name. US Federal Reserve Chairman Jerome Powell had promised to regulate digital currencies, but not to ban them.
The Internet group Facebook now has to deal with allegations about its business policy after the data breach. Facebook boss Mark Zuckerberg has rejected allegations by a former employee that the world’s largest social network is fueling its users’ anger out of profit. “We make money from ads, and advertisers keep telling us that they don’t want their ads to be seen alongside harmful or angry content.” He doesn’t know of any tech company that makes products that make people angry or depressed.
In the DAX, the Deutsche Telekom share could be in the spotlight in the morning. The stock had already given way in late trading yesterday. It had previously become known that the US investment bank Goldman Sachs wanted to throw a billion-dollar package of Telekom shares on the market overnight. The 90 million shares valued at 1.58 billion euros are part of a transaction with the Japanese technology investor Softbank, who only bought the Bonn telecommunications giant at the beginning of September. A Telekom spokesman emphasized that nothing would change in Softbank’s 4.5 percent stake in the Bonn company.
Bayer has won a legal victory in the United States for the first time in the dispute over the allegedly carcinogenic weed killer glyphosate. A California court found that the drug was not a substantial cause of cancer in a child. A lawyer for the plaintiffs said they were considering an appeal. The ruling is the fourth of its kind related to the compound known under the brand name Roundup. Bayer lost in the previous three. The group had brought the glyphosate lawsuits in 2018 in the 63 billion dollar acquisition of Mosanto in the house.
The demand for corona tests over the summer is boosting the business of Europe’s largest laboratory chain Synlab more than expected. The turnover this year with 3.5 billion euros is expected to be a good third above the previous year, announced Synlab on Tuesday evening in Munich. The operating result will also be higher than expected in 2021, announced the company, whose largest shareholder is the financial investor Cinven. Synlab is now assuming an adjusted Ebitda of more than one billion euros – that is an operating return on sales of 30 percent. Cinven had put Synlab on the stock exchange in the spring. Synlab has been listed in the SDax index for small values for a good two weeks.