Investors in Europe started the new week with increasing optimism. After the dax had gained almost two percent in early trading, the momentum abated and the leading German index moved away from its daily high. In the end it was still half a percent higher at 13,186 points.
Investment strategist Jürgen Molnar from the brokerage house Robomarkets said that fears of excessive interest rate hikes by the Fed, which could stall the US economy, are easing. Investors were also encouraged by the victory over Corona in Shanghai declared by the local authorities. The pandemic restrictions in the Chinese economic metropolis had slowed down the global economy in recent months.
Stockbrokers also followed the meeting of the G7 countries closely. On the agenda was a temporary waiver of biofuel admixtures in fuels. According to an insider, this initiative to combat rising food prices has no chance of winning a majority. The shares of the biofuel supplier Verbio then rose by 7.4 percent in the S-Dax. In the Dax, 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 and is now relying on another plaintiff for clarification. Nordex raised new capital through a private placement with its Spanish anchor shareholder Acciona. According to a dealer, Acciona is demonstrating the much-needed commitment. The share of the wind power group increased by almost six percent. The shares of Singulus Technologies collapsed by a good 14 percent. The machine builder postponed its balance sheet submission for 2020 and now has to expect special loan terminations. In New York, investors took some profits after the recent rebound. Of the Dow Jones ended trading 0.2 percent lower. Encouraging test results for Biontech’s vaccine matched to the omicron variant of the coronavirus pushed shares more than seven percent higher. DPA