Frankfurt Stock Exchange
Dax takes a breather after recovering
The Dax is the most important stock index in Germany. Photo: Fredrik von Erichsen/dpa
© dpa-infocom GmbH
After the significant recovery in the previous week, the German stock market took a break on Monday morning. The Dax was down 0.06 percent in the morning at 14,403.83 points.
After the significant recovery in the previous week, the German stock market took a break on Monday morning. The Dax was down 0.06 percent in the morning at 14,403.83 points.
The MDax of medium-sized stock exchange groups increased by 0.13 percent to 31,645.38 points. The leading eurozone index, the EuroStoxx 50, stagnated at Friday’s level.
In the previous week, the Dax profit had added up to almost 6 percent. Most recently, the leading German index had recovered from the interim low of 12,438 points reached in the course of the Ukraine war by up to 17 percent to 14,553 points.
Among the individual values, the shares of SAP were in focus with a loss of 2.3 percent. Europe’s largest software manufacturer has to look for a new CFO: Luka Mucic will leave the company at the end of March 2023. The Mucic departure should be seen as a rather negative signal. However, the fact that he will stay for another year should soften the reaction from the stock market, a trader commented in the morning.
The major VW shareholder Porsche SE wants to pay its shareholders more dividends for the past year. For each preferred share, EUR 2.56 is to be paid out for the past financial year, after EUR 2.21 for 2020. Holders of ordinary shares are to receive EUR 2.554 for each certificate held – this corresponds to an increase of 35 cents. According to a broker, more was expected on the market. Porsche SE shares rose by 0.3 percent.
Hannover Re benefited from the inclusion of the shares in the Dax and immediately took the lead in the leading index with a price increase of 2.2 percent. For the papers of the truck manufacturer Daimler Truck, which was split off from the former Daimler Group, and which are also new to the Dax, it went up by 0.3 percent. The shares of Beiersdorf and Siemens Energy had to be removed from the Dax for the two values.
After a two-year freeze on dividends due to the corona virus, the steel manufacturer Salzgitter wants to give shareholders a direct share of the profits again. A dividend of 75 cents per share is to be paid for the 2021 financial year. The payout is the highest since 2008 and is also significantly higher than experts had expected. Shares advanced 2.8 percent after the announcement.
In the SDax, the papers of the Austrian IT service provider S&T also jumped by 9.0 percent. Despite a foreseeable loss of sales in Russia due to the Ukraine war, the company is somewhat more optimistic about the current year. S&T wants to partially compensate for the expected drop in sales in the country with additional orders related to cyber security and armaments.