Frankfurt Stock Exchange
Dax at the start of trading with a moderate loss
The Dax is the most important share index in Germany. Photo: Fredrik von Erichsen / dpa
© dpa-infocom GmbH
The German stock market started the new week with moderate losses. The Dax traded 0.36 percent lower at 15,151.51 points in early trading.
The German stock market started the new week with moderate losses. The Dax traded 0.36 percent lower at 15,151.51 points in early trading.
The MDax of the medium-sized stock market values lost 0.24 percent to 33,329.06 points. The EuroStoxx 50, the leading index for the Eurozone, fell by around 0.4 percent.
Among the individual stocks, the shares of Morphosys stood out in early trading with a price gain of 5.1 percent. The biotech company and its development partner Roche can hope for an early approval of the Alzheimer’s drug candidate gantenerumab in the USA. Should Roche be able to bring the drug onto the market, Morphosys will share in the sales success.
The shares of the Adler Group lost 1.0 percent. The real estate group, which recently got into difficult waters, wants to sell more than 15,000 residential units with a valuation of almost 1.5 billion euros to LEG Immobilien. Adler is to retain a good 10 percent stake in the real estate portfolio. The Adler papers had fallen to a record low of a good 9 euros the previous week after a stock market speculator had reported their accounts, but were able to recover to 12 euros at the end of the week.
The Teamviewer titles were among the weakest MDax values with a minus of 0.9 percent. The US investment bank Morgan Stanley downgraded the shares of the provider of software for remote maintenance and video conferencing and lowered its target price from EUR 48.00 to EUR 18.50. Teamviewer papers collapsed last week as a result of a profit warning and are currently trading below the bank’s new price target.