Frankfurt Stock Exchange
Dax directionless – Delivery Hero with price jump
The Dax is the most important stock index in Germany. Photo: Fredrik von Erichsen/dpa
© dpa-infocom GmbH
The Dax showed no direction on Monday. After a friendly start, the leading German index turned negative. At lunchtime, the percentage remained unchanged at 14,446.37 points. An emerging friendly stock market start in the US supported.
The Dax showed no direction on Monday. After a friendly start, the leading German index turned negative. At lunchtime, the percentage remained unchanged at 14,446.37 points. An emerging friendly stock market start in the US supported.
The raw material and energy prices, which have risen sharply as a result of the Ukraine war, and increased supply chain disruptions remain the main factors that are putting pressure on export-heavy German companies, as market expert Andreas Lipkow from Comdirect said. And the inflationary dynamics fueled in this way are also fueling speculation about interest rate hikes by the European Central Bank (ECB).
The leading eurozone index, the EuroStoxx 50, fluctuated between slight gains and losses and recently rose by 0.18 percent to 3925.58 points. The MDax, the index of medium-sized companies on the German stock exchange, gained 0.50 percent to 31,347.81 points.
“The demands for a complete energy boycott against Russia, with certainly manageable but massive economic effects for Europe and especially the German economy, are getting louder. And when the economy is in recession, investors have never been well advised to buy shares,” wrote capital market strategist Jürgen Molnar from Robomarkets.
Among German individual stocks in the Dax, the Delivery Hero shares attracted the attention of investors with a price jump of 10.0 percent. The delivery service provider wants to be profitable in 2023 for the first time at group level in the operative business. J
Bayer were also among the Dax favorites with a plus of 2.3 percent. The agrochemical and pharmaceutical group made progress with the development of its new anticoagulant and possible Xarelto successor Asundexian.
The focus was also on the wind turbine manufacturer Nordex, which was the target of a cyber attack. The disruption was noticed early on and countermeasures were initiated immediately, it said. The stock fell by 3.6 percent in the SDax, bringing it up the rear.