The German economy is trembling before the lockdowns return. Many investors therefore sell their shares at the end of the week. The Teamviewer share suffers particularly heavy losses – for a very surprising and unusual reason.
NAfter the Dax record high from the previous day, profit-taking and corona worries weighed on the German stock market on Friday . The leading index was down 1.4 percent in the afternoon to 14,568 points. On Thursday he went out of trading for the first time with a record closing price of 14,775 points.
On the last trading day of the week, there was one special thing to note: It was a rare day on which numerous option trades expire on important stock market indices. On such a witch’s sabbath, the prices usually fluctuate strongly. However, the historic Dax mark of 15,000 points is further in the distance after the losses at the end of the week.
The German economy
On the previous days, the Fed’s commitment to a continued expansionary monetary policy had spurred share prices. The Volkswagen shares were conspicuous with particularly high profits, which even made the carmaker the most valuable DAX company ahead of the software group SAP. With gains of around 3 percent, VW shares were still strong on Friday.
On the other hand, Teamviewer fell negative with a crash of more than 11 percent. The newcomer to the stock exchange and successful specialist in remote computer maintenance is considered the winner of digitization and home office . But on Friday the company revised its profit forecast downwards because a sponsorship deal with the top football club Manchester United is costing it dearly. The M-Dax value is thus heading for the highest daily loss in its company’s history.
In contrast, Delivery Hero and the real estate groups Deutsche Wohnen and Vonovia shine in the Dax . Covestro, Deutsche Bank and the aircraft turbine manufacturer MTU are at the bottom of the benchmark index.
The stock market trend is also down on Wall Street. The Dow Jones, S&P 500 and Nasdaq indices fell by up to one percent each after opening. The technology share index Nasdaq then rebounded slightly.