Stock market in Frankfurt
Dax treads on the spot
The Dax is the most important share index in Germany. Photo: Fredrik von Erichsen / dpa
© dpa-infocom GmbH
After the setback at the beginning of the week, the Dax stabilized somewhat on Tuesday: a good hour after the start of trading, the leading German index was down 0.02 percent at 15,471.96 points.
After the setback at the beginning of the week, the Dax stabilized somewhat on Tuesday: a good hour after the start of trading, the leading German index was down 0.02 percent at 15,471.96 points.
The MDax of medium-sized listed companies rose 0.11 percent to 34,427.31 points. The leading Eurozone index EuroStoxx 50 advanced by 0.17 percent to 4158.26 points.
Software stocks in particular showed significant price fluctuations. Software AG plunged after a disappointing outlook for the important digital business with integration software by almost twelve percent – so they were lagging behind in the MDax. Key data for the third quarter showed that the company could continue to rely on the strength of the traditional database division – for this it raised the annual targets. In contrast, the important digital business with integration software still leaves something to be desired, which is why Software AG surprisingly lowered its targets for this area.
Since this is precisely the bearer of hope for growth, investors reacted negatively, commented analyst Knut Woller from Baader Bank. One trader spoke of profit-taking on the titles that have recently recovered significantly.
With the remote maintenance software specialist Teamviewer, the shareholders had to cope with price losses of more than three percent after the recent stabilization. At 13.225 euros, the shares hit a record low in the company’s two-year history.
Both the French investment bank Exane BNP Paribas and the private bank Berenberg canceled their buy recommendations for the shares, which had stabilized somewhat after heavy discounts. Temaviewer recently caused disillusionment with the margin outlook. At the beginning of the week, personnel decisions in the top management had ultimately had no positive effect.
Meanwhile, the papers of the construction software specialist Nemetschek continued their recovery rally: they rose by around two in price at the top of the MDax and reached a record high at 94.14 euros.
In the Dax, Delivery Hero’s soaring continued with a price increase of over one percent. The food supplier announced his entry into the delivery service start-up Gorillas and thus confirmed corresponding media reports.