The Dax hardly moves at the end of the week. Some support is coming from the USA, but corona worries are dampening the buying mood. The shareholders of the sporting goods manufacturers can look forward to it.
At the end of the week, Europe’s investors kept a low profile. On the one hand, concerns about corona due to the spread of the delta variant of the virus dampened the buying mood. However, the prospect of a surge in growth in the US, an important trading partner, prevented major price setbacks. The leading index Dax closed on Friday 0.1 percent up at 15,608 points. After months of negotiations, US President Joe Biden had announced an agreement on the planned infrastructure investments.
Construction values benefited from this in this country: In the Dax, the stocks of the building materials group HeidelbergCement rose by 1.8 percent, the construction group Hochtief gained two percent in the M-Dax. Surprisingly positive figures from US sporting goods manufacturer Nike gave the entire industry a boost. In the Dax, the titles of German rival Adidas rose by 6.4 percent, in the M-Dax, Puma shares rose by two percent. Nike’s shares soared in US trade by 15.5 percent. The Nike results are encouraging for Adidas and Puma, commented analyst Simon Irwin from Credit Suisse. The two could exceed their sales expectations. Also in demand were the papers from Hornbach, which were the favorites in the S-Dax with a plus of more than 19 percent. DZ Bank analyst Thomas Maul described the increase and clarification of the annual targets by the DIY store operator as encouraging. Above all, the increase in online sales is impressive.
On the losing side, however, was the recently very good share of Deutsche Post, which fell by almost one percent. Here the eyes were turned to the US competitor Fedex, which disappointed investors with its full-year targets.
The Fedex share fell 3.6 percent in New York.
Meanwhile, the online bicycle retailer Bike24 made a solid debut on the Frankfurt Stock Exchange. The shares rose at times by seven percent to 16.08 euros after the first price had been determined at 15.30 euros. The Bike24 shares were issued at 15 euros at the lower end of the range, which went up to 19 euros.
The Wall Street exchanges were friendly. The Dow Jones closed 0.7 percent higher at 34,437 points.