Dax closes in plus – investors remain optimistic
The dax ended trading on thursday with a strong 1.98 percent gain to 12.568.09 points. Thus, it closed only slightly below its daily high reached shortly before.
The high losses from the previous week, when new corona lockdowns were decided, have thus been virtually made up for. Since its low last friday at 11.450 numbers, the german benchmark index has already gained more than 1100 points again. On the penultimate trading day of the week, the mdax index of 60 mid-cap stocks gained 0.95 percent to 27.Up 498.94 points.
Although it is still not clear who will be the next U.S. President, investors remained relaxed. The chances for challenger joe biden were considered somewhat rougher than those of incumbent president donald trump in the evening. Legal disputes loom, however, after conclusion of payouts.
Especially if the republicans retained the majority in the senate, investors could live quite well with biden as the new president, commented analyst milan cutkovic from broker axi. In addition, new economic downturns were allowed to occur in the near future, regardless of which president was in power. In addition, the U.S.-china trade conflict was allowed to defuse somewhat.
The euro zone’s leading index, the eurostoxx 50, gained 1.72 percent to 3215.56, and paris was also up sharply. In london, the gain was much more moderate. Investors in the USA also demonstrated composure in the wake of the U.S. Election. After strong gains earlier in the day, the dow jones industrial rose 2.0 percent at the european stock market close. Technology-heavy nasdaq indices rose even more sharply.
Heidelbergcement’s figures cause stock prices to rise and fall. On the one hand, the figures were very well received by analysts. On the other hand, they worry about the sustainability of the business development. Shares ultimately gained 1.3 percent.
By contrast, munich re shares fell by 3.3 percent at the end of the dax after quarterly figures. The reinsurer still does not want to give a profit forecast for 2020. Linde did things differently: the industrial gases group has come through the corona pandemic better than expected so far and has now raised its annual targets. Shares rose by 5.7 percent.
At the top of the dax, the shares of crisis winner and food supplier delivery hero continued their triumphant march with renewed share price records. In the end, they left the day with a gain of 8.1 percent. Over the year, delivery is by far the best-performing stock in the leading index, with a price gain of almost 63 percent, while the dax recorded a loss of around 5 percent. The company has not yet found its way into the black, and it will not succeed in doing so this year either.
In the mdax, commerzbank shares were in second-to-last place, down 5.8 percent, following the presentation of quarterly figures. The index top took the papers from prosiebensat.1 with plus 8.9 percent. The media group’s advertising revenues are gradually recovering, and prosieben has managed to return to the black.
In addition, the share price of the IT service provider S&T, which raised its forecast, rose by 6.3 percent in the sdax small cap index. Bose wacker neuson was hit after the construction equipment manufacturer postponed its medium-term targets: shares slumped 5.0 percent.
The euro traded at 1.1828 U.S. Dollars in the early evening. The european central bank set the reference rate this afternoon at 1.1855 (wednesday: 1.1721) dollars. The dollar thus cost 0.8435 (0.8532) euros. On the bond market, the current yield rose from minus 0.65 percent the day before to minus 0.64 percent. The pension index rex fell by 0.04 percent to 146.64 points. In the evening, the bund future lost 0.01 percent to 176.32 points.
