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ROUNDUP / Aktien Frankfurt opening: recovery paused – Deutsche Bank weak

Wednesday, 10/27/2021 9:44 AM from

dpa-AFX

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The skyline of Frankfurt behind the city center. © typhoonski / iStock / Getty Images Plus / Getty Images

FRANKFURT (dpa-AFX) – After two strong trading days, the German stock market took a break in the middle of the week. After all, the leading index has Dax from the most recent low three weeks ago already increased by more than six percent. The focus continues to be on the company’s quarterly reporting season, which has so far been quite convincing. In the background, however, concerns about high inflation and its possible consequences continue to smolder.


The Dax fell by a quarter of a percent to 15,718 points in early trading. The MDax, on the other hand, moved up slightly by 0.12 percent to 35,149 points. The leading Eurozone index EuroStoxx 50 was moderately in the red.

Despite the recent price strength, the general mood “continues to show a noticeable uncertainty and indecision on the part of market participants,” wrote analyst Martin Utschneider from the private bank Donner & Reuschel. The decisive factor here is not least the sharp rise in yields on federal and US bonds. “In addition to the current inflationary pressure, this also exacerbates concerns about rising interest rates in Europe and the USA,” said Utschneider.

With Deutsche Bank , BASF (BASF Share) and puma three DAX companies had published quarterly figures before the market. The reaction was disappointing for the shares of Deutsche Bank: They lost almost five percent as the bottom of the Dax. At the financial institution, analysts criticized the spending, which was higher than expected in the third quarter.

At BASF, even higher annual targets for sales and profit could not drive the course, it stepped on the spot. The new, higher forecast for operating profit only confirms market expectations, noted a trader.

On the other hand, the messages from Puma were well received. The rival of Adidas (adidas share) was more optimistic about the current year. JPMorgan’s Grace Smalley spoke of a “strong third quarter” in a difficult environment. Puma gained three percent at the top of the Dax.

The shares of K + S gained 3.7 percent at the top of the MDax. The French investment house Kepler Cheuvreux considers a doubling of the price of the fertilizer manufacturer possible. Covestro (Covestro share) increased by 1.4 percent. The investment bank Goldman Sachs (Goldman Sachs share) brought the plastics manufacturer up for discussion in a study as a candidate for a takeover.

On Friday there is also a change in the Dax. Because of the takeover of the Deutsche Wohnen real estate group by Vonovia Deutsche Wohnen leaves the Dax and becomes Beiersdorf replaced. Its place in the MDax the insurance group Talanx takes the medium-sized values a. Its share price rose by almost three percent./bek/jha/

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