Frankfurt shares: Lockdown worries slow down Dax slightly

FRANKFURT (dpa-AFX) – Uncertainty about a possible renewed lockdown in Germany hit investors’ record mood on Friday. The Dax (DAX 40) gave up its early gains and has since been hovering around its previous day’s close. The rise in producer prices, on the other hand, had hardly been able to slow down the leading index, although the price increase was more pronounced than expected and was also as violent as it was 70 years ago.

At lunchtime, the German stock market barometer rose by 0.08 percent to 16,209.02 points, which is currently a weekly plus of 0.7 percent. On Thursday it had crowned its almost seven-week rally with another high of 16,290 points before slight profit-taking began. His gain over this period is now just over 9 percent from the October 6 low.

At the end of the week, the MDAX of medium-sized stock exchanges fell by 0.22 percent to 35,886.93 points. The leading Eurozone index EuroStoxx 50 (EURO STOXX 50) lost 0.33 percent.

“The worries about the further progress in relation to the corona pandemic are a burden,” said market expert Andreas Lipkow from Comdirect. Correspondingly, the shares of the classic “stay-at-home winners” could benefit from this again. Correspondingly cyclical companies such as MTU (MTU Aero Engines), Volkswagen (Volkswagen (VW) vz) / Porsche SE (Porsche SE Vz) or Airbus (Airbus SE (ex EADS)) would be on the losing side.

The last three fell in the Dax by around two percent each. MTU lost 3.4 percent in the Dax and suffered from a target price reduction by Bank of America. The major US bank praised the engine manufacturer’s growth targets announced on the day before the capital market, but cut its estimates because of company comments about the medium-term margins in the spare parts and maintenance business.

Delivery Hero (Delivery Hero), Zalando and HelloFresh, on the other hand, gained between 3.3 and 5.7 percent as top values ​​in the Dax. The situation was similar in the MDax, where Lufthansa or Fraport, as losers in the corona crisis, lost 3.5 percent and 5.10 percent, while the shares of the software manufacturer TeamViewer at the top of the price list rose by 4.0 percent.

Flatexdegiro (flatexDEGIRO) gained almost eleven percent in the SDAX. In the meantime it has become known that the boss of the online broker, Frank Niehage, and CFO Muhamad Said Chahrour have invested significantly in their own shares through their companies. In addition, the US bank Goldman Sachs has confirmed its positive investment assessment for the Flatexdegiro papers after the announcement that it intends to introduce commission-free trading in the Degiro division. / Ck / mis

— By Claudia Müller, dpa-AFX —


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