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MARKETS EUROPE / DAX just missed a new record high

FRANKFURT (Dow Jones) – European stock markets started trading slightly higher on Friday. After the small setback on the previous day, the sideways movement near the record high in the DAX continues. The DAX is currently up 0.3 percent to 16,267 points. In the day’s high it was already at 16,283 points and thus just missed the record high of 16,290 points. The Euro-Stoxx-50 wins 0.3 percent to 4,399 points. The news situation is extremely thin, the environment has hardly changed.

It could get exciting around noon, when the options on the European indices expire. At a base price of 16,100 points, the highest open interest in the DAX calls can be seen with a good 13,000 contracts. However, whether this position has the strength to move the market in one direction remains to be seen.

Meanwhile, inflation in Germany remains high. For example, producer prices rose sharply in October and significantly exceeded forecasts. Compared to the previous year there was an increase of 18.4 percent – the highest rate since November 1951. Economists had forecast an increase of 15.6 percent. The main cause was the price development for energy. Energy prices were on average 48.2 percent higher than in the same month last year.

With the data, the bonds came under short-term pressure, the yield on Bunds with a term of ten years rose by 1.5 basis points. The euro initially appears to have bottomed out around $ 1.13.

Corona basket is being bought again

With a view to the increasing number of infections in Germany, the shares from the so-called Corona basket are among the winners in the DAX, with Hellofresh increasing by 2.1 percent, Sartorius by 1.4 percent, Delivery Hero by 0.5 percent and Zalando by 0.3 percent.

Deutsche Telekom (-0.6%) is still looking for an option for the radio tower business. When the third quarter figures were presented, Telekom boss Timotheus Höttges said at the conference call that the group was looking at the market situation and was holding talks with partners. The group does not have to sell the business because it needs money, but wants to develop a business idea in order to be able to participate in the growth of the radio towers. Höttges has now repeated this at a conference at Morgan Stanley, according to retailers. Since the business is developing positively, a partial sale at any price is not to be expected.

Kingfisher in the red according to the interim report

Kingfisher shares are down 5.0 percent in London. According to the Citi analysts, the interim report for the third quarter was in line with expectations. Like-for-like sales on the home market as well as in France were at best slightly below estimates in a two-year comparison. Even if the start of the fourth quarter has gone well so far, it remains to be seen how possible restrictions due to the increasing corona infections will affect the respective countries, according to the trade.

The sale of the tea business Ekaterra for 4.5 billion euros to CVC Capital Partners Fund VIII, which has been announced for some time, is rated slightly positive for Unilever by analysts. According to Jefferies, the sales price with 14.5 times EBITDA is in line with the expectation that the food company is thus expanding its portfolio for growth. The sale has a dilutive effect of 2 percent on earnings per share if the proceeds are used to repay debt as announced. The deal was reported shortly before the close of trading on Thursday, and the value is currently 0.3 percent lighter.

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Last stock index +/-% absolute +/-% YTD

Euro Stoxx-50 4,398.63 +0.3% 14.93 +23.8%

Stoxx-50 3.798,97 +0,4% 16,17 +22,2%

DAX 16.266,86 +0,3% 45,13 +18,6%

MDAX 36,063.34 + 0.3% 95.71 + 17.1%

TecDAX 3.994,27 +0,7% 27,52 +24,3%

SDAX 17.123,36 +0,3% 51,72 +16,0%

FTSE 7,286.58 + 0.4% 30.62 + 13.0%

CAC 7,176.07 +0.5% 34.09 +29.3%

Bond market recently in absolute terms +/- YTD

German ten-year return -0.27 +0.01 +0.31

US-Zehnjahresrendite 1,59 +0,01 +0,68

DEVICES last +/-% Fri, 8:23 pm Thu, 17:32%% YTD

EUR/USD 1,1318 -0,5% 1,1353 1,1351 -7,3%

EUR/JPY 129,59 -0,3% 129,83 129,69 +2,8%

EUR/CHF 1,0509 -0,3% 1,0515 1,0517 -2,8%

EUR/GBP 0,8422 -0,0% 0,8407 0,8422 -5,7%

USD/JPY 114,48 +0,2% 114,33 114,26 +10,8%

GBP/USD 1,3445 -0,4% 1,3486 1,3480 -1,6%

USD/CNH (Offshore) 6,3853 +0,1% 6,3860 6,3828 -1,8%

Bitcoin

BTC/USD 57,113.24 +1.0% 56,264.51 57,477.26 +96.6%

ROHÖL last VT-Settl. +/-% +/- USD% YTD

WTI/Nymex 79,37 79,01 +0,5% 0,36 +66,5%

Brent/ICE 81,81 81,24 +0,7% 0,57 n.def.

METALS last previous day +/-% +/- USD% YTD

Gold (Spot) 1.852,74 1.858,89 -0,3% -6,16 -2,4%

Silver (spot) 24.73 24.83 -0.4% -0.09 -6.3%

Platinum (Spot) 1.051.03 1.051.19 -0.0% -0.16 -1.8%

Kupfer-Future 4,39 4,30 +2,0% +0,09 +24,6%

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DJG/thl/ros

(END) Dow Jones Newswires

November 19, 2021 04:13 ET (09:13 GMT)

Reference-www.finanzen.at

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