MARKETS IN EUROPE / Stock exchanges already quiet before Christmas
FRANKFURT (Dow Jones) – The European stock markets were up slightly on Wednesday afternoon. At the same time, trading is already proceeding very smoothly, and sales are increasingly thinning. The DAX gained 0.3 percent to 15,490 points, the Euro-Stoxx-50 rose by 0.2 percent to 4,182 points.
“It is positive that the buy-the-dips mentality is still intact,” says one market participant with a view to the fact that the latest DAX lows towards the 15,000 mark were again quickly used to gain entry. There is still a lot of money on the sidelines that needs to be invested. With a view to the spread of the Omikron variant, the willingness to take an even greater risk at the level that has now been reached is likely to be low. The new restrictions in Germany after Christmas provided few arguments to buy, according to retailers.
So far, the US economic data has not provided any impetus. The US economy grew somewhat faster than expected in the third quarter, according to the third reading. In addition, economic activity in the USA accelerated at a somewhat slower pace in November than before. Following the opening of trading, the consumer confidence index for December follows, which should generate more interest. A slight increase is expected here.
Delivery Hero with a strategic U-turn
Delivery Hero buries its expansion plans in Germany only a few months after returning to the home market. The food delivery brand Foodpanda Germany will withdraw from six German cities. Only the Berlin location will remain as an innovation center for pilot projects for employees, announced the DAX group. In addition, the Japanese store, Foodpanda Japan, is expected to be sold in the first quarter of 2022. In view of the already fierce competition among delivery services in Germany, this decision is viewed positively on the stock exchange, and the share has increased by 6.4 percent as a result.
Beiersdorf improve by 1.6 percent. The consumer goods company takes over the prestige skin care business from Chantecaille. The Swiss pharmaceutical company Novartis is strengthening its ophthalmology and is taking over the British company Gyroscope Therapeutics. Novartis will initially make a payment of $ 800 million. A further up to 700 million dollars are to follow depending on the achievement of certain milestones. The Novartis course loses 0.7 percent.
Moeller Maersk strengthens presence in Asia through takeover
AP Moeller-Maersk, the world’s largest container shipping company, is buying the logistics business of the Chinese group Li & Fung for 3.6 billion dollars (3.2 billion euros). Maersk is taking a further step to provide its customers with “end-to-end logistics”, they say. Maersk is swimming in money because the demand for freight capacity is currently exploding and prices have risen accordingly. The share increases in Copenhagen by 0.5 percent.
The Citi analysts point out that the ratio of enterprise value to EBITDA before synergies is at the level of the recent acquisitions of Maersk. According to the analysts, the transaction will further strengthen the Danish shipping company’s range of end-to-end logistics solutions. In addition, the presence in the important, fast-growing Asian market is increasing.
The capital increase plans are only having a slight impact on Sika, the share price has fallen by 0.6 percent. Sika wants to increase the existing conditional capital by 3.2 million to 18.8 million shares. This is to serve a convertible bond. This will run until June 5, 2025, but the first owners are already converting.
Last stock index +/-% absolute +/-% YTD
Euro Stoxx-50 4,182.19 +0.2% 7.20 +17.7%
Stoxx-50 3.722,21 -0,1% -2,89 +19,8%
DAX 15.490,07 +0,3% 42,63 +12,9%
MDAX 34,471.39 + 0.4% 124.35 + 11.9%
TecDAX 3.831,24 +0,9% 35,32 +19,3%
SDAX 16.087,46 +0,9% 137,82 +9,0%
FTSE 7,289.18 -0.1% -8.23 + 13.0%
CAC 6,991.12 +0.4 % 26.13 +25.9%
Bond market recently in absolute terms +/- YTD
German ten-year return -0.29 +0.02 +0.29
US-Zehnjahresrendite 1,46 -0,00 +0,54
Forex last +/-% Wed., 8:09 a.m. Tue, 5:01 p.m.% YTD
EUR/USD 1,1308 +0,2% 1,1269 1,1262 -7,4%
EUR/JPY 129,20 +0,4% 128,67 128,51 +2,5%
EUR/CHF 1,0428 +0,0% 1,0419 1,0421 -3,5%
EUR/GBP 0,8489 -0,2% 0,8507 0,8512 -5,0%
USD/JPY 114,28 +0,2% 114,17 114,09 +10,6%
GBP/USD 1,3320 +0,4% 1,3249 1,3232 -2,5%
USD/CNH (Offshore) 6,3786 +0,0% 6,3768 6,3809 -1,9%
BTC/USD 48,847.58 -0.9% 49,131.64 48,384.23 +68.2%
ROHÖL last VT-Settl. +/-% +/- USD% YTD
WTI/Nymex 71,10 71,12 -0,0% -0,02 +50,3%
Brent/ICE 73,99 73,98 +0,0% 0,01 +46,6%
METALS last previous day +/-% +/- USD% YTD
Gold (Spot) 1.790,66 1.789,32 +0,1% +1,34 -5,7%
Silver (spot) 22.58 22.53 + 0.2% +0.06 -14.4%
Platinum (Spot) 949.09 937.83 +1.2% +11.26 -11.3%
Kupfer-Future 4,38 4,35 +0,7% +0,03 +24,4%
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(END) Dow Jones Newswires
December 22, 2021 09:56 ET (14:56 GMT)