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In the morning: Delivery Hero, DMG Mori, Sulzer and Takeda in focus – Nord LB column

The number of start-ups in Germany fell significantly in the first half of the year due to the corona pandemic. In the case of larger companies they fell by 9.4% compared to the previous year to around 58,000, in the case of small companies there was an even more severe drop of – 21.1% to around 68,100. In addition to the general economic uncertainty, it was above all the measures taken to combat the pandemic (including the cessation of visitor traffic in the trade offices) that were responsible for the decline, explained the Federal Statistical Office.

Even if the economy has partially recovered from the weakness caused by the Corona measures in recent weeks, the French government continues to expect a severe economic slump this year. “For the time being,” said Finance Minister Le Maire, he continues to expect an 11% decline in GDP. “While there was a strong recovery in May / June, there are still many uncertainties until the end of the year – especially with regard to Brexit, the US elections and the new Chinese five-year plan,” it said.

Bond market

The fact that the US government has issued emergency approval for corona treatment with blood plasma and is also considering accelerating the approval process for a corona vaccine candidate has increased investors’ willingness to take risks and, at the same time, increased the prices of German government bonds Minus pressed. Against the background of rising stock markets, US bonds posted price losses, which, however, remained manageable.

Stock market

Positive statements from the US government on corona treatment methods have put investors in the German stock market in a buying mood and have the DAX rise again by over 13,000 points.

DAX + 2.36%, MDAX + 1.33%, TecDAX + 0.97%. Delivery Hero’s debut in the leading index went, if only just barely, wrong. The share lost 0.67%, making it the only DAX stock in the red.

Once again, the hope for treatment options for corona infections has given investors on Wall Street access. Airlines and Boeing in particular benefited. Dow Jones + 1.35%, S & P-500 + 1.00%, Nasdaq-Comp. + 0.60%. Nikkei 225 act. with significant price gains: 23,384 (+ 1.73%).

Companies

According to CEO Thönes, the machine tool manufacturer DMG Mori is countering the effects of the corona pandemic with savings of around EUR 200 million in the current year. “We will come out with an EBIT of EUR 60 million plus,” he said in a Reuters interview. EUR 100 million in savings related to structural costs and EUR 100 million to personnel costs. “We mainly rely on flexible working time agreements. We do not have mass layoffs, ”emphasized Thönes. Business was better in Q3 than in Q2, when incoming orders fell by 46%. “But we are far from a V-shaped recovery,” he said.

The Swiss mechanical engineering company Sulzer is buying the Swiss-German company Haselmeier for EUR 100 million, thereby expanding its healthcare business. The company manufactures patented injection systems, including Pens that patients could use to self-administer medication for diabetes or stunted growth. Haselmeier achieved sales of EUR 36 million in 2019 with 230 employees. The transaction is expected to close on October 1st.

As part of a stronger focus on five core business areas, the Japanese pharmaceutical company Takeda is selling its business with non-prescription health products in Japan to the US financial investor Blackstone for US $ 2.3 billion. The transaction is expected to close by March 2021.

currency

The positive news about Corona treatment methods have weakened the US dollar and, in return, allowed the euro to rise.

Oil / gold

The good stock market sentiment as a result of the Corona news
from the US has given oil prices a boost. The rediscovered risk appetite of investors put gold on the losing road

Disclaimer: This text is a column of the North LB. 4investors is not responsible for the content of the column and therefore does not necessarily have to agree with the opinion of the 4investors editorial team. Any liability and claims are therefore expressly excluded by 4investors!

At a glance – chart and news: DMG Mori Seiki

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