NAfter the recent losses, the Dax rose sharply on Monday. He not only resumed the fight for the hurdle of 13,000 points, but also regained the 13,100 point mark. According to market experts, the hope of a loose monetary policy by the European Central Bank (ECB) on Thursday gave a boost. Although no changes are currently expected, it is hoped that “further easing will take place in due course”, as the experts at Societe Generale wrote, among others.
With comparatively low trading turnover, the German leading index went out of trading with a premium of 2.01 percent to 13,100.28 points. The week before, he’d lost one and a half percent. The MDax gained 2.47 percent on Monday to 27,567.09 meters and the stock exchanges across Europe also recovered significantly. The EuroStoxx 50 rose 1.64 percent to 3314.07 points. The stock exchanges in Paris and London also made strong gains while there was no trading in the United States due to a public holiday.
In the Dax, Volkswagen shares were the biggest winners with a plus of 4.7 percent. As works council chief Bernd Osterloh told the “Welt am Sonntag”, the carmaker could make faster progress with the construction of electric cars than planned.
Airbus is growing strongly
Munich Re rose by 1.7 percent. After the billion-dollar damage caused by the corona pandemic, the reinsurer got off comparatively lightly in other disasters in the summer. Board member Torsten Jeworrek also expects that the price screw can be further turned when renewing contracts with primary insurers such as Allianz and Axa in the next year and the year after next. With a plus of 0.3 percent, the HeidelbergCement shares rose below average. Societe Generale gave its buy recommendation for the papers. After the share’s recent price gains, she fears disappointments with a view to the capital market day ahead in mid-September.
Another topic of the day was the upcoming changes in the MDax, the index of medium-sized stocks. Deutsche Börse corrected its announcement on Thursday and named the startup developer Rocket Internet as a relegated partner instead of Aareal Bank. Aareal shares benefited from the surprising relegation and rose by 1.5 percent within the comparatively weaker banking industry. The Rocket papers hardly made any progress with a plus of 0.1 percent.
Airbus gained 5.4 percent in the MDax. In the market, reference was made to a media report about a higher fleet use. According to the financial newspaper “Les Echos”, which cited an internal source at Airbus, 60 to 65 percent of the global Airbus fleet was back in service in July. In April, however, the proportion was only 25 percent. The business with downstream services in particular will benefit from this, it said.
Euro falls easily
Software AG’s shares also rose by 3.7 percent following a buy recommendation from Metzler, which praised the software manufacturer’s transformation strategy. In the SDax, the shares of the solar park and wind power plant operator Encavis rose by 5.9 percent to 14.26 euros. A price target of the analysis house Warburg, which was clearly increased, drove us on. Analyst Jan Bauer highlighted the margin prospects and the company’s expanding value chain and raised the target price sharply by EUR 10 to EUR 17.20.
On the bond market, the current yield rose from minus 0.49 percent on Friday to minus 0.48 percent. The Rex bond index rose 0.10 percent to 146.00 points. The Bund future gained 0.03 percent to 176.48 points. The euro fell to $ 1.1817 in the early evening. The ECB set the reference rate at 1.1824 (Friday: 1.1842) dollars. The dollar cost 0.8457 (0.8445) euros.