NAfter the previous day’s rally, the German stock market is likely to continue its upward movement on Tuesday. “The Dax is on its way towards 13,000 points,” said the Donner & Reuschel bank that morning. Almost an hour before the start of trading, the X-Dax as an indicator for the German benchmark index was 12,895 points and indicated an increase of 0.19 percent for the stock market barometer. The leading Eurozone index EuroStoxx 50 is expected to be around 0.2 percent higher. With price gains of more than three percent, the Dax started the new week on the stock market. Expert Konstantin Oldenburger from the trading company CMC Markets pointed out with a view to the Corona crisis “that it has not turned out as bad for the economy as it was thought a few months ago”. Stockbrokers rewarded this with rising prices.
Brexit could move more into the focus of investors. A new round of negotiations on a trade agreement for the time after the Brexit transition phase begins this Tuesday. The EU has set London a deadline of September 30th to withdraw plans to nullify parts of the 2019-negotiated and already valid EU withdrawal agreement.
Interesting individual values
Hella shares could be worth a look among the individual stocks. The lighting and electronics specialist wants to sell the software business for front cameras to Volkswagen. The company did not provide any information about the price. However, the sale will lead to extraordinary income in the order of around 100 million euros, said the auto supplier. The Hella titles rose by 1.5 percent on the Tradegate trading platform.
The fund company Allianz Global Investors (AGI) has dismissed allegations of US investors who are demanding compensation for investment losses worth billions. The allegations are legally and factually incorrect, said AGI. The Allianz subsidiary is faced with several lawsuits from institutional investors, which it blames for dramatic losses. Allianz shares fell by 0.3 percent on Tradegate.
KBA wants to save even more
The printing machine manufacturer Koenig & Bauer (KBA) wants to step on the brakes even more. The company announced on Monday evening that the current efficiency program had been further developed and expanded. Now the costs are expected to be over 100 million euros lower by 2024, after more than 70 million euros previously. KBA shares fell 0.8 percent on Tradegate.