D.he German stock market initially held up well on Friday against the background of rising corona infection numbers. The Dax recently rose by 0.2 percent to 13,112 points. This indicates a mini week plus of around 0.3 percent for the leading index. The M-Dax of the 60 medium-sized stocks gained 0.4 percent on Friday morning to 28,877 points. The leading Eurozone index Euro Stoxx 50 increased by around 0.3 percent. The shares of the pharmaceutical giant Merck moved up to the top of the DAX after a buy recommendation by the analysts at Pareto.
Against this background, the share prices of the corona vaccine developers Biontech and Curevac stood out positively. The shadow papers (ADR) traded in Frankfurt on the Biontech share listed in New York gained more than 5 percent on the Tradegate exchange. The price of Curevac papers rose 3.8 percent.
These price increases are likely to be related to the announcement that, according to an insider, the European Union could put around nine billion euros on the table for hundreds of millions of doses of corona vaccines from partners Pfizer and Biontech as well as from Curevac. In the event of official approval, the EU wants to pay 15.50 euros per dose for the agent from the Mainz biotech company Biontech and the American pharmaceutical company Pfizer, said a person familiar with the negotiations at the Reuters news agency.
For days, investors have not been able to make a clear choice between worrying about the effects of high numbers of infections and hoping that several vaccines against the virus will soon be available. The number of new Covid-19 infections in Germany is meanwhile increasing. The Robert Koch Institute (RKI) reported 23,648 new corona infections within 24 hours – another high. The previous peak had been reached a week ago.
“Investors now want more than just vaccine success stories. Theoretical and practical benefits are currently being weighed on the gold balance, ”commented market expert Timo Emden from Emden research. The vaccine euphoria of the previous week is now clouded by logistical challenges and questions about its effectiveness in practice. With a view to the weekend, investors could also pocket a few profits, believes Emden.
From a company perspective, the news situation on Friday is rather thin. The agenda shows that the corporate reporting season is almost over. A buy recommendation by the analysts Pareto pushed the shares of Merck KGaA up 1.2 percent to the top of the Dax. Analyst Dennis Berzhanin praised the chemical and pharmaceutical company’s resilience in the pandemic and upgraded the papers from “Hold” to “Buy”. He also spoke of very good third quarter figures for the Darmstadt group.
The shares of Freenet gained 1.7 percent after the announcement of the debt reduction of the mobile operator. The loan to finance the share package acquired in 2016 to Sunrise in the amount of 610 million euros will be repaid this Friday, said Freenet. With the complete sale of around eleven million Sunrise shares, Freenet recently received around 1.1 billion euros.
The Paion papers soared 7.5 percent. The Aachen-based pharmaceutical company submitted positive phase III study data for the intended EU approval of the anesthetic remimazolam. As Paion announced, the agent showed no inferiority to the standard anesthetic propofol, which has long been used for short sedations. The drug had already received approval for the US market in July.