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Stock exchange at the start of the week: Corona shares are in demand again

D.he prospect of mass vaccinations against the
Coronavirus is pushing the planned tightening of the pandemic restrictions in Germany into the background. “In the past few weeks, investors have come to realize that it will probably get worse before the situation changes over the course of the coming year
should actually improve. “At the opening on Monday, the Dax rose 0.8 percent to 13,221 points. The German benchmark index received additional tailwind from the extension of the Brexit talks.” With this, the hope of future, orderly trade relations lives between
of the EU and Great Britain “, said portfolio manager Thomas Altmann from the wealth advisor QC Partners.

The favorites on the German stock market were those stocks that benefit from the pandemic restrictions. These include the online fashion retailer Zalando and the Kochbox mail order company HelloFresh. Its shares rose by up to 5.1 percent to a record high of 64.55
Euro. The shares of the battery manufacturer Varta benefit from statements made by the major shareholder and supervisory board chairman Michael Tojner in the “Frankfurter Allgemeine Sonntagszeitung”, who wants the shareholders to participate in the strong course of business for the first time through a dividend. “So far we have invested all of our profits back into the company,” said Tojner. “It is now
at the time to involve shareholders “.

On the other hand, the victims of the lockdown, such as the airport operator Fraport, the travel operator TUI and the shopping center operator Deutsche Euroshop, went downhill. Their shares lost up to 3.6 percent. Borussia Dortmund shows that there is still bad news beyond Corona. Borussia lost 1: 5 to Stuttgart at the weekend and then they threw out their Lucien Favre. That sent the share price down five percent on Monday.

Are risks sufficiently priced in?

The main driver on the stock exchanges amid the worsening corona situation is that there is still a glimmer of hope in the Brexit talks. Nevertheless, the question arises as to whether the risks on the stock market had been taken into account to an appropriate extent despite the recent Dax losses on Friday, or whether there was still a need for further adjustments, wrote the Helaba experts in the daily outlook. The talks about a trade pact between Great Britain and the European Union are being continued again. EU Commission President Ursula von der Leyen and British Prime Minister Boris Johnson agreed on this. Originally, the final decision should have been made on Sunday. Both sides are still “very far apart” on some key issues, stressed Johnson.

However, uncertainty continues to be triggered by the fact that Germany will enter a tightened lockdown in the course of the week. Against this background, market observer Thomas Altmann from QC Partners sees the stock exchange in an area of ​​tension. “The Dax is caught between the
The prospect of a gradual normalization of economic life with an increasing vaccination rate on the one hand and a renewed lockdown on the other. “Altmann sees positively that the Dax held the 13,000 point mark on Friday.

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