Markets

Record hunt across the asset classes

I.Investors around the world remain in a buying mood despite the worsening Corona situation. The German share index Dax continued to approach its record high on Thursday. The previous record was in February before the Corona crash at 13,795 points. At the top, the Dax came close to arm’s length on Thursday with 13,725 points, but then lost some of its power. The most important German share index has thus endured the losses from the Corona slump.

Among the individual values, the sporting goods manufacturer Adidas was in particular demand after CEO Kasper Rorsted expressed optimism about the Christmas business in a television interview despite the Corona restrictions in Germany and many other parts of Europe. Adidas benefits from the fact that many people work at home, said Rorsted: “You don’t wear a suit in the home office.” Otherwise, the most popular industries among the daily winners could not be identified. The utility Eon played along with the IT companies Infineon and SAP or the chemical company BASF.

Fed as a driver

The German small caps are also moving at unprecedented heights. On Wednesday, the M-Dax of the medium-sized values ​​cracked the 30,000 points for the first time in its history and on Thursday was at times almost 200 points above it. The mood is somewhat more subdued with a view to the whole of Europe. The euro zone selection Euro Stoxx 50 is still a long way below the pre-Corona level, but increased again on Thursday.

The statements made by the American Federal Reserve on Wednesday evening German time were considered to be the driving force behind the stock markets. She wants to face
the corona pandemic to keep their key interest rates at zero and continue to pump hundreds of billions into the American economy every month. The Fed wants to use all its instruments to prop up the economy in this “challenging time”, the central bank said
after your interest rate decision. The growing concern about rising inflation as a result of the corona pandemic is also considered to be the reason why more and more investors are turning to tangible assets such as stocks.

Oil price back at pre-crisis level

But prices are not only rising on the stock markets, but also on the oil market. The important barometer for the state of the world economy had collapsed sharply with the spread of the corona pandemic in spring, which German motorists could not least notice in the extremely low gasoline prices. In contrast to the stock markets, oil prices remained in the basement for a long time because energy consumption remained low due to the paralyzing global economy and significantly less traffic. In the darkest time in spring, future contracts on oil were even negatively priced at times.

On Thursday, oil prices meanwhile reached their highest level since the Corona outbreak in spring. A barrel (159 liters) of North Sea Brent cost $ 51.24 in midday trading. That was 16 cents more than the day before. At its peak, the Brent price had risen to $ 51.90. The price of a barrel of American West Texas Intermediate (WTI) rose
18 cents to $ 48.00.

Bitcoin makes another big leap

And another asset class is moving from record to record – the cyber currency Bitcoin. After breaking the important mark of $ 20,000 on Wednesday, a Bitcoin cost more than $ 23,000 on Thursday. As recently as March, the crypto currency, whose value had fluctuated violently over the past few years, only cost $ 5,000. Bitcoin has benefited from several developments for some time. The news that the payment service PayPal wanted to enable its customers to pay with Bitcoin and other crypto currencies recently sparked new interest in the oldest cyber motto.

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