After the last five weak days, the Dax largely stabilized Thursday. The main German index improved 0.3% to 15,918 points. By early trading, it had even risen half a percent to 15,963. However, there has been no boost from New York as the Wall Street stock exchanges remain closed for “Thanksgiving.”
However, the fear of further blockages in the face of increasing corona cases continues to plague investors. Most investors liked the plans of the new traffic light coalition in Germany, but insisted that they be implemented quickly. “It’s a good sign that the results were achieved relatively quickly – despite the very different parts,” said capital market strategist Carsten Roemheld of Fidelity International.
The content of the contract has also shifted individual stocks, particularly the energy sector. With a price premium of 6.8%, RWE shares continued their positive reaction the day before. Accelerated targets for the phase-out of coal and more ambitious renewable energy targets are positive for the energy company, Jefferies analyst Ahmed Farman wrote. The recovery in the energy sector has spread to many other industry stocks, including renewable energy stocks. Shares of wind turbine maker Nordex were 7.5% more expensive, while those of SMA Solar were 4.5% more expensive. According to the coalition agreement, the share of renewable energies in electricity consumption must increase to 80% by 2030 in order to make the phasing out of coal possible. Nordex had also received an order from Peru.
Another very popular stock, due to the coalition’s goals, was the small-cap shares of Synbiotic, which rose almost 39%. Analyst Aliaksandr Halitsa of private bank Hauck & Aufhäuser spoke about the controlled distribution of cannabis planned by the traffic lights, which is a milestone for the German cannabinoid market in which the company operates.
The approval of Biontech’s coronavirus vaccine for children aged five to eleven by the European Medicines Agency (EMA) has helped the company’s headlines rise by 1.5 percent.