Stocks – Dax makes profits – Economy

The main German index’s excursion above the 16,000-point mark only lasts briefly, then momentum weakens again on the last trading day in August. Delivery Hero’s stock is investing heavily.

The prospect of a continuation of the ultra-accommodative monetary policy initially resulted in slight price gains on the German stock market. Of Dax sometimes rose 0.8% and surpassed the 16,000 point mark, which it first crossed on August 13. By the end of trading, the gains collapsed and the leading index fell 0.3% to 15,835 points. The trigger for the exchange rate losses was an indication of a possible reduction in pandemic aid from the European Central Bank. In addition, disappointing economic data from China dampened the buying mood. The mood index for purchasing managers in the Chinese services sector has signaled a decline. Its industry counterpart was only just above the 50 point threshold, a sign of growth. It will only depress the mood for a short time, added Oanda expert Craig Erlam. After all, there have been signs of this development for some time. Delivery Hero shares led the Dax, up 3.6%. The food delivery company benefited from record orders from South Korean subsidiary Woowa. In addition, Investor Prosus increases its stake in Delivery Hero, thereby strengthening its position as the largest owner. Regardless of that, Prosus is swallowing Indian payment processor Billdesk for $ 4.7 billion through its Payu stake. The agreement makes Payu one of the leading online payment processors. Prosus securities listed in Euro-Stoxx-50 rose 6.4 percent.

The papers from engine manufacturer MTU Aero Engines were among the lowest DAX values ​​with a minus one percent. The concessionaires have justified the discounts by the spread of the corona virus in many countries and the resulting restrictions in international air traffic. Lufthansa shares fell 1.5% in M-Dax, weighed down by a sell recommendation from Metzler bank. The first favorite in the S-Dax was the paper of the Adler group with more than five percent. The real estate group has increased its commercial objectives for the current year. The growing number of coronavirus cases in the United States has dampened the buying mood of American investors after the latest records. The flagship index Dow jones gave in easily.

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