Stocks – Dax slightly in the red – economy

In midweek, German stock market investors withdrew from the US Federal Reserve Symposium. Of Dax fell 0.3% to 15,861 points. Ifo’s mixed data on economic sentiment in Germany did little to influence investors. “The weak economic data this week could serve as a springboard for the US Federal Reserve to loosen the reins it had just taken in hand,” Jochen Stanzl, analyst at the CMC Markets trading house, told the Fed Conference on Friday. Investors will therefore weigh on any suggestion by CEO Jerome Powell that the Fed should reduce its bond purchases.

Shares of sporting goods manufacturers Adidas and Puma benefited from a boost from Deutsche Bank. Analysts are anticipating a further increase in demand for sporting goods and casual sportswear. Overall, the pandemic has also pushed online retailing in the clothing industry. The Adidas share rose 0.6 percent in the Dax, the M-Dax Puma paper gained one percent. After Biontech and Pfizer’s vaccine receives its first full approval in the United States, investors are hopeful that more people will be ready to vaccinate. This drove the European Travel and Leisure Industry Index up 1.8%. In this country, Lufthansa shares rose 2.6%, shares of travel company Tui rose 1.4%. The corona pandemic has had a negative impact on the real estate company Aroundtown, which specializes in offices and hotels. Operating income fell 26% to 172 million euros. The reduction in the size of the portfolio was felt with a drop in rental income of almost 9%. Shares of Aroundtown topped M-Dax’s losing list with a good six percent. At the top of the S-Dax were papers from digital product developer and newcomer to the Nagarro Index with a 5.7% increase. The newspaper thus reached a record. The US stock markets experienced a slight upward trend. At market close, the Dow Jones was 0.1% higher. The Nasdaq Composite Index and the S&P 500 also rose, continuing their record hunt.

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