HomeEconomyInvestmentActions11. October 2021, 6:47 p.m.
Actions: slow start of the week
Inflationary fears of investors prevail and push Dax into the red. Against the negative trend, bank stocks are sought after. You benefit from the hope that interest rates will rise soon.
Inflationary fears and the imminent start of the US balance sheet season aroused reluctance among European investors on Monday. Of Dax closed 0.1% lower at 15,199 points. “There are still real concerns about stagflation,” said Susannah Streeter, analyst at the Hargreaves Lansdown investment platform. There are indications that the price hike will not be as temporary as central bankers initially thought. “This is straining the economic recovery.”
Bank stocks were sought after for individual stocks. Investors are expecting interest rate hikes soon in the wake of rising inflation. A European Central Bank interest rate hike at the end of 2022 is now firmly anchored in the money market. The European banking index reached its highest level since February 2020, offsetting almost all of the losses linked to the pandemic. In Dax, Deutsche Bank stock was one of the biggest winners with a 0.6% price increase, Commerzbank shares gained 1.7% in value in M-Dax. The first favorite in the Dax was the Bayer paper with a more than 1.8 percent. Media reports here helped to say that the sale of the Environmental Science Professional division was being considered. In contrast, Zalando stock lost 2.6 percent. More and more consumers are returning to stores to shop when they reopen. In S-Dax, Morphosys shares sometimes increased by 10.5%. The biotech company and its development partner Roche can look forward to early approval of the Alzheimer’s disease drug candidate gantenerumab in the United States. If Roche succeeds in bringing the drug to market, Morphosys will participate in the commercial success. Teamviewer titles fell almost eleven percent and were by far the weakest value in the M-Dax. Morgan Stanley analysts downgraded the shares of the provider of remote maintenance and video conferencing software and significantly lowered the price target. The Teamviewer papers had collapsed last week following a profit warning. The Wall Street stock exchanges started the new week with small gains. Of Dow jones scored 0.6% more at 34,941 points midway through.
© SZ of October 12, 2021 / cikr, Reuters, dpa