Tuesday 29 December 2020
Hard road to 14,000
Dax the air is getting too thin
In the course of the day, profits crumble on the German stock market. The strong jump at the beginning of the week needs to be digested. However, nothing changes in the generally positive situation.
In the end, the German stock market will run out of steam. With the starting bell, trading increased again significantly and the German Dax share index shifted its record level a bit towards the 14,000 mark – but then profits crumbled. It remains at the Dax high of 13,903 places for the time being. Even Wall Street cannot provide any impetus in the afternoon with new record highs. The turnover on the stock market is extremely thin between the years.
And so it closes Dax at the end 0.2 percent weaker at 13,761 points. The MDax on the other hand, it is listed 0.8 percent stronger at 30,912 positions. The TecDax gained 0.2 percent to 3,218 positions. Tomorrow is the last trading day of 2020 in Germany, but trading will only take place until 2 p.m.
For a long time, the hope of increasing economic aid in the USA attracted further investors. For example, the US House of Representatives has passed a bill that will increase the benefit payment for many Americans from $ 600 to $ 2,000. However, the Republican-controlled Senate has yet to approve the increase. Overall, however, the hope of a global economic recovery ensured a solid and stable environment.
On the corporate side, the news situation was thin. Closed in the Dax MTU at the top with a premium of 1.7 percent. SAP gained 1.5 percent. The software manufacturer plans to list its subsidiary Qualtrics on the US stock exchange. In addition, place the two apartment titles German living and Vonovia to.
Things went downhill for them Deutsche Bankwho yielded 3.0 percent. The banking sector was already weaker than the market as a whole the day before. Market participants referred to unanswered questions about the future financial relations between Brussels and London. Not surprisingly, they also closed Delivery Hero Easier: After the strong applause for the South Korea deal, which investors rewarded the day before with a double-digit price increase, some made money. It fell 2.9 percent for paper. All too Car values give in.
In the second row the soaring lasted from Lufthansa at. The price of paper is another 5.6 percent. Here the prospect of tourism picking up continues to fuel investor hopes. Also the airport operator Fraport increases. Among the losers are once more Commerzbank. You not only share the fate of the German industry leader, but also announced the previous day that there were high millions in the fourth quarter thanks to job cuts. But the biggest discounts were booked K + S.
Looking for direction after a strong start in the USA
In the US, the stock exchanges resumed their record hunt in early trading. Cheap central bank money and economic stimuli from the government, which are intended to alleviate the consequences of the corona crisis, continue to fuel the buying mood. Some investors let themselves be carried away by the record hunt, said Carsten Brzeski, head of macro research at ING. In further trading, however, about the fell Dow Jones Index back and was slightly below the closing level from the previous day. The broader one S&P 500 stayed slightly in the profit zone.
The Oil prices are picking up against the backdrop of the US stimulus package and the associated hope of an economic recovery. The price for a barrel of the US grade WTI increases 1.1 percent to $ 48.14, for Brent it's up 1.2 percent to $ 51.48.
The Gold price also increases slightly. The price of the troy ounce rose 0.3 percent to $ 1,880. The rise in national debt as a result of higher spending is playing into the hands of gold investors, the market said. Because a higher deficit is bad for the dollar and therefore good for gold. US bonds meanwhile continue to give way. The yield on ten-year paper rises with falling prices by 2.0 basis points to 0.94 percent.
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