The German stock market still lacks the strength to continue the rally from early November. The Dax
hovered around the mark of 13,300 points in the first half of the session on Friday and was last 0.19 percent up at 13,311.55 points. This indicates a weekly gain of around 1.3 percent for the leading index. The MDax of the 60 medium-sized values gained 0.15 percent to 29 188.67 points. For the EuroStoxx 50 it went up by around 0.3 percent.
The price range around 13,300 points represents both resistance and support for the DAX, “explained Comdirect market expert Andreas Lipkow. A kind of magnetic effect emanates from this price range, which is due to the thin news situation and other lack of impulses.
The investor focus is once again on chemical and banking stocks, said Lipkow. Shares in automobile manufacturers and their suppliers are still less popular. These suffered from profit-taking and shifts in the portfolios of institutional investors in favor of technology and chemicals stocks.
VW preferred shares fell below the individual values
as the bottom of the Dax with a loss of 1.7 percent. The car company had announced a further increase in its global market share for 2021. In addition, Volkswagen announced that it would also include a low-priced small car in its range of purely electric cars at prices starting at around 20,000 euros.
Infineon shares made it with a plus of 1.1 percent to the highest level since 2002. With good industry specifications, the papers of the semiconductor group rose by around 10 percent in the past ten trading days and are therefore the best value in the Dax. The US semiconductor industry index SOX even reached a record high.
A buy recommendation from Commerzbank drove the shares of the fertilizer group K + S up by 5.9 percent. In early trading, they had risen to their highest level since February. Unexpectedly high proceeds from the sale of the American salt business and a billions in depreciation in the third quarter would have reduced the balance sheet risks, said analyst Michael Schäfer. In addition, the agricultural environment is brightening noticeably, which could drive up fertilizer prices. Schäfer raised his target price to 10 euros and upgraded the shares to “Buy”.
An announced acquisition of Medios brought the shares of the pharmaceutical company a profit of 22 percent to the highest level since August. Medios acquires the wholesaler Cranach Pharma for around 121 million euros. For financing purposes, the share capital is to be increased by around 20 percent. The acquisition appears to increase value for Medios, wrote Jefferies analyst Alexander Thiel in an initial assessment. The deal also significantly increases the company’s growth base./edh/mis
— By Eduard Holetic, dpa-AFX —
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