2024-03-08 16:58:05
FRANKFURT (Dow Jones)–After an at times hectic week, the German stock market ended the week with a small loss. The DAX left trading with a loss of 0.2 percent at 17,815 points, without losing sight of the previous day’s record high of 17,879 points. The environment for stocks remains favorable, and the first interest rate cut is also expected after the European Central Bank (ECB) meeting in June.
The market strategists at DZ Bank expect prices to continue to rise. The profits of DAX companies are expected to increase by 53 percent between 2022 and 2026, and the price-earnings ratio of 13.3 is the long-term average. The companies in the second tier on the stock market, which are less internationally positioned, would struggle more with the problems in Germany. The MDAX has already developed significantly weaker than the DAX in 2023. The SME index has been down a good 4 percent since the beginning of the year, while the DAX is up 6.3 percent. It becomes clear here that the wind is blowing in the face of German medium-sized businesses.
Hellofresh is losing investor confidence and its shares are down 42 percent
Hellofresh fell by 42.1 percent in the MDAX. Some shareholders must have thought that it would be better to have an ending with horror than a horror without end, said one participant. After the lowered outlook, there is little hope for improvement here. At a low of 6.13 euros, the share was now at its lowest level in around five years; during the pandemic it peaked at 97.50 euros. The outlook for 2024 is “horrible,” say analysts at Stifel. The abandonment of the medium-term goals for 2025 was overdue. The fact that Hellofresh was apparently not prepared to issue new targets was a negative surprise.
There was also a willingness to sell some stocks from the technology industry, with Nagarro falling by 7.6 percent and Aixtron losing 4.9 percent. Süss Microtec (-7.9%) and GFT (-7.2%) also fell significantly. Real estate stocks, on the other hand, were among the winners. Vonovia grew by 1.4 percent, TAG Immobilien by 2.6 percent and Aroundtown by 4.3 percent.
=== INDEX last +/- % +/- % YTD DAX 17,814.51 -0.2% +6.34% DAX future 17,829.00 -0.3% +5.30% XDAX 17,816.55 -0 .3% +6.25% MDAX 25,983.68 -0.7% -4.25% TecDAX 3,464.00 -0.6% +3.79% SDAX 13,874.49 -0.6% -0.62% last +/- ticks Bund-Future 133.81 +40 YTD – based on closing price previous day Index Winner Loser unv. Turnover million euros million shares previous day DAX 19 21 0 3,336.3 68.9 87.9 MDAX 22 27 1 679.7 53.5 38.8 TecDAX 6 22 2 803.8 20.6 21.0 SDAX 21 41 8 112.5 9.5 11.1 ===
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(END) Dow Jones Newswires
March 08, 2024 11:57 ET (16:57 GMT)
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#XETRA #CLOSING #Reconciliatory #week #turbulent #week #March #8th #p.m