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FRANKFURT (Dow Jones) – The German stock market closed with surcharges on Friday. After the sale last Monday, the week ended in a conciliatory manner. The purchasing manager data from Germany, which clearly exceeded the forecasts in July and thus signaled further growth, provided a tailwind. The deaf statements of the ECB from the previous day were also helpful. The DAX rose by 1 percent to 15,669 points. The MDAX marked a new all-time high at 35,266 points.
After a forecast lowering, the share of Shop Apotheke was briefly double-digit in the red, but it closed 0.9 percent firmer. For the year as a whole, the online pharmacy now only expects sales growth of 10 to 15 percent compared to 2020, previously around 20 percent were expected. According to the Baader analysts, the lowering of the forecast is not really a surprise. After the weak preliminary results for the second quarter, the company adjusted its own expectations downwards.
Consolidation fantasy in the auto parts industry
Krones advanced by 2.6 percent. In the second quarter, the mechanical engineering company’s sales rose by almost 12 percent compared to the same period of the previous year, and the EBITDA margin increased to 8 from 7 percent. The Management Board now expects sales growth and a profit margin well above previous assumptions for 2021.
Continental gained 3.1 percent in the DAX. This was supported not only by strong figures from competitor Valeo, but also by consolidation fantasy after Magna’s purchase of Veoneer. Leoni won 2.4 percent.
Vonovia could submit a new bid for Deutsche Wohnen
Vonovia closed 2.7 percent lower. Vonovia’s acquisition of Deutsche Wohnen failed. Vonovia no longer assumes that the necessary minimum acceptance threshold of 50 percent will be reached. From a market perspective, however, the failure was not entirely unexpected. Vonovia also leaves the back door open to a new bid. In the retail sector, this is believed to be possible, as nothing changes in the sense of a merger. Deutsche Wohnen gained 0.4 percent.
The start of the Olympic Games in Tokyo received relatively little attention. In view of the corona-subdued mood even in Japan and the lack of viewers, they are not seen as a big price driver for stocks like Adidas and Puma – even if they were up 1.8 percent at the close of the stock exchange.
INDEX last +/-% +/-% YTD
DAX 15.669,29 +1,0% +14,22%
DAX-Future 15.661,00 +1,0% +14,72%
XDAX 15.676,30 +1,0% +14,68%
MDAX 35,163.22 + 0.9% + 14.18%
TecDAX 3.668,39 +0,5% +14,18%
SDAX 16.349,95 +0,9% +10,74%
last +/- ticks
Bund-Future 175,94 -9
Index winners losers Rev. turnover million euros million shares previous day
DAX 26 4 0 3.067,3 54,9 50,3
MDAX 47 13 0 832.8 27.3 29.4
TecDAX 19 11 0 776,2 21,0 23,7
SDAX 50 17 3 158,9 6,6 7,4
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DJG / mpt / once
(END) Dow Jones Newswires
July 23, 2021 11:50 ET (15:50 GMT)