Frankfurt (Reuters) – After the run to new records, Dax investors are taking a calm approach to the new week.
The German leading index was hardly changed at 16,759 points at the opening on Monday. On Friday it reached a new all-time high of 16,782.72 points. “Many investors are already of the opinion that the market will no longer fall noticeably this year, the news situation is simply too positive,” said Jochen Stanzl, analyst at broker CMC Markets.
When it comes to individual stocks, Morphosys shares shot up by up to 14.9 percent. The biotech company had presented new results from a phase 3 study with its main hope, pelabresib, according to which the drug improves standard therapy for bone marrow cancer. In contrast, Encavis shares fell by up to 5.5 percent after Morgan Stanley downgraded the wind and solar park operator’s shares to “underweight” from previously “equal-weight”.
(Report by Stefanie Geiger, edited by Kerstin Dörr. If you have any questions, please contact our editorial team at [email protected] (for politics and economics) or [email protected] (for companies and markets)