FRANKFURT (dpa-AFX) – For the Dax (DAX 40), further losses are emerging on Monday in view of disappointed hopes that US monetary policy will soon become more leisurely again. Reports of explosions in the Ukrainian capital of Kyiv also weighed on the mood. The X-Dax as an over-the-counter indicator for the leading German index signaled a minus of 0.9 percent to 12,160 points just under an hour before the start of trading. Its euro zone counterpart EuroStoxx 50 (EURO STOXX 50) is expected to be over one percent lower.
After a promising start to October, dark clouds were already gathering on the stock exchanges again in the middle of last week. The most recent recovery turned out to be a flash in the pan and investors “threw in the towel” sobered, said market observer Christian Henke from broker IG. “The market participants who had hoped that the central banks would put the brakes on interest rates were caught on the wrong foot.” On Friday, a robust jobs report from the United States finally dashed investors’ hopes of more less aggressive rate hikes by the US Federal Reserve.
In the morning there were also violent explosions in the center of Kiev. There were several impacts, reported Mayor Vitali Klitschko and a correspondent for the German Press Agency. The deputy chief of the Russian Security Council, Dmitry Medvedev, had previously threatened Ukraine with retaliation for the explosions on the Crimean bridge, which is strategic for Russia.
However, expert Henke emphasized that a statistically better stock exchange period is now beginning, with an otherwise usual autumn rally, which often lasts into November. However, it is questionable whether this can become reality: In terms of chart technology, the Dax is tending towards 12,000 points again. The beginning of the reporting season and the US inflation data on Thursday could provide important impetus in both directions.
On the company side, the agenda at the beginning of the week looks very clear. Vantage Towers shares rose ahead of the market amid takeover hopes. A trader referred to a media report citing insiders that the competitors American Tower and Cellnex could submit an offer for a stake in the cell tower operator. Allegedly, the British telecom group Vodafone (Vodafone Group) wants to sell part of its German subsidiary. The news is not a big surprise for him, but it is still positive for the shares of the company, which is listed in the MDAX of medium-sized German companies, the dealer continued.
Otherwise, analyst statements could still cause price swings. In the case of the dialysis specialist Fresenius Medical Care (FMC (Fresenius Medical Care)) and the diagnostics specialist QIAGEN, canceled buy recommendations from Anakysehaus Jefferies and the investment bank Oddo BHF are likely to put pressure on the share price. In addition, Jefferies included the observation of the airport operator Fraport with the investment recommendation “Underperform”, with which the analysts assume price losses over a twelve-month period./gl/zb