FRANKFURT (dpa-AFX) – The recovery of online shares in Germany gained further momentum on Thursday due to the increasing risk appetite. In general, investors are backing stocks that have been hit hard by the rise in interest rates over the past few months. In addition to growth stocks from the online industry, real estate stocks continued their recovery.
Behind Vonovia (Vonovia SE (ex Deutsche Annington)) with an increase of three percent, the shares of the online retailer Zalando were the second best Dax (DAX 40) value with an increase of 2.5 percent in the morning. In the MDAX, the papers of the meal kit supplier HelloFresh, which made it over the 30 euro mark for the first time in a year, attracted particular attention. Most recently, they were the frontrunners in the index of medium-sized stocks with a price jump of 6.5 percent. Stocks of the food delivery service Delivery Hero followed there with a recovery of 4.5 percent from the previous day’s price slide, which had been triggered by disappointing half-year figures.
Mister Spex was also able to report positive things from the industry, the shares of the secondary stock rose by more than ten percent at times. The online eyewear retailer impressed with the quarterly report, which analyst Alexander Thiel from Jefferies rated as a “sign of life”. The company is growing faster than the market and is operationally profitable again after three negative quarters. In the online industry in particular, investors are now paying more attention to profitability.
Some stocks from the industry – with the exception of Hellofresh – are having a bad year in 2023. Zalando and Delivery Hero are among the weakest stocks in their indices. The reason is concern that the rise in interest rates will impair the previously strong growth. The companies are therefore trying to score with investors with profitability. In general, hope is also growing that interest rate hikes will peak./tih/bek/jha/
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