FRANKFURT (dpa-AFX) – The planned takeover of the Danish data provider SimCorp puts a big spanner in the works for investors at Deutsche Börse (German Stock Exchange) on Thursday after the record run of the shares. The results that the stock exchange operator had presented the evening before after the close of trading and which initially convinced investors receded into the background on Thursday. In Xetra trading, the titles fell by up to 7.5 percent. Most recently, the price loss was 6.4 percent to 171.40 euros.
One trader noted first-quarter results were strong, but then downplayed the acquisition announcement because of the valuation and the funding it required. Compared to the Simcorp closing price of the previous day, the stock exchange operator pays a premium of 735 crowns of 39 percent. In this size range, the Simcorp papers now attracted. The takeover target is expected to cost a total of around 3.9 billion euros.
In the first quarter, Deutsche Börse continued to benefit from brisk trading on the stock and commodity markets and higher interest rates. The stock exchange operator is still the beneficiary of the rising capital market interest rates and the fluctuations on the markets, wrote the Berenberg analyst Peter Richardson. Thanks to the strong start, the group is now a little more optimistic about the current year.
Meanwhile, the Deutsche Bank expert Benjamin Goy was a little less euphoric about the results. He attested the stock exchange operator continued strong business. However, it is questionable whether this is sufficient for investors to ensure continued strong price development. Only minor increases in consensus are to be expected. In this respect, the shares probably paid tribute to their previous strength on Thursday. On Tuesday they had marked a record high of 186.35 euros./tih/ajx/jha/
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