Dax increases at choice – but mood cools down

Frankfurt / Main (dpa) – After the federal election on Monday, investors felt a certain relief it on the market. The first joy with a Dax rise to over 15. 700 Points decreased, however. From trading, the leading index was only 0, 22 percent higher at 15. 573, 88 counters. The MDax of the medium-sized stock market values ​​slipped just under 0, 02 percent into the red. He concluded at 35. 274, 14 Points.

According to DZ Bank investment strategist Christian Kahler, a Left alliance was the only real burden on the stock market, but this is no longer an option. For German stocks, it makes little difference whether it comes to “Jamaica”, a “traffic light” or even a grand coalition. “Regardless of the outcome of the negotiations, Germany remains a politically safe haven in Europe,” said the expert. This is particularly important for foreign investors.

Investors increasingly turned their backs on values ​​that were considered winners in the pandemic. Shares in online-focused traders such as Hellofresh or Zalando came under pressure by up to 3.9 percent. But also in the health sector, corona profiteers such as Merck, Siemens Healthineers or Sartorius were sent downhill with up to 4.1 percent. This went hand in hand with falling prices on the US technology exchange Nasdaq.

While the oil price rally continued on Monday due to concerns about a fuel crisis, the prospect of future government participation by the Greens attracted investors to the renewable energies. Siemens Energy, for example, rose by 3.3 percent as the DAX leader. In the SDax, Encavis rose even more at 4.7 percent: The wind power and solar park operator announced a takeover of wind farms in France.

Since a red-red-green coalition at the federal level is off the table, Real estate stocks were also among the winners. Vonovia shares defied the Berlin referendum for the expropriation of large real estate groups with an increase of 1.8 percent. The company also reported progress with the takeover of Deutsche Wohnen, meanwhile it holds the majority of the shares in the competitor.

In the MDax, the shares of K + S ended up with a price jump of 5.8 percent of clear favorite. They were fueled by a Bank of America dropping sell recommendation. As analyst Alexander Jones wrote, the potash company is soon to see a drastic improvement in terms of the development of cash . With 470 euros per share, the financial investor EQT now outbids the recently raised offer from competitor Hellman & Friedman. But the market bet on something more, the shares closed at 485, 60

In the SDax, the shares of Klöckner & Co got going after a further increase in the annual profit target with a price increase of almost eight percent. The opposite was the case with the shares of the laser specialist LPKF: They fell by 4.2 percent after a capped outlook.

The EuroStoxx selection index held its own on the European stage 50 with 0, 17 percent in the plus , he went out of trading at 4165, 48 points. The leading indices in Paris and London both closed moderately in the profit zone. In the USA, the Dow Jones Industrial rose 0.4 percent from the weak Nasdaq stock market.

The euro was last at 1, 1703 US dollars traded. The European Central Bank (ECB) set the reference rate at 1, 1698 (Friday: 1, 1719) US dollars. The dollar cost 0. 8548 (0, 8533) euros.

On the bond market, the current yield rose from minus 0. 32 percent on Friday to minus 0, 29 percent. The Rex pension index fell by 0, 02 percent to 144,31 Points. The Bund future was last up at 0, 01 percent at 170, 22 points.

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