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High profits in the auto sector support Dax

2020-02-17T09:06:18.201Z


Frankfurt / Main (dpa) - Despite high price losses for Bayer shares, the Dax initially continued its record run on Monday morning. The leading index advanced to almost 13,800 points in early trading and recently posted a plus of 0.15 percent to 13,765.34 points. High profits in the auto sector support him.


Frankfurt / Main (dpa) - Despite high price losses for Bayer shares, the Dax initially continued its record run on Monday morning. The leading index advanced to almost 13,800 points in early trading and recently posted a plus of 0.15 percent to 13,765.34 points. High profits in the auto sector support him.

In addition, guidelines from mainland China, where the leading indices continued the recovery with a swing - had a positive effect - despite the spreading corona virus. The Chinese central bank continues to act against the economic consequences of the corona virus crisis. To this end, it issued new central bank money to the banks at a lower interest rate on Monday.

The MDax of the medium-sized German stock market was recently 0.06 percent higher at 29,231.01 points. The leading index of the Eurozone, the EuroStoxx, rose by 0.12 percent. There is no trading on Wall Street this Monday due to a public holiday.

In the Dax, an impending million dollar fine in the USA burdened Bayer shares with 2.5 percent and BASF shares with 0.9 percent. A U.S. jury sentenced the two companies to pay a total of $ 265 million to a Missouri peach farmer in the lawsuit over the weed killer Dicamba. Dicamba was developed by the Bayer subsidiary Monsanto.

Wirecard shares increased their losses by 1.2 percent on Friday. Merchants justified this with a media report, according to which the payment service provider is said to have canceled a first hearing in the proceedings against the financial newspaper "Financial Times" before the regional court in Munich.

With BMW, Daimler, Volkswagen and Continental, four titles from the automotive industry were ranked first to fourth in the Dax with course premiums of up to 2.7 percent. Stock marketers partly attributed the price gains to a solid outlook from French supplier Faurecia, whose shares were significantly more expensive on the Paris stock exchange. The prospect of tax cuts in China in the face of the corona virus also provides tailwind, said analyst David Madden from broker CMC Markets.

The shares of the media group RTL responded with an increase of 3.5 percent to an increase in the shareholding of shareholder Bertelsmann and to demands from its boss Thomas Rabe for a deregulation of the local TV business. Against this background, ProSiebenSat.1 papers also rose by a good 2 percent.

The engineering service provider Bertrandt performed slightly better than expected on the market with its sales and operating profit (EBIT) for the first business quarter. In the small value index SDax, the stocks gained 1.5 percent.

Source: merkur

All news articles on 2020-02-17

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