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Research and friend of the investors: Adidas boss Kasper Rorsted collects one billion euros on the capital market
Photo: imago images / Sven Simon
The stock market party continues: the Dax rose sharply on Wednesday and at times rose again above the 13,300 mark.
That was the highest level in six weeks.
By the afternoon, however, the Dax gave up part of its profits and fell back to 13,230 points as the US job data turned out a little weaker than expected.
US firms created 428,000 new jobs in August, according to data from recruitment agency ADP.
Experts had expected 950,000 new jobs.
The government's official labor market report will follow on Friday: Despite the recovery on the job market, there was recently a gap of around 13 million jobs compared to the level before the Corona crisis.
Despite the somewhat disappointing economic data from the US, the Dax and EuroStoxx 50 remained in the profit zone on Wednesday.
If the Dax succeeds in jumping over the 13,320 point mark, it would be the highest price since the beginning of the Corona crash at the end of February.
In addition to the somewhat weaker euro, hopes of an economic recovery are based.
The
shares of Adidas and Deutsche Telekom were
among the
biggest winners in the Dax
, with price gains of more than 4 percent each: According to a recommendation by the US bank JP Morgan, Telekom is no longer just a boring dividend stock, but because of the dynamism of T- Mobile US again as a company with growth potential.
The telecom group now offers both growth and value, the analysts at JP Morgan justified their recommendation.
The Bonners have not been associated with growth for a long time.
Dax, Dow and stocks at a glance:
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Adidas boss Rorsted is fighting his way out of the low image
Adidas also offered its shareholders good news: the sporting goods company successfully placed two bonds totaling one billion euros on Wednesday.
With this, Adidas gets rid of the bad suspicion that the group could be dependent on government support due to the Corona crisis.
Adidas boss Kasper Rorsted, whose image suffered in the spring ("Adidas stops rent payments due to Corona"), is working flat out to get out of the survey low and win back his reputation as the darling of investors.
The fact that Adidas can now easily collect billions on the capital market helps the researching Dane - and obviously also helps the share.
The US stock exchanges are also providing a tailwind in the local market, where the technology indices in particular, but also the market-wide S&P 500, have been rushing from record to record for days.
At the same time, the pressure from a further appreciating euro is currently easing somewhat.
The day before, the common currency had risen just above the EUR 1.20 mark for the first time since 2018, which can make German companies' exports more expensive.
The strength of the common currency reduces the competitiveness of the products of local companies on the world market and acts as a brake for the Dax.
Deutsche Bank is weaker against the trend - Sewing warns
Deutsche Bank boss Christian Sewing also poured water into the wine, warning of a long-lasting economic crisis and serious consequences for the banks.
"We will not reach the pre-crisis level for a long time - not this year and not next year," he said at a bank conference in Frankfurt.
Many companies would have to manage to be profitable with long-term lower sales.
However, Deutsche Bank itself is well positioned to master the crisis.
The shares of Germany's largest bank were against the trend, 0.5 percent lower at 7.92 euros.
Vonovia makes it into the EuroStoxx 50 - as the only property stock
Vonovia shareholders liked the jump into the European selection index EuroStoxx50.
Vonovia thus becomes the only property stock in the stock market barometer, which is composed of the fifty most valuable listed companies in the euro area.
The papers gained around 2 percent.
The stocks of the health care company Fresenius, however, have to leave the European index on September 18 after the stock market closes.
Nasdaq again at record high, Dow Jones up
Investors on the technology-heavy Nasdaq stock exchange celebrated records again on Tuesday.
The Nasdaq 100 index made another all-time high.
It was the tenth record high in the past twelve trading days.
At the closing bell, the Nasdaq 100 advanced 1.50 percent to 12,292 points.
The stock market barometer, dominated by the tech giants Apple, Microsoft and Amazon, thus seamlessly continued the strong month of August.
On Wednesday, Nasdaq 100 and Dow Jones are expected to start trading again in positive territory.
The Dow Jones is only a good 200 points (0.8 percent) short of the record high of 29,568 points from February.
The market-wide S&P 500 and ahead of the indices on the Nasdaq technology exchange are already setting highs in series, which should continue towards the middle of the week.
So far, the recovery on the stock exchanges has been carried by the big US technology companies as beneficiaries of the corona pandemic and the loose monetary policy worldwide, commented analyst Craig Erlam from broker Oanda Europe.
But now robust economic data could provide even more optimism.
The
monthly report
published on Wednesday
by the labor market service provider ADP on the employment trend in the private sector fell well short of market expectations and thus caused a slight dampening of sentiment
.
But its informative value for the official labor market report of the US government on Friday is considered to be limited.
The fact that the quarterly loss of the retail chain Macy's turned out to be less than feared caused the shares of the department store operator to rise by more than five percent.
The Asian exchanges, however, did not find a common direction on Wednesday.
The CSI 300 with the 300 most important shares of the Chinese mainland stock exchanges fell recently by around 0.2 percent and the Hang Seng in Hong Kong lost around half a percent.
In Japan, however, the leading index Nikkei 225 rose by around 0.3 percent.
Dax, Dow and stocks at a glance:
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Dax brake released: euro exchange rate falls below 1.19 US dollars again
The euro fell again on Wednesday.
In early trading, the common currency temporarily fell below the $ 1.19 mark.
Most recently it was a little higher at $ 1.1905.
The European Central Bank (ECB) had set the reference rate on Tuesday afternoon at 1.1987 dollars.
On Tuesday, the euro rose above the $ 1.20 mark for the first time in two years.
But the profits could not be maintained.
In the afternoon, solid economic data from the USA pushed the dollar up.
In return, the euro was charged.
Oil
prices
continue to rise - US reserves are falling
Oil prices increased their previous day gains on Wednesday.
In the morning a barrel (159 liters) of North Sea Brent cost $ 46.01.
That was 43 cents more than on Tuesday.
The price of a barrel of the US West Texas Intermediate (WTI) rose by a similar rate to $ 43.19.
In the market, the price surcharges were mainly explained by solid economic data from the USA.
On Tuesday, a highly regarded economic barometer rose to its highest level in about two years.
This speaks in favor of a tendency for the US economy to recover from the corona pandemic, which should also be reflected in somewhat stronger demand for crude oil and gasoline.
akn / mg / dpa-afx, Reuters
