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Dax:
Like the MDax and SDax, the leading German index is at a record high
Photo: picture alliance / Christoph Schmidt
Investors on the German stock market are still buying stocks despite concerns about an even longer corona lockdown.
The Dax started trading on Monday with profits and
recently
gained
1.3 percent to 13,909 points. This means it has reached another record high on the first trading day of the year.
The MDax of the medium-sized stocks climbed to a record level, as did the SDax small cap index.
With the food supplier Delivery Hero and the chip manufacturer Infineon, the top values of the past year were at the top of the Dax on Monday with an increase of more than three percent each.
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The stocks of specialty chemicals and pharmaceuticals manufacturer Merck KGaA reached a record high after being upgraded by JPMorgan, but then turned into the red.
The papers of the shop pharmacy, last year with an increase of almost 241 percent of the high flyers in the MDax, continued their run with an increase of 3.6 percent.
Tui and shop pharmacy in demand
The Dax ended the past turbulent year with an increase of around 3.5 percent.
Since the Corona crash in March, it had gone up by around two thirds to around 8255 points.
Shortly before the end of the year it was even enough for a record of 13,903 points, which it is now approaching again.
"People ignore the bad news," said one broker.
The ongoing corona mass vaccinations and the planned additional economic aid in the USA pushed the likely extension of the pandemic restrictions into the background.
Investors took hold of those stocks that are likely to benefit particularly strongly from a normalization of public life.
The shares of the tour operator TUI rose by more than 5 percent.
Germany is making slow progress with vaccinations
Germany is meanwhile only making slow progress with the corona vaccinations, although there were teething problems and it will take months until at least the most vulnerable people are vaccinated.
This is one of the reasons why there is currently an extension of the lockdown ahead of new federal-state talks.
However, it is unclear how long the restrictions should apply and what will happen to schools and daycare centers.
Here, after the talks with Chancellor Angela Merkel (CDU) on Tuesday, the countries could drive different lines.
Christopher Wood, chief equity strategist at Jefferies, believes that despite the ongoing pandemic, equity markets could continue to rise in the face of vaccine hopes.
The central banks and governments are likely to continue to be prepared to give the economy a lot of support if necessary.
A risk is calculated, however, that investors could rely too heavily on a further rapid economic recovery.
As a result, long-term interest rate expectations could rise and the yield curve could become steeper.
With such a sign of a possible rise in inflation, the reaction of the central banks would be very important.
If, for example, the US Federal Reserve signals that it is curbing its flood of cheap money, this would put a heavy strain on the stock markets.
Economic data from Europe and the USA
After two shortened weeks, trading on the Frankfurt Stock Exchange will begin again for a full five days for the first time on Monday.
However, many players are still likely to be in the Christmas break and trade will be leisurely.
At the beginning, the local stock exchanges should, as so often, depend on the drip from the US stock exchanges and initially understand the last price movements there.
The agenda for the coming week will then mainly include economic events.
The European purchasing manager indices will begin on Monday.
The US labor market development should be exciting in December.
The monthly unemployment figures of the US service provider ADP on Wednesday will be followed on Friday by the US government's official labor market report.
Nikkei a little weaker
The Tokyo stock exchange initially showed itself to be weaker at the start of the year.
Experts referred to an announcement by Prime Minister Yoshihide Suga to examine the declaration of a state of emergency because of the coronavirus pandemic in Tokyo and the surrounding prefectures.
The
Nikkei
index, which
comprises 225 values,
was down 0.4 percent on Monday at 27,327 points.
The broader Topix index fell 0.7 percent to 1793 points.
The Shanghai stock exchange was 0.2 percent up.
The index of the most important companies in Shanghai and Shenzen gained 0.3 percent.
The MSCI index for Asian stocks outside of Japan hardly moved.
US stock exchanges at record high
On the last trading day of the year (December 31, 2020), US standard values reached record highs again thanks to a final spurt after a largely sluggish business.
However, the volume was significantly lower than usual, as important European stock exchanges were closed on New Year's Eve, as on Christmas Eve.
Nevertheless, the Dow Jones jumped to a good 30,637 points in the last few minutes of trading, the highest level in its history.
Little change in the euro against the dollar
In Asian foreign exchange trading, the dollar lost 0.2 percent to 103.00 yen and was 0.5 percent to 6.4931 yuan.
In relation to the Swiss currency, it was quoted 0.2 percent lower at 0.8832 francs.
At the same time, the euro rose 0.9 percent to 1.2250 dollars and rose 0.2 percent to 1.0824 francs.
The pound sterling gained 0.1 percent to $ 1.3688.
Oil price hardly changed - OPEC advises on increasing production
The oil price hardly changed on Monday morning.
The oil cartel Opec and its ten cooperation partners (Opec +) will discuss further steps in oil production on Monday.
The focus of the online ministerial meeting is the question of whether production should be expanded by up to 500,000 barrels (159 liters each) a day from February.
The total of 23 oil-producing countries recently agreed to no longer decide every six months, but monthly on adjustments to oil production.
On the one hand, many member states are interested in producing more again in order to increase income.
On the other hand, oversupply threatens to put prices under pressure.
The oil price, which fell sharply due to the Corona crisis, had recovered somewhat in recent months.
Allianz Opec + has a share of the global oil market of around 40 percent.
la / dpa-afx
