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Dax: recovery after the stock market crash, Biontech shares are up

2021-05-05T21:52:57.319Z


After the price slide from the previous day, the Dax started a tentative recovery attempt on Wednesday, but initially remained below the mark of 15,000 points. The Biontech share is also increasing again. The cryptocurrency Bitcoin remains under pressure.


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Zitterbörse:

The Dax has fallen below the 15,000 point mark

Photo: Frank Rumpenhorst / DPA

Investors on the German stock market seem to want to take advantage of the previous day's price slide to enter the midweek. The Dax should start a recovery attempt with a plus of 0.8 percent to 14,977 points. The leading Eurozone index EuroStoxx 50 is also expected to recover. On Tuesday, heightened fears of inflation sent the German stock market down again. All 30 DAX stocks gave way and for the first time since the end of March pushed the German stock market barometer to a level below the 15,000 mark. At the Xetra close the previous day, there was a drop of 2.49 percent to 14,856 points. The MDax dropped by 2.65 percent to 32,042 points. Since the beginning of the year, the Dax has gained around eleven percent. The leading Eurozone index EuroStoxx 50 lost 1.89 percent to 3924 points.

Dax, Dow and stocks at a glance:

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Bitcoin is hovering around $ 54,000

After the price slide of more than 10 percent from the previous day, there was little movement in the cryptocurrency Bitcoin on Wednesday.

The oldest and most important cyber currency continued to hover around the $ 54,000 mark on Wednesday.

Ethereum also came under heavy pressure after Friday's record high.

Merck and Post up by the numbers

Among the individual stocks on the German stock market, the focus is again on a whole series of company figures and outlooks. After strong key figures for the first quarter and concrete annual targets, the shares of the pharmaceutical and specialty chemicals manufacturer Merck KGaA could make up for their share price slide from the previous day. Morgan Stanley analyst James Quigley praised the strength in the first quarter. The stock could at least make up for its previous day's losses, he expects. In addition, according to him, the average analyst estimate for the adjusted operating profit for the year should now rise. On the trading platform Tradegate, the shares rose significantly compared to the Xetra market close on Tuesday.

After its first quarter, Deutsche Post has also become even more optimistic for the year as a whole and has raised its estimate for earnings before interest and taxes.

The logistics group also became even more confident about the free flow of cash.

The share rose.

The energy group Siemens Energy, meanwhile, was able to significantly improve profitability in its second fiscal quarter, but sales remained behind the previous year.

Accordingly, the Munich-based company has now capped the upper end of the expected growth range for the 2020/21 financial year as a whole.

The newcomer to the Dax, on the other hand, is sticking to the earnings forecast and this stock also went up before the market.

Wall Street limits losses in late trading

On Wall Street, investors had cashed in mainly in technology stocks.

The main trigger is likely to have been the statements made by former Fed President and current Treasury Secretary of the United States, Janet Yellen.

The latter had said in an interview that the significant increase in US government spending in the corona pandemic should also lead to slightly higher interest rates, while US Federal Reserve President Jerome Powell has not yet given any clear signals for a more restrictive monetary policy.

"The sell-off is followed by recovery. We see an increased willingness to buy", commented portfolio manager Thomas Altmann from QC Partners and sees the "first bargain hunters" returning.

Oil prices continue to rise

Oil prices continued to rise in early trading on Wednesday. In the morning, a barrel (159 liters) of North Sea Brent cost 69.47 US dollars. That was 59 cents more than on Tuesday. The price of a barrel of the US West Texas Intermediate (WTI) rose 54 cents to $ 66.23. Oil prices are currently at their highest level since mid-March. The crude oil market is benefiting from the rapidly advancing vaccination campaigns, particularly in the USA and Great Britain. Associated with this is the hope of fewer corona restrictions and thus the expectation of increasing consumption of gasoline and diesel.

The highly tense corona situation in other large oil-consuming countries such as India or Brazil represents a counterbalance. The high daily new infections also dampen the mood on the oil market, as they are accompanied by a noticeably reduced energy consumption.

Nevertheless, the Opec + oil network wants to expand its production starting in May.

Wild fluctuations: Biontech share recovers from price slide

There were again strong fluctuations in the shares of the German vaccine manufacturer Biontech: A media report on the imminent release of the coronavirus vaccine from Biontech in the USA for children from the age of twelve ensured that the shares of the Mainz-based biotech company listed in the USA were temporarily suspended on Tuesday had risen to a record high of 185 euros.

In late trading, however, profit-taking resulted in price losses of up to 13 percent.

On Wednesday morning, some investors took hold of it again, the Biontech share rose by 6 percent to 158 euros.

with news agencies

Source: spiegel

All news articles on 2021-05-05

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