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Trader at the German stock exchange in Frankfurt am Main:
With the government coalitions now possible - Groko, Ampel or Jamaica - the
stock exchange traders
can live well
Photo: Frank Rumpenhorst / picture-alliance / dpa
The Dax is expected to be slightly higher on Monday after the SPD's narrow victory in the federal elections.
A good two hours before the Xetra start, broker IG valued the German leading index with a plus of 0.44 percent to 15,600 points.
On Friday it closed 0.7 percent in the red at 15,530.75 points.
According to the preliminary result, the Social Democrats, along with
Olaf Scholz, are
the strongest party. Nevertheless, on the evening of the election, not only Scholz but also
Armin Laschet
from the CDU
claimed
the contract to form a government for himself. Both are striving for a coalition with the Greens and the FDP. Difficult coalition negotiations are looming. If there is no new grand coalition of the SPD and CDU, Germany will in future be governed by a three-party alliance.
"The election results will be received calmly in the financial markets," commented Thomas Gitzel, chief economist at VP Bank in the morning.
"A left-wing alliance is ruled out. The greatest risk has thus been eliminated from the financial market point of view. But it is also clear that a significant break in the previous government work is not to be expected."
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Evergrande electric car shares plunge
In addition, stockbrokers are also closely following the drama surrounding the Chinese crisis group Evergrande.
The real estate company, which is in debt with USD 305 billion, last week allowed the deadline for an interest payment on a dollar bond to pass without comment.
The company still has around four weeks to do this before the default becomes official.
In the coming days, Evergrande will have to raise additional millions for interest.
Meanwhile, shares in the company's electric car division, New Energy Vehicle, temporarily plunged 26 percent on Monday after the company warned of a liquidity squeeze.
Oil prices at three-year high
A tight supply is driving the oil price to ever new heights.
The Brent variety from the North Sea gains almost 2 percent and at 79.52 dollars per barrel is as high as it was three years ago.
"The current supply deficit is higher than we had expected," write the analysts at Bank Goldman Sachs. Demand is recovering from the consequences of the spread of the delta variant of the corona virus faster than expected.
Therefore, they trusted Brent to price 90 instead of 80 dollars a barrel by the end of the year.
Asian stock exchanges with profits
Asian stocks rose on Monday despite the surge in oil prices.
The Nikkei index, which comprises 225 values, was 0.4 percent higher at 30,359 points.
The broader Topix index rose 0.4 percent to stand at 2098 points.
The Shanghai stock exchange was 0.4 percent in the red.
The index of the most important companies in Shanghai and Shenzen gained 1.2 percent.
Bitcoin is recovering again
The cryptocurrency Bitcoin recovered from its price slide on Friday.
The largest and most important cyber currency was recently quoted almost 5 percent higher at 44,000 US dollars.
On Friday, China declared all cyber currency activities illegal and prohibited foreign crypto exchanges from providing any services to customers in China.
Offenses would be punished severely.
dpa-afx, Reuters
