The Limited Times

Now you can see non-English news...

Adler Real Estate Group share with price jump: Vonovia before entry despite short sales of Fraser Perring

2021-10-08T18:10:53.622Z


Before the US job data on Friday, DAX investors wait once. The Adler Group's share is in the spotlight again after its price plunge: Vonovia sees the opportunity to get involved in the competitor and could thus thwart the plans of the short seller Fraser Perring.


Enlarge image

Price table

in Frankfurt:

The Dax has stabilized after its price slide

Photo: Boris Roessler / dpa

At the end of the trading week, the Dax will start a little lower on Friday. On Thursday, in response to previous losses, he closed just under two percent up at 15,250.86 points. The EuroStoxx 50 also has hardly changed. On Wall Street, the agreement in Congress on a compromise to raise the debt ceiling had created a buying mood.

Investors focus on the official US afternoon employment figures (CEST).

After the surprisingly strong figures from the private employment agency ADP on Wednesday, they expected a confirmation of the assessment that the job market is clearly recovering, said analyst Ricardo Evangelista of the brokerage firm ActivTrades.

This could give the US Federal Reserve the green light to curb its asset purchases.

Experts expect 500,000 jobs to be created in September, around twice as many as in the previous month.

All indices and stocks at a glance:

Click here to go to our stock exchange page

Adler shares jump in price - Vonovia sees an opportunity to enter

At the end of the week, the Adler Group real estate group is once again the focus of the individual values. After the short seller attack on the Adler Group, Germany's largest housing group Vonovia apparently sees the opportunity to enter the smaller competitor. The major Luxembourg shareholder of Adler,

Aggregate Holdings, announced on Thursday evening that Vonovia had acquired a purchase option on 13.3 percent of Adler's shares

. That would be half the share that Aggregate had last reported. The price was "well above the last closing price of the Adler share," said the announcement. The paper, which came under fire from British investor Fraser Perring, closed on Thursday evening with an increase of 15 percent at 11.55 euros.

According to Aggregate, the purchase option has a term of 18 months.

It comprises around half of the block of shares that the real estate investor holds in the Adler Group.

The Austrian investor Günther Walcher is behind Aggregate.

Vonovia did not initially confirm the purchase option.

Adler announced on Monday that it might sell a large part of its 70,000-unit housing stock.

Interested parties have already reported.

A negative report from Viceroy by British investor and short seller Fraser Perring caused Adler stocks to collapse on Wednesday, the stock suffering the biggest daily loss in history.

With a possible entry by Vonovia, the share could now gain significantly again and thwart the short seller's plans.

The Vonovia real estate group has also further expanded its stake in competitor Deutsche Wohnen.

After the regular acceptance period for the offer to Deutsche Wohnen shareholders of EUR 53 per share, Vonovia now holds 60.3 percent of the voting rights.

Vonovia has also extended the acceptance period to October 21.

Financial investors plan to take over Aareal Bank

According to a Bloomberg report, Aareal Bank, which is listed in the SDax small cap index, has come into the focus of financial investors.

A consortium around the investment companies Advent and Centerbridge are considering taking over the real estate financier.

Aareal Bank confirmed corresponding discussions with the investor group in the afternoon.

The shares listed in the SDax rose by almost 20 percent.

Asia's stock exchanges are clearly in the black - but the Evergrande crisis continues to smolder

Wall Street gains have also given the Asian stock exchanges momentum at the end of the week.

The Nikkei Index climbed 1.5 percent to 28,089 points.

The broader Topix advanced 1.2 percent.

After a one-week break, Chinese investors also returned and brought the Shanghai stock exchange a plus of 0.5 percent shortly before the weekend.

However, the buying mood was slowed down by the smoldering debt crisis in Evergrande. The real estate company's shares have been suspended since Monday in anticipation of a possible stake sale, but fears of the company's collapse remain. Evergrande has more than $ 300 billion in debt. Stockbrokers worry that the entire real estate industry could collapse if Evergrande goes bankrupt.

Real estate bonds and stocks went downhill on Friday.

The CSI 300 Real Estate Index fell 1.6 percent.

Bonds from real estate companies such as Fantasia Holdings Group, Xiamen Yuzhou Grand Future Real Estate Development Co, China Aoyuan Group and Guangzhou R&F Properties Co fell between 55 and 4 percent

.

Evergrande's smaller rival Fantasia had missed a deadline for interest payments.

Dow Jones and Nasdaq up: breathing space in the US debt drama

Wall Street's rebound on Thursday followed an offer by Republicans not to block the US debt ceiling suspension until December.

Earlier, Treasury Secretary Janet Yellen had once again warned of a possible financial crisis and recession if the US government were to fail to service its debts for the first time.

According to your ministry, the US could run out of money by October 18.

The

Dow

Jones

and tech-heavy Nasdaq 100 continued their rebound on

Thursday

.

Both indices rose

Bitcoin close to $ 55,000

In the digital currency market, the upward trend has continued at an accelerated pace.

Bitcoin

, the

oldest and largest in terms of market value

, rose over $ 55,000 on Wednesday for the first time since May. A maximum price of $ 55,500 was reached on the Bitstamp trading platform in the afternoon. Bitcoin gave way again on Thursday, hovering around the $ 54,000 mark. Other digital stocks such as Ether, XRP or Dogecoin also continued to grow. According to the Coinmarketcap website, the market value of all around 12,000 crypto investments was just under $ 2.3 trillion.

Just a few weeks ago, China was causing a nuisance with its usual critical comments.

Recently, on the other hand, there were more moderate tones from the USA: The Fed is in favor of state regulation, but according to its boss Jerome Powell, unlike China, wants to refrain from bans.

Compared to China, the US is also more cautious when it comes to the question of a state-controlled cryptocurrency.

The People's Republic is well advanced with its digital yuan project.

The Federal Reserve is approaching the issue of its own digital currency much more cautiously.

A little further is the European Central Bank (ECB), which is at least considering a digital euro.

Oil prices are rising again and are just below multi-year highs

Oil prices rose noticeably in early trading on Friday.

It is not far to the multi-year highs marked this week.

In the morning, a barrel (159 liters) of North Sea Brent cost US $ 82.95.

That was exactly a dollar more than on Thursday.

The price of a barrel of the American West Texas Intermediate (WTI) rose by $ 1.10 to $ 79.40.

The main driver of crude oil prices remains the tight supply situation.

It had driven prices to multi-year highs this week before a correction set in.

Decisive for this were statements from Russia, which suggested a high gas supply to Europe.

According to experts, the currently high gas prices are also having an impact on the oil market, since crude oil can serve as a gas substitute within certain limits.

Speculation that the USA could release part of its strategic oil reserves had also caused some temporary strain.

On Thursday, however, the Department of Energy made it clear that this was not currently planned.

As a result, oil prices rose noticeably.

la / dpa-afx

Source: spiegel

All news articles on 2021-10-08

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.