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Bitcoin:
The cryptocurrency was trading just below its record high of around $ 65,000 on Monday
Photo: JIM URQUHART / REUTERS
Economic data from China weighed on the Dax on Monday. Around noon, the leading German index lost 0.53 percent to 15,504.44 points. In the previous week it had recovered from a little over 15,000 points to almost 15,600 points in four trading days thanks to a reporting season that had been going well so far. The MDax of the medium-sized German stock exchange companies held up a little better, most recently falling 0.1 percent to 34,341 points. For the leading Eurozone index EuroStoxx 50 it went down by 0.71 percent to 4153 points.
China had slowed significantly in the third quarter with economic growth of 4.9 percent compared to the previous year.
Experts had expected somewhat stronger growth on average.
After a record increase in the first quarter, it is the weakest value so far this year.
The data also put pressure on sentiment at the Asian trading centers - prices on China's mainland stock exchanges were particularly under pressure.
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Deutsche Bank at the top of the Dax
At the top of the Dax, Deutsche Bank continued its most recent profit streak with a price increase of a good 0.8 percent, while Commerzbank papers in the MDax were among the favorites with a plus of over one and a half percent.
Like the rest of the industry, both stocks benefited from ongoing inflation concerns and higher bond yields.
The significant increases in profits, which the US competition had recently reported, also gave further tailwind.
In contrast, the shares in the plastics group Covestro went down by around 0.8 percent.
Here, a canceled buy recommendation from the major French bank Societe Generale weighed on.
The current strong earnings development should provide support in the short term, but there are major risks with a view to China, analyst Thomas Swoboda justified his new assessment.
Teamviewer is looking for a new chief financial officer
Teamviewer is the focus on the German market.
The remote maintenance software specialist is looking for a new chief financial officer.
According to the company, incumbent Stefan Gaiser will leave by mutual agreement when the contract expires in 2022. CEO Oliver Steil remains against it.
The two managers were recently criticized by investors.
"Tamviewer has to get back on track in terms of margins and sales," explained a stock market trader.
It remains to be seen whether this will not require a more extensive renovation.
Before the trading session, the shares on the Tradegate trading platform gained more than one percent.
Befesa in the MDax in front
A positive analyst comment lifts Befesa to the top of the MDax.
The shares of the recycling specialist rise by 3.8 percent to 68.30 euros.
The experts of the US investment bank Goldman Sachs recorded the rating of the stocks as "Buy" and a price target of 91 euros.
Analyst statements also ensured price movements.
Rational stocks rose by almost three percent after the Berenberg private bank had upgraded them and is now advising buyers.
US stock exchanges: Dow Jones and Nasdaq with losses
Concerns about inflation and surprisingly slow economic growth in China are taking the wind out of the sails of Wall Street's recovery rally at the start of the week. The Dow Jones and Nasdaq are expected to show moderate losses each. While good business figures from the large US banks had lifted the mood last week, mixed signals have now come from Asia, said analyst Neil Wilson from Broker Markets.
However, investors had already accessed the previous week after an intermittent price slide.
The Dow Jones had recovered by three and a half percent within three trading days.
Even the record high of 35,631 points is within reach again.
With oil prices soaring, Chevron and ExxonMobil stocks should be watched.
In pre-market trading, both initial profits of around 1 percent were apparent.
Oil prices continued their soaring on Monday with a jump to multi-year highs.
Tesla shares continue to soar and rise near record high
Tesla shares are set to extend their recent winning streak.
In view of the continued rise in oil prices, they rose by a good one percent and approached the $ 850 mark again.
The share has thus climbed back close to its record high of around 890 US dollars, which it had reached in February of this year. Since its interim low in May, the share has already gained around 50 percent in value.
It was only recently that the electric car manufacturer's surprisingly strong delivery figures gave the course fresh impetus.
Bitcoin just below record high of $ 65,000
The hope that a listed Bitcoin future will start soon in the US is keeping the cyber currency within striking distance of its record high. It was trading at around $ 62,000, about $ 3,000 below its April high. Unless the US Securities and Exchange Commission intervenes at the last minute, the ProShares Bitcoin Strategy ETF could start trading on Tuesday. This is a step forward for cryptocurrencies, but not a turning point, says Chris Weston, chief analyst at the brokerage house Pepperstone. After all, there is still a lot of regulatory work ahead of the authorities for this relatively new asset class. The oldest and best-known cryptocurrency received another boost from a report by the Bloomberg news agency on early Friday morning,according to which the US Securities and Exchange Commission (SEC) could approve the launch of exchange-traded funds (ETF) on Bitcoin in the US. Bitcoin reacted with a price jump of a good $ 1000 and then continued to expand profits. Russian President Vladimir Putin also expressed sympathy for crypto currencies in an interview.
The euro recently traded little changed at US $ 1.1608.
The European Central Bank set the reference rate on Friday at $ 1.1602.
On the bond market, the current yield rose from minus 0.26 percent on Friday to minus 0.23 percent.
The Rex bond index fell 0.19 percent to 143.79 points.
The Bund future lost 0.19 percent to 168.98 points.
Oil prices continue to rise, diesel at a record high
Oil prices continued their soaring at the beginning of the trading week. The Brent variety from the North Sea gained 1.4 percent on Monday and, at $ 86.04 per barrel, is as expensive as it was three years ago. The relaxation of the pandemic restrictions is fueling demand, write analysts at ANZ Bank. In addition, electricity suppliers are increasingly switching to crude oil as an energy source, since coal and gas are very expensive. The price of a barrel of the American WTI variety rose by $ 1.24 to $ 83.52. Previously, the price climbed to $ 83.73 early in the morning, the highest level since 2014. The price of diesel fuel also reached a record high on Monday.
While leading industrialized countries are recovering from the economic slump in the Corona crisis, concerns about a supply deficit are increasing on the oil market.
Above all, investors are looking at a shortage of natural gas, which has resulted in an increased demand for crude oil to operate power plants.
Against this background, experts do not rule out a further rise in oil prices.
with news agencies
