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Stock exchange: Dax at record high, Bitcoin with price slide, Rivian share with price rally

2021-11-11T15:09:10.092Z


The hunt for records continues on the German stock market. Shares in Siemens and Delivery Hero gain. In the United States, Tesla and stock market rookie Rivian are continuing their price rally. Meanwhile, Bitcoin is giving way.


Deutsche Börse in Frankfurt am Main:

The Dax rises to 16,114 points

Photo: Frank Rumpenhorst / picture alliance / dpa

On Thursday, the Dax hit a record high for the fourth time in six days on the German stock market.

The German leading index set a new record with just under 16,115 points, but quickly lost momentum.

Most recently, the stock market barometer recorded a gain of 0.10 percent at 16,083 points.

The Dax has been hovering in a fairly narrow range since the end of last week.

A number of positive quarterly reports created a good mood among investors.

However, investors are concerned that inflation in the USA has recently accelerated further.

The MDax of the medium-sized stock market stocks lost 0.31 percent to 35,878.41 points.

The leading Eurozone index EuroStoxx 50, on the other hand, hardly moved from the spot.

Figures from Siemens, Delivery Hero and Merck

In the Dax, the business figures of Delivery Hero, Merck KGaA and Siemens recently made the greatest impression.

After a strong performance in the past fiscal year

, the technology group

Siemens

wants to

further increase sales and profits.

The Delivery Service

Delivery Hero

is a little more optimistic in its annual targets.

The shares of Siemens and Delivery Hero each gained around one percent.

The fight against the corona pandemic

is continuing to provide momentum

for the pharmaceutical and specialty chemicals group

Merck KGaA

.

In terms of the operating result and the bottom line, however, the Südhessen had to accept losses in the third quarter, as they had benefited from a high special income in the previous year.

In this respect, the papers fell at the end of the Dax by more than 2 percent.

Westwing and GFG with course slide

At the bottom of the list in the MDax, the shares of

K + S

plummeted

by 7.5 percent. The fertilizer company cannot dispel the Bafin’s doubts about the amount of billions in write-offs in 2020. The examination of the suspicion by the German Accounting Inspectorate is ongoing. The Group rejects the allegations as unfounded - also including an analysis by an external auditor. Meanwhile, in day-to-day business, the people of Hessen benefit from high fertilizer prices.

In the SDax small cap index,

Westwing's

shares plummeted

by more than 16 percent.

The global supply chain problems are worrying the online furniture retailer and are making them more pessimistic about the year as a whole.

Higher costs for ocean freight containers are likely to last longer: According to the company, the development will lead to lower gross and profit margins until at least the first half of 2022.

USA: Dow and Nasdaq start recovery attempt

After the previous day's losses, the US stock markets returned to forward gear on Thursday.

However, the current interest rate and inflation concerns are by no means off the table.

Investors expected tighter monetary policy sooner rather than later, it said from the trade.

Because the unexpectedly high US consumer prices on Wednesday had dealt a blow to the assessment of the US Federal Reserve that inflation was only temporary.

The

Dow

Jones was

last listed with a minimal plus to 36,121 points.

The technology-

heavy Nasdaq 100

recently gained 0.8 percent.

Tesla gains, Musk sells shares

After his sensational Twitter vote, Tesla boss Elon Musk turned his company's shares into cash for the first time in years.

From Monday through Wednesday, he sold roughly $ 5 billion worth of Tesla shares after redeeming some of his stock options.

Musk intends to use the proceeds to settle tax debts.

The Tesla papers rose in pre-market trading by 3.3 percent.

Rivian shares rally after their stock market debut

After the impressive stock market debut of Rivian shares the day before, the electric car manufacturer's stocks should continue to climb steeply.

They were already traded 8.3 percent higher before the trading day.

On Wednesday the shares started at a price of 106.75 euros.

Based on the issue price of $ 78, this was a premium of almost 37 percent.

At the end of trading, they had cost $ 100.73.

The group is already valued at more than 100 billion US dollars - even though it has not yet sold a car.

Setback for Walt Disney

Investors should focus on Walt Disney among the individual stocks.

The US entertainment giant performed worse than expected in the past fiscal quarter.

The streaming business for the Disney + video service was a particular disappointment for investors.

In view of the lack of film and series hits, only 2.1 million subscriptions were added - significantly fewer than analysts had forecast.

The shares reacted early on the market with a price discount of 5.7 percent.

Asia’s stock exchanges are mostly positive

Investors in Asia grabbed stocks again on Thursday. The Chinese stock exchanges sent positive impulses. The Japanese leading index

Nikkei Index

gained 0.6 percent to 29,277 points. The

CSI-300 index

, which includes the 300 most important companies from mainland China, rose 1.6 percent to 4898 points. In the Chinese special administrative region of Hong Kong, the

Hang Seng index

advanced

by 1.2 percent to 25,310 points.

Shares in China rose after speculation surfaced that the state was seeking to ease the liquidity squeeze of troubled real estate companies like Evergrande.

In the meantime, Evergrande has apparently once again made room for itself with another interest payment on US dollar bonds.

Customers of the custody and payment processing company Clearstream received coupon payments for three such bonds, reported the Bloomberg news agency.

In addition, two investors have confirmed that they have received the money.

The Evergrande papers traded in Hong Kong recently climbed almost 6 percent.

Bitcoin suffers from profit taking

Bitcoin, the world's most famous digital currency, has stopped soaring.

The cryptocurrency fell significantly on Thursday night after reaching a record level of just under 69,000 US dollars on Wednesday.

Most recently, the cyber currency was quoted on the Bitstamp trading platform at $ 65,500.

Oil prices stabilize after losses

Oil prices stabilized on Thursday after falling significantly the day before.

In the morning, a barrel (159 liters) of North Sea Brent cost US $ 82.71.

That was seven cents more than on Wednesday.

The price of a barrel of the American West Texas Intermediate (WTI) also rose slightly to $ 81.45.

Crude oil prices came under significant pressure on Wednesday after US inflation figures for October were released.

At 6.2 percent, the inflation rate marked a 31-year high.

According to the data, the US dollar appreciated, which made oil more expensive for investors outside the dollar area and weighed on their demand.

The background to the strength of the dollar is the rise in interest rate expectations from the US Federal Reserve.

New inventory data from the USA also weighed on oil prices.

The US Department of Energy reported moderately increasing stocks of crude oil on Wednesday.

It was the third consecutive week increase.

The growing reserves are somewhat dampening the worries about insufficient crude oil supply, which had recently dominated the market.

With news agencies

Source: spiegel

All news articles on 2021-11-11

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