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Trader on the stock exchange: Tesla dives, oil prices collapse
Photo: Brendan McDermid / REUTERS
After seven weeks of price gains, the
Dax
embarked on a consolidation course on Monday.
The leading index lost 0.36 percent to 14,380 points at the end of Xetra trading (5:30 p.m.).
The
MDax
fell by 0.77 percent to 25,547 points.
The
EuroStoxx 50 said
goodbye 0.40 percent lower at 3909 points.
Producer prices from Germany for October had previously indicated that price pressure was easing.
According to Commerzbank, the data gave hope that consumer prices would soon peak, even if the inflation problem was far from over.
The corona situation in China, where the number of infections is rising again, caused unease at the start of the week.
After the first fatal corona cases in months, schools in Beijing in several districts started the new week with online lessons on Monday.
A second death related to the virus was reported in the Chinese capital after one on Saturday – the first time in China since the end of May.
Profit-taking at Siemens and Covestro
The Linux software
specialist Suse
sent positive signals to the German stock market with a strong quarterly development and an optimistic outlook.
The papers listed in the SDax small-cap index gained 3.5 percent.
At
Uniper
, the bottoming out continues to take shape.
The papers of the energy company rose again at the top of the SDax by around a quarter of their value to 6.85 euros.
In the meantime, in the course of the gas crisis and the end of Nord Stream 2 in 2022, they had lost around 94 percent to a record low of 2.55 euros.
In the Dax, investors took profits in the shares of the plastics
group Covestro
and the flavor manufacturer
Symrise
as well as in the
Siemens
papers after a recent strong run, the titles lost up to 3.5 percent.
Shortened Thanksgiving week
The US stock exchanges also got off to a slow start in the shortened Thanksgiving week.
However, stockbrokers expect that the recent increase in the
Dow Jones Industrial
to a three-month high will be further consolidated.
The leading index has gained almost 18 percent since mid-October.
Disney with share price rally, Tesla with price drop
On the corporate side, Walt Disney
shares
took center stage, jumping 6.8 percent.
A surprising change of boss gave a boost.
Longtime CEO Bob Iger is returning to the helm of the entertainment giant following the resignation of Bob Chapek.
In contrast, the shares of the US electric car manufacturer Tesla accelerated their recent fall in price and fell by a further 6 percent to 170 US dollars.
Since the beginning of the year, Tesla has already lost more than 50 percent of its market value.
Tesla boss Elon Musk is now not considered a savior, but rather a risk for Tesla.
Tesla is also recalling 321,000 vehicles in the United States because of a malfunction in the taillights.
The tail lights could fail on some Model 3 and Y cars, the company said in a statement to the NHTSA.
The defect should be fixed with a software update.
According to NHTSA data, Tesla has already announced 19 recalls in the USA this year, affecting a total of 3.7 million vehicles.
The minutes of the meeting of the US Federal Reserve, which are expected on Wednesday, are likely to be checked again critically for possible signals from the central bankers.
In December, an interest rate decision is still pending this year.
In the course of the week, various purchasing manager indices could point the way for monetary policy and thus also for the stock markets.
The reporting season for companies has meanwhile largely come to an end, and the headlines are likely to be far fewer here.
Stock exchanges in Asia hardly changed
Asia's major stock exchanges fell slightly on Friday.
The CSI 300 index, which lists the top 300 Chinese companies on the mainland stock markets, fell 0.2 percent and the Hang Seng index in Hong Kong SAR fell half a percent.
In Japan, the Nikkei Index, which comprises 225 stocks, closed 0.1 percent lower.
There were moderate gains in Australia.
Bitcoin at times below US$ 16,000 - low for the year
The world's best-known digital currency, Bitcoin, remains under pressure and was last quoted at US$ 16,100 on the Bitstamp trading platform.
At times, Bitcoin was also listed below the 16,000 mark.
The cryptocurrency has been in a downtrend since the beginning of the year.
Bitcoin hit a record high of $69,000 in November last year.
Oil prices fall sharply
Oil prices collapsed on Monday.
Market observers referred to a press report about a possible increase in production by the oil network Opec +.
A barrel (159 liters) of North Sea Brent cost $82.95 in the afternoon.
That was $4.67 less than Friday.
The price of a barrel of West Texas Intermediate (WTI) fell by $4.46 to $75.62.
The "Wall Street Journal" had reported on a possible fundamental change in Opec+ funding policy.
The leading OPEC country Saudi Arabia is therefore discussing with other OPEC countries an increase in production by 500,000 barrels per day.
The members of the oil cartel and other important producing countries, including Russia, are organized in Opec+.
With an increase in production, a political rift that had recently emerged between the United States and Saudi Arabia could be closed somewhat, the newspaper report said.
Most recently, Opec+ decided to reduce production by an average of two million barrels a day from November in order to support prices.
The US government criticized this as a mistake.
With news agencies