The Dax is on a consolidation course on Monday after seven weeks of price gains. In the first hour of trading, the leading index recorded a minus of 0.34 percent to 14,382.67 points. Regardless of the current discounts, the upward momentum remains, said Jochen Stanzl from broker CMC Markets: "The upward trend in the Dax is intact." Support is currently also coming from falling oil prices.
The Eurozone leading index EuroStoxx 50 has developed just as strongly as the most important German price barometer in the past few weeks, which also fell slightly on Monday at minus 0.3 percent. The MDax of medium-sized stocks fell by 0.43 percent to 25,636.10 points.
Producer prices from Germany for October indicated that price pressure was easing. According to Commerzbank, the data gave hope that consumer prices would soon peak.
The corona situation in China caused some unease at the start of the week, where the first corona death in a good six months was reported on Sunday against the background of increasing numbers of infections. Investors now fear that the country could tighten the reins again after recent cautious signals of a certain opening.
There was little company news on Monday. The Linux software specialist Suse sent positive signals with strong business development in the quarter and an optimistic outlook. The papers listed in the SDax gained 4.7 percent.
In the Dax, investors at Siemens, Covestro and Symrise took profits after a recent strong run, the titles lost up to 1.9 percent.
Hellofresh increased by 3.9 percent in the MDax. Goldman Sachs rated the shares as "buy". Analyst Rob Joyce wrote that the recipe box mail-order company has proven that it can operate profitably and skim off cash. The titles of the software manufacturer Teamviewer benefited from a positive investment recommendation from Barclays with a plus of 3.2 percent.
Rheinmetall was also in demand with a plus of 1.8 percent. Deutsche Bank recommends buying. Analyst Christoph Laskawi refers to the medium-term goals of the company and sees the papers of the armaments group as good protection against negative economic trends in the coming year.
