Stock exchange in Frankfurt: Dax weakens a little after an intermediate high

The Dax started the new trading week on Monday with moderate losses.

Stock exchange in Frankfurt: Dax weakens a little after an intermediate high

The Dax started the new trading week on Monday with moderate losses. Purchasing manager indices from the euro zone had little discernible impact on prices.

Just under an hour after the start of trading, the leading German index was down 0.21 percent at 14,498.47 points. The MDax of medium-sized stocks lost 0.10 percent to 26,158.20 points. The Eurozone leading index EuroStoxx 50 fell by 0.03 percent to 3976.77 points.

Last week, the Dax missed the ninth winning week in a row by just a few points, although on Friday it had reached 14,584 points, another high since June. With a slight plus at the end of trading, it defied a strong US employment market report, which again fueled fears about future US monetary policy.

On the German stock market, the focus was on the online broker Flatexdegiro. After the profit warning that became known at the weekend and criticism from the German financial regulator Bafin, which had identified deficiencies in organization and corporate management during a special audit, the share price collapsed by up to 38 percent and reached its lowest level since the outbreak of the corona pandemic March 2020. Most recently, the shares were still around 26 percent in the red, but were still at the bottom of the SDax small-cap index.

At the end of the Dax, the Bayer titles continued their recent series of losses with minus two percent. After a good run at the end of the MDax, Rational fell by around seven percent after Bank of America expressed skepticism about the large kitchen appliance manufacturer in an initial study.

However, positive analyst statements gave a boost to some auto stocks. With a price increase of a good six percent, Vitesco shares were among the SDax favorites after the US bank JPMorgan upgraded the supplier as part of an industry study. In the Dax, the shares of the Volkswagen umbrella company Porsche SE benefited from a new buy recommendation from HSBC: They gained 0.8 percent. The Volkswagen preferences increased in price by 1.2 percent.

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