MARKET EUROPE / DAX remains above 14,000 – Ifo does not set any accents | News

FRANKFURT (Dow Jones) – By Monday noon, European stock markets will return from daily highs, but the DAX may remain above 14,000. The surprising increase in the Ifo index may only temporarily push the DAX up. Instead of a drop to 91.2, the research institute recorded an increase to 93. However, this is mainly due to an assessment of the current situation, the expectations component turned out to be only slightly higher than estimated.

The DAX rose by 0.7 percent to 14,079 points and the Euro-Stoxx-50 by 0.4 percent to 3,673 points. The high number of acquisitions at the company level essentially supports the sentiment. “With rising interest rates, there is a last-minute panic among financial investors – there will likely be many more acquisitions,” says the trader. Meanwhile, the euro rose to USD 1.0672 – ECB president Christine Lagarde assumes that the ECB will probably double the deposit rate by September.

The wind industry with Siemens Gamesa in the spotlight

As an industry, the focus is on wind turbine manufacturers. Here, Siemens Energy submitted the expected takeover bid for Siemens Games for EUR 18.05 per share. They jumped 6.2 percent to 17.79 euros. Meanwhile, Siemens Energy fell by 1.4 percent. According to Bernstein, the desired positive synergy effects are optimistic.

Globally, the entire industry is supported by Australia. The Labor Party won the parliamentary elections there and through investment it wants to make the country a “superpower” for renewable energy. This is said to create opportunities for all producers. As a result, Vestas, Nordex and SMA Solar are also growing 5.4%.

Manz attracts visitors with the entrance of the Daimler Truck. The rate gains 13.4 percent to 43.90 euros. “The entry is a surprise,” said one dealer. After Deutsche Euroshop, Monday was the second example that first companies are now attractive after sharp drops in prices. Manz’s share price has dropped by more than half from the end of last June at times. The concerted collaboration with Daimler Truck in the battery industry is also positive for automation specialist Manza.

In turn, the car supplier Leoni lost 5.6 percent. The company announced over the weekend that it is negotiating refinancing. Equity measures such as capital increases or convertible bonds are also possible.

Investors want a majority in Deutsche Euroshop

At Deutsche Euroshop, prices exploded from 40.8 percent to 22.02 euros. Investors Oaktree and Cura, the family office of Otto’s mail order company, want to take over the majority of the shopping center investor for almost 700 million euros. A consortium of bidders has announced a bid for all of the company’s outstanding shares at a cash price of PLN 21.50 per share, plus dividends. The offer is a strategic investment.

Development companies are identified as successive acquisition targets. According to sources, the US chip maker Broadcom is negotiating the purchase of VMware. It would be one of the biggest deals of the year. VMware Inc, which spun off Dell just over six months ago, has a market value of $ 40 billion. Broadcom is going to be around $ 222 billion. Industry and related stocks such as Nemetschek, Atoss Software and Cancom rose by up to 1.7%.

===

Stock index last + / -% absolute + / -% YTD

Euro Stoxx 50 3 675.79 + 0.5% 18.76 -14.5%

Stoxx 50 3 586.04 + 0.6% 21.23 -6.1%

DAX 14 096.50 + 0.8% 114.59 -11.3%

MDAX 29 401.22 + 0.7% 201.27 -16.3%

TecDAX 3,094.84 + 0.7% 21.58 -21.1%

SDAX 13 369.54 + 1.3% 172.23 -18.6%

FTSE 7 467.67 + 1.1% 77.69 + 0.1%

CAC 6 302.55 + 0.3% 17.31 -11.9%

Fixed Income Market Latest Absolute +/- YTD

10-year return from Germany 0.98 +0.04 +1.16

10-year US yield 2.83 +0.04 +1.32

FOREX last +/-% Mon 8:02 Fri 17:20% YTD

EUR / USD 1.0670 + 1.0% 1.0598 1.0553 -6.2%

EUR / JPY 136.01 + 0.7% 135.47 134.99 + 3.9%

EUR / CHF 1.0309 + 0.1% 1.0298 1.0296 -0.6%

EUR / GBP 0.8479 + 0.3% 0.8440 0.8472 + 0.9%

USD / JPY 127.51 -0.3% 127.51 127.91 + 10.8%

GBP / USD 1.2584 + 0.8% 1.2547 1.2455 -7.0%

USD / CNH (offshore) 6.6565 -0.6% 6.6646 6.7086 + 4.8%

Bitcoin

BTC / USD 30 425.85 + 1.5% 30 172.40 29 161.49 -34.2%

ROHOEL the last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 111.36 110.28 + 1.0% 1.08 + 53.0%

Brent / ICE 113.91 112.55 + 1.2% 1.36 + 49.9%

METALS last day before +/-% +/- USD% YTD

Gold (spot) 1,860.71 1,846.60 + 0.8% +14.11 + 1.7%

Silver (Spot) 22.13 21.71 + 1.9% +0.42 -5.1%

Platinum (Spot) 976.96 953.16 + 2.5% +23.80 + 0.7%

Future Miedź 4.31 4.27 + 0.7% +0.03 -3.3%

===

Contact to the author: manuel.priego-thimmel@wsj.com

DJG / mpt / once

(END) Dow Jones Newswires

May 23, 2022 6:56 AM ET (10:56 GMT)

Selected Leverage Products at ATOSS Software AGWith knockouts, speculative investors can disproportionately participate in price movements. Simply select the desired leverage and we will show you the appropriate open-end products at ATOSS Software AG

The leverage must be between 2 and 20

No data

Leave a Comment