On Monday, the Dax almost made up for its Friday losses. The leading German index rose in early trading by 0.64 percent to 13,660.40 points and thus continued the overall friendly first week of August. The MDax of medium-sized companies rose in the morning by 0.20 percent to 27,828.29 points. The Eurozone leading index EuroStoxx 50 gained 0.60 percent to 3747.88 points.
However, Jochen Stanzl, analyst at broker CMC Markets, remains cautious: “This week all eyes will be on the new data on inflation in the USA. After the strong US labor market data from the USA, the US Federal Reserve should continue to work at full steam act in their quest to fight inflation and raise interest rates aggressively.” That could spook investors again.
JPMorgan’s market strategists remain bullish on equities heading into the year-end. Expert Mislav Matejka expects the US Federal Reserve to act much more cautiously and data-related after a major interest rate hike in September.
Mixed news came out of China on Sunday: stronger-than-expected export growth in July gave the country’s economic recovery a boost. Experts had predicted a slowdown.
Among the individual stocks, the utilities stood out, and they continued to be strong: Eon rose by almost three and a half percent and RWE by a little more than two and a half percent. Morgan Stanley, meanwhile, has become more bullish on Eon stock, upgrading it to equal-weight. The analysis house Jefferies reiterated the buy recommendation for the RWE paper and further raised the price target.
The shares of Siemens Energy attracted attention from the MDax. They lost around two and a half percent after another reduction in annual targets.
The VW holding company Porsche SE, which can be found in the Dax, also wants to present its quarterly report in the course of the morning. The financial service provider Hypoport reported detailed figures that corresponded to those previously published from the SDax. The shares still lost one and a half percent.
Takkt fell by almost five percent in the SDax small-cap index. Analyst Catharina Claes from the private bank Berenberg canceled her buy recommendation for the papers of the office and restaurant outfitter.
