Dax continues to climb and remains on the up

Frankfurt The relaxation of the coronavirus restrictions and the hope of a relaxation of the customs dispute between the USA and China give the Dax a boost. The leading German index rose 1.2 percent on Friday morning to 10,894 points. Around noon, it was still up 0.8 percent at 10,853 points.

Stock marketers rated high-level phone call between the US and China positive, in which both sides agreed on closer cooperation in the implementation of the agreed trade agreement. This should end the smoldering dispute over tariffs and market access since US President Trump took office.

Chinese exports rose unexpectedly by 3.5 percent in April. Analysts had expected a slump of almost 16 percent. “Since expectations are so low, any positive news is welcome,” said financial market expert Rick Meckler from asset manager Cherry Lane. “Negative messages, on the other hand, are pushed aside to a certain extent.”

The However, the main focus is on the official US employment figuresthat are expected for the afternoon of German time. Experts predict that 22 million jobs will be lost in the corona pandemic after the figures from the private employment agency ADP on Wednesday signaled the loss of around 20 million jobs. The previous negative record from 2009 is 800,000 job cuts.

Qiagen shares continued to soar on individual stocks. They rose by one percent and, at € 39.29, were as expensive as they were last 19 years ago. The German-Dutch laboratory supplier is one of the clear beneficiaries of the virus pandemic.

A stockbroker referred to media reports that the US company Thermo Fisher could improve its takeover offer for the group. Given the surge in sales of coronavirus test kits, a premium would certainly be appropriate, he said.

In addition, the Dax heavyweight Siemens was one of the favorites on the German stock market. On Friday there was a price increase of 3.9 percent. The industrial group’s sales, profits and order intake declined. The bank’s quarterly figures were better than expected, praised analyst Simon Toenessen from investment bank Jefferies.

In the middle of the largest restructuring in the company’s history and the corona crisis, the technology group presented the balance sheet for the second quarter of the 2019/20 financial year. CEO Joe Kaeser had already warned that the pandemic had hit demand in key regions and industries.

Nevertheless, Siemens, which also has many long-running large orders on the books, should come through the uncertain times comparatively robustly. For the second quarter, analysts had previously expected an average of a good 20 billion euros in sales and an operating margin of 8.5 percent. Siemens plans to launch the energy division on the stock exchange in the fall, which represents 40 percent of group sales.

Look at the individual values

Wirecard: For the recently badly battered payment service provider, things went up again on Friday. The price rose by almost four percent to more than 87 euros. The previous day it had dropped below the resistance level of 85 euros.

Zalando: The fashion retailer’s stock is currently zigzagging on the stock exchange. After the figures for the first quarter of 2020 were announced, they had risen to a new all-time high yesterday. On Friday, however, she gave in clearly. The analysts at Hauck & Aufhäuser had previously devalued Zalando from “buy” to “hold”. However, the private bank raised the Zalando price target from 48 to 52 euros.

The online fashion retailer’s final figures were slightly better than the preliminary figures, according to Friday’s interpretation. The outlook for 2020 is also encouraging. However, the stock is now valued appropriately, the analysts justified their new vote. The Zalando share had rallied since the end of March and had risen by more than 80 percent with the new all-time high.

Look at other asset classes

For the first time in two and a half months, the Bitcoin price is again above the $ 10,000 mark. The oldest and most important cryptocurrency rose by almost three percent and rose to $ 10,078 according to an index.

According to data provider Coinmarketcap, which evaluates most crypto exchange prices, Bitcoin still scratched the $ 10,000 mark on Friday. If he permanently jumps over the psychologically important yardstick, observers expect another upward course.

“The euphoria about the upcoming halving inspires,” said analyst Timo Emden from Emden Research. This is how experts describe the automatic halving of the amount of Bitcoin that the producers of the decentralized currency, the so-called “miners”, receive for their maintenance of the database within a certain period of time. The upcoming reduction in their remuneration is anchored in the Bitcoin algorithm and is intended to prevent inflation. On Tuesday, May 12th, it should be ready.

“In 2020 we will see continued volatility in the markets”

Dominik Poiger, portfolio manager at US investment firm Van Eck, said that the result of the “halving” would further reduce the inflation rate of the cryptocurrency at a time when central banks were flooding the markets with money on an unprecedented scale. “With an inflation rate that should drop from about 3.6 percent to about 1.7 percent after the halving, the cryptocurrency Bitcoin is below the 2 percent targets that many central banks have defined as an inflation target,” said Poiger.

Requirements from overseas

Prices on the Asian stock exchanges also rose on Friday in the wake of Wall Street. Positive signals from talks on trade relations between the United States and China also provided relief.

The Nikkei index, which comprises 225 values, was 1.8 percent higher at 20,026 points. The broader Topix index rose by 1.7 percent and stood at 1451 points. The Shanghai stock exchange rose 0.8 percent. The index of the most important companies in Shanghai and Shenzhen rose 1.1 percent.

The MSCI index for Asian stocks outside Japan fell 0.1 percent. In Asian currency trading, the dollar gained 0.1 percent to 106.36 yen and fell 0.1 percent to 7.0725 yuan. The Swiss currency was 0.1 percent lower at 0.9719 francs. At the same time, the euro rose 0.1 percent to $ 1.0844 and hardly changed at CHF 1.0540. The pound sterling gained 0.3 percent to $ 1.2394.

In the United States, the surprising surge in Chinese exports had encouraged investors to enter the stock market. The sustained wave of layoffs in the US, however, was calm on Thursday. The US leading index Dow Jones closed 0.9 percent higher at 23,876 points. The broader S&P 500 gained 1.2 percent to 2,881 points. The Nasdaq rose 1.3 percent to 9102 points.

With agency material.

Here is the page with the Dax course, here are the current tops & flops in the Dax. Current short sales by investors can be found in our short sales database.

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