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Frankfurt / Main (AP) – The Dax paid homage Monday to the good week before. As a burden proved the latest weak Wall Street, which also squeezed stock prices in Asia. However, the losses of the German advanced index were limited.
One hour after the launch of the stock market, the Dax was down 0.24% to 12,829.75 points. On Friday, he was out with the biggest weekly gain since March and had risen for the fourth consecutive week. If the Dax overcame its current weakness, it could be the best trading month since September 2017 at the end of July.
The other German stock indexes developed differently on Monday morning: while the MDax of medium-sized companies was stable at + 0.22% at 26,981.76 points, the technological index TecDax dropped from 0, 34 percent to 2942.62 points. The EuroStoxx 50 euro zone index lost 0.34% to 3515.08 points.
The Dow Jones Industrial US benchmark fell back on Friday with moderate haircuts and is expected to start the week down again. The losses on the Nasdaq technology exchange had been clearer.
According to badyst Michael Hewson of CMC Markets, the strong performance of technology stocks, which account for much of the recent gains in US markets, is declining. The disappointing predictions of Facebook and Twitter have prompted some investors to break even Netflix's quarterly numbers to question the sustainability of their business models.
At the beginning of a week marked by quarterly figures, German companies started rather calmly Monday: with the mechanical engineering company Gea and the Siemens Healthineers medical technology group, only members of the Second stock market series provided updated figures.
Gea shares continued their recovery with more than 7.02% and were undisputed leaders in MDax. They took advantage of the fact that the presentation of the second quarter results did not reflect a previously feared profit warning.
On the other hand, the shares of Siemens Healthineers were one of the biggest losers of TecDax with less than 1.65 percent. Only last Thursday, they had reached the peak of their recent stock market history. Net income decreased by 10% in the third quarter due to negative currency effects, start-up costs of the Atellica diagnostic system, and expenses related to a recently landed automation contract, while revenues stagnated .
In the Dax, Thyssenkrupp took over the red lantern with a fall of 1.20%. Here, the statements of the boss of the Krupp Ursula Gather Foundation in the "mirror", which had rejected a division of the industrial and steel society, seemingly overwhelmed. The Krupp Foundation is 21% the largest shareholder of the company.
Meanwhile, Deutsche Bank's shares in Dax's peak rose again by 1.66%. The local leader of the beleaguered industry continues to follow the path of restructuring and cost reduction, commented a stock broker. This would have been demonstrated by the recently presented quarterly figures. Investors used the low price level for purchases.
The actions of payment service provider Wirecard defied the weakness of TecDax and continued their recovery with a level of 0.40% to their recent record highs. The boss of the company, Markus Braun, in an interview with the "World on Sunday" continued to promise strong growth. In addition, the company is expanding its cashless payment offer in Singapore with two local partners.
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