Fear of lockdown slows Dax

The wave of the corona pandemic rampant in Europe and other possible lockdowns spoiled investors’ mood to buy on Friday. Of the Dax was at the end of trading 0.4 percent in the red at 16 160 points. On Thursday, the leading index had reached a new record high at 16,290 points, but then slipped into the red. “A complete lockdown in Germany would be very bad news for the economic recovery,” said Ludovic Colin, fund manager at Vontobel. Thomas Mathews, an economist at Capital Economics, said the effects on the markets are not yet as devastating as the first corona wave. “However, if the situation worsens and a large part of the economy is paralyzed, regional equity markets could be affected.”

In view of the depressed mood on the stock market, cyclical values ​​in the Dax and M-Dax came under greater pressure. The shares of Deutsche Bank fell by 4.9 percent, Commerzbank papers slipped by 3.8 percent. Car values ​​also fell significantly: Volkswagen by 2.5 percent, Daimler by 1.2 percent. Shares from the travel sector also lost ground in light of the number of infections. Lufthansa lost 2.1 percent and Fraport 4.6 percent. MTU were among the biggest Dax losers with a share price loss of 3.2 percent. The stocks also suffered from a target price cut by Bank of America. The major US bank praised the engine manufacturer’s growth targets announced on the day before the capital market, but cut its estimates because of company comments about the medium-term margins in the spare parts and maintenance business. With new lockdowns and stricter measures to combat the corona pandemic, the shares of food delivery services are rising. Hellofresh 3.4 and Delivery Hero gained 1.2 percent, while the shares of Lieferando parent company Just Eat Takeaway rose 6.5 percent in Amsterdam. The US stock exchanges presented themselves inconsistently. While the Dow Jones lost 0.5 percent, the index of the technology exchange Nasdaq rose 0.7 percent to a record high. Biontech shares climbed 3.5 percent. The company is awaiting an accelerated approval test of its vaccine against skin cancer in the USA.


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