2023-12-06 12:58:03
FRANKFURT (dpa-AFX) – VW shares managed to cross their 100-day line on Wednesday, rising by up to 3.8 percent. The attempt to form a floor thus manifests itself following the lowest since 2020 in October. Some slightly positive news came regarding Xinjiang: monitors commissioned by the Wolfsburg company said they found no traces of forced labor at the controversial factory in the Chinese province.
Citigroup analyst Harald Hendrikse is optimistic regarding a trend reversal. Since the index provider MSCI displayed a “red flag” for the sustainability rating in the summer of 2022 due to the Xinjiang issue, securities have significantly lagged behind, both in the automotive sector and on the Dax , he explained.
“If the audit results now satisfy MSCI and bring down the red flag, many European investors who were no longer allowed to buy VW shares due to their sustainability requirements should return” , explained Hendrikse. “A significant part of the underperformance should then be made up for.”/ag/mis
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