FRANKFURT (dpa-AFX) – The German stock market should continue the recent rally at the start of the week. Easing interest rate and inflationary pressures are supporting valuations and stabilizing the high-growth technology sector, JPMorgan strategists said. In addition, slightly less strict corona measures in China provided support. In addition, there were media reports regarding China’s planned, extensive measures to support the country’s troubled real estate sector.
The Dax shows the highest price level from the beginning of June
also on Monday apparently no signs of weakness. One hour before Xetra starts, the X-Dax, as an indicator for the leading index, indicates an increase of around 0.4 percent to 14,278 points. In the previous week, the Dax posted a gain of a whopping 5.7 percent. The Eurozone leading index EuroStoxx 50 a plus of around 0.3 percent is expected on Monday.
The shares of Morphosys are likely to be among the individual values
are in the focus of investors following the pharmaceutical company Roche as a Morphosys license partner with the Alzheimer’s candidate gantenerumab had to accept another setback. Current study data on gantenerumab did not achieve the set goals. This probably destroyed Morphosys’ last hope for the drug, said a dealer in the morning. On the Tradegate trading platform, the Morphosys papers fell by 18 percent compared to the Xetra closing price on Friday.
Vantage Towers shares fell on Tradegate by 0.8 percent. Funkturmgesellschaft increased its revenue by 6 percent in the first half of the financial year. Due to increased investments, among other things, for the network structure of the new telecommunications provider 1&1 adjusted operating profit rose less sharply by 4 percent.
The insurance group Talanx (HDI) increased its surplus by 27 percent a year following the devastating flood disaster in Germany. CEO Torsten Leue therefore continues to expect a profit of between 1.05 and 1.15 billion euros for 2022. In addition, premium income is expected to increase by around ten percent following currency adjustments, which is even more than previously planned. Talanx shares rose by 0.8 percent on Tradegate.
The German Pfandbrief Bank posted a significant drop in profits in the third quarter due to declining earnings. Nevertheless, CEO Andreas Arndt is sticking to his goal of a pre-tax profit of 200 to 220 million euros for 2022. The “tightened economic and political conditions” should not change anything regarding that. The securities of the Pfandbriefbank lost 0.8 percent on Tradegate.
The construction financing expert Hypoport does not dare to make any forecasts for the expected recovery of the real estate market, but soon sees the first successes of the recently introduced cost-cutting measures. After the decline in business in recent months, CEO and major shareholder Ronald Slabke is still counting on a recovery and gains in market share. The Hypoport share certificates increased by 1.8 percent on Tradegate./edh/mis
ISIN DE0008469008 EU0009658145 DE0008467416
AXC0084 2022-11-14/08:16
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