After the latest rally on Monday, the Dax took a break. Since the mixed specifications from overseas did not provide any tailwind, the leading German index recently fell by 0.5 percent to 19,380 points.
The MDax of medium-sized companies lost 0.23 percent to 27,147 points. The Eurozone leading index EuroStoxx 50 fell by around 0.3 percent.
For the end of September – often a weak stock market month – the Dax is expected to gain 2.7 percent and for the third quarter an increase of 6.5 percent. Since the beginning of the year there has been an increase of a good 16 percent.
Automotive stocks in focus
Volkswagen was in the spotlight when it came to individual values. Automotive stocks will suffer a setback in their recovery on Monday due to renewed profit warnings. VolkswagenCEO Oliver Blume had to do so on Friday after the stock market closed Profit prospects cut again, because the company will not sell as many cars this year as once hoped. The price recently fell by 3 percent.
It wasn’t just VW that showed on Monday that the bad news from car manufacturers isn’t letting up at the moment. Those too Opel-Mother Stellantis has now cut its profit outlook, mainly due to problems in the USA. Stellantis shares fell by 7.5 percent at the start of the stock market.
Baywa, on the other hand, were in demand. The stocks of the ailing agricultural and building materials group climbed by around 5 percent. The company will receive a further financial injection of half a billion eurosÂ
and have until the end of the year to put your finances on a healthy footing.
US stock markets continue to rise
US stock markets bounced back from a stronger opening on Friday and closed mixed. The Dow Jones Industrial climbed to another record high in early trading, but then crumbled again. Ultimately, the leading index entered the weekend with an increase of 0.33 percent at 42,313 points. This resulted in a weekly gain of around 0.6 percent for the world’s most popular stock market barometer.
Rally on Chinese stock markets continues
The most important stock markets in Asia did not take a consistent direction at the start of the week. While the stock markets are in China continued to rise, the markets got into trouble Japan clearly under pressure. The Japanese leading index Nikkei 225 recently lost 4.7 percent. Shigeru Ishiba’s victory in the race for the leadership of Japan’s ruling LDP party unsettled investors. Because of the Liberal Democratic Party’s (LDP) majority in the relevant lower house of parliament, Ishiba is also virtually certain to be elected prime minister of the world’s fourth-largest economy on October 1. However, the mood in China remained positive thanks to extensive support measures. The CSI 300 with the most important Chinese mainland stocks rose by 6.22 percent in late trading after the strong previous week. In the Chinese special administrative region of Hong Kong, the Hang Seng rose by 3.3 percent.
Oil prices are rising
Oil prices moved higher again on Monday morning. A barrel (159 liters) of North Sea Brent for delivery in November cost $72.49. That was 51 cents more than the day before. The price of a barrel of US West Texas Intermediate (WTI) rose by 38 cents to $68.56.
In the past few weeks, disappointing economic data from China and the USA, among other things, have weighed on oil prices several times. The market fears a decline in demand in the world’s two largest economies.
Recently, however, China has a number of Measures to support the ailing economy have been launched. Shortly before the weekend, China’s central bank announced a reduction in the reserve requirement for the country’s banks.