Shares Frankfurt opening: In the plus
FRANKFURT (dpa-AFX) – The hope of progress in the Ukraine talks is spurring on the German stock market at the start of the new stock market week. The Dax climbed shortly after the start of trading on Monday in the direction of 14,000 points, most recently the leading German index
2.58 percent up at 13,980.11 points. According to market observer Thomas Altmann from asset manager QC Partners, there is now a “certain hope for peace” on western stock exchanges. The MDAX of medium-sized German companies gained 2.16 percent to 30 607.17 points.
With the current price gains, the Dax is building on a strong previous week, in which the stock market barometer initially fell below the 12,500 point mark during the war, but then recovered by around ten percent from the weekly low. Cautious hopes of movement in talks between Russia and Ukraine had already supported stock markets in Europe before the weekend. Kremlin spokesman Dmitry Peskov did not rule out a meeting between Russian President Vladimir Putin and Caribbean President Volodymyr Zelenskyy on Sunday.
Nevertheless, the fighting in Ukraine continued with all its severity. Marcel Mußler, publisher of the Mußler letters, pointed out that the Russian side had already come “worrisomely close” to the NATO border. Nevertheless, it is also about the Eurozone leading index EuroStoxx 50 up 1.53 percent to 3743 points in early trading on Monday.
In this country, at the start of the week, there were still a few companies with numbers in view. The results and the outlook of Europe’s largest carmaker Volkswagen gave a boost to the sector throughout Europe, which had recently been badly hit by the Ukraine war. VW preferred shares rose by a good six percent at the top of the Dax. Despite problems, the group cut sharply and far above expectations and gave a “very solid” outlook, praised JPMorgan analyst Jose Asumendi.
In this wake, the shares of the major VW shareholder, the Porsche Holding, and the competitor BMW became more expensive andMercedes -Benz similarly strong, for shares in the supplier of Continental it went up by more than four percent.
Banks were also in demand throughout Europe – Deutsche Bank increased in price by more than five and a half percent, here half also a canceled sell recommendation by the Berenberg Bank. Commerzbank shares advanced by more than 3 percent.
The alleged Corona winners were among the few losers in the strong market environment. The recipe box mail order company Hellofresh and the food delivery service Delivery Hero were hit particularly hard, each with a price discount of around five percent.
Papers received by Talanx climbed by more than three and a half percent according to the figures, which also confirms the insurance group’s outlook despite the Ukraine war. On the other hand, after a jump in profits last year, the rather cautious targets of the financial service provider Hypoport gave the share a price drop of one percent after an initial good start.
At the top of the MDax, the utility Uniper, which is particularly affected by the Russia sanctions, claimed hope for a rapprochement in the Ukraine conflict. The shares continued their recent recovery with a gain of more than five percent.