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DAX below 14,000 points – investors rely on economic recovery after “catastrophe year”

admin by admin
January 14, 2021
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Investors in the German stock market will not let themselves be scared off by the worst economic downturn since the financial crisis. The Dax gained 0.4 percent on Thursday morning and was just above the psychologically important mark of 14,000 points. The EuroStoxx50 gained half a percent on 3634 meters.

In the 2020 corona year, the German economy collapsed more than it had since the financial crisis: the gross domestic product (GDP) shrank by 5.0 percent, the first time in eleven years. “Actually a year of disaster, but measured against the fears in the meantime one could say that we got off lightly,” said LBBW analyst Uwe Burkert. In addition, economists expect the economy to achieve noticeable growth of 3.5 percent or more again in 2021 in view of corona vaccines. The euro was trading little changed on Thursday at $ 1.2160.

HOPE IN US BILLIONS AND CHINA DATES BASED

Investors’ willingness to take risks is currently being fueled primarily by the hope of large US economic stimulus packages. “Despite the ongoing protests in the US that want to question the election result, the Democrats will now control the US Senate,” said UBS Asset Management analyst Evan Brown. “This increases the prospects for even more fiscal relief and further economic stimulus programs to strengthen the upswing.” Stockbrokers hope for a trillion dollar aid package from new US President Joe Biden. According to a report by the US broadcaster CNN, the volume could even be more than two trillion dollars. Investors expect details on this later in the day. In addition, the weekly labor market data are on the plan. With 780,000 initial jobless claims, experts expect a value at the level of the previous week.

The increase in exports of Chinese companies in the past year was also well received by equity investors. In dollar terms, exports rose by 3.6 percent compared to 2019. “The appetite for Chinese consumer goods is unabated,” said chief economist Thomas Gitzel from VP Bank. German mechanical engineering and US industry also benefit from this.

CHIP VALUES ASKED – DILUTING EFFECT PRESSES SHOP PHARMACY

Chip values ​​were particularly in demand among the European equity sectors. Here the planned change at the top of the US chip company Intel had a positive effect, and an increase in profits at the Taiwanese TSMC helped. The papers from ASMI and ASML climbed up to 5.7 percent. In the auto sector, Peugeot stood out with an increase of more than five percent. After a drop in sales in 2020, sales in Europe recovered in the second half of the year.

Shop Apotheke, on the other hand, fell by up to 7.2 percent to 153.80 euros after the company announced convertible bonds with a total face value of 200 million euros. The impending dilution effect weighs on the share price, said a trader.

Despite a again raised forecast, investors at Boohoo withdrew. The shares of the British online fashion retailer fell by more than six percent, although the company expects a stronger increase in sales for the current financial year than originally expected due to increased online purchases.

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Tags: 00014DAXDisaster yearEconomic recoveryInvestorsPoints
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