Dax a little easier – Thyssen-Krupp, BMW and Vonovia in focus

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Dax curve

The alienated DAX chart in the trading floor of the Frankfurt Stock Exchange.


(Photo: AP)

FrankfurtThe Dax is slightly easier on Thursday morning in the trade: with 12,077 points, the German leading index is about 0.2 percent weaker. Lightweight losses had already been announced before the stock exchange.

It went on the day before quite turbulent on the Frankfurt Stock Exchange: pre-market the Dax was above the mark of 12,000 points, slipped off in the course of the day and turned to the end of the day into plus. Closed the Dax at 12,099 points 0.9 percent plus. A message from the US has encouraged investors.

Shortly after 4 pm, it became known that US President Donald Trump wanted to delay his decision on punitive tariffs for European imported cars and components by up to six months. Three government officials told the news agency Reuters. By Saturday, an official statement will follow. Especially the car values ​​benefited from the news, both Daimler and BMW won by three percent each.

For BMW, today's trading day could be uncomfortable. At the BMW Annual General Meeting, critical questions from shareholders are expected, as the stock market price of the car company has fallen by 25 percent since the last shareholder meeting. Profit and dividends are shrinking. BMW is currently investing in electric cars and autonomous driving, while at the same time the manufacturer has to fight with weaker demand in Europe and the USA.

The shareholders of the housing company Vonovia are also invited to the Annual General Meeting. Germany's largest housing group has had a successful year with two major acquisitions and an increase in profits. CEO Rolf Buch has raised the earnings forecast. But also Vonovia is under pressure, rising rents and housing shortage fuel the calls for expropriations. Bochum tenants have called for a "picket".

At night, another political message dominated the events: Trump has declared a state of emergency in telecommunications. This allows the US government to crack down on foreign telecom companies – but the White House said the measure was not directed against a specific country or business. Probably Trump but wants to meet with China and the company settled there Huawei, not least because of the trade conflict and the spy allegations against the telecommunications company.

Later in the day, Euro Finance Ministers meet to talk about economic developments in Europe. Most recently, the European Commission lowered its outlook for 2019 due to cloudy expectations in Germany and Italy.

In London, British Prime Minister Theresa May joins the "1922 Committee", an association of members of the House of Commons. The committee calls for a May cancellation date, but that will not be expected today.

Single values ​​in focus

BMW: The yield of the Bavarian automaker drops, for the first time after ten years there was even a profit warning. At the AGM, BMW must ask unpleasant questions. In early trading, the title is about 0.6 percent easier.

Thyssen-Krupp: The stock of the conglomerate has been very volatile for several days. On Friday, she gained 28 percent, this week she lost up to 10 percent. Now, the Finnish elevator manufacturer Kone presents an offer for the elevator division of Thyssen-Krupp. Investors reward this development with up to seven percent plus.

German postal service: The shares of the logistics group are traded on the day after the Annual General Meeting with a dividend discount. At the end of the Dax, the securities trade a good four percent down.

Theme: Market Reports

Deutsche Annington Immobilien Gruppe: Today in Bochum the general meeting of Germany's largest housing corporation takes place. Vonovia has had a successful year, but the company must face growing pressure from expropriation requirements. Vonovia's shares are still trading little changed on Thursday at 0.1 percent.

RTL Group: The media group and its subsidiary Fremantle were able to increase sales in the first quarter to 1.5 billion euros. However, in the TV advertising business RTL has to accept declines. The share of the MDax Group loses more than 2 percent.

What the charting says

The Dax marked its day low yesterday at 11,862 points. As a result, the index had already approximated the arithmetic mean of the last 55 days, ie the 55-day line (11,838), which was relevant for the medium-term trend. The subsequent upward impulse and a closing price which at the same time corresponded to the high of the day can be evaluated positively in the short term. However, it should not be forgotten that the Dax is still well below the 21-day line (12,173) noted.

Here's the page with the Dax-course, here are the current tops & flops in the Dax. Current short selling by investors can be found in our database on short selling.

Watch the pros – and be warned about short selling

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