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Börse Express – Frankfurt stock: Dax a little firmer before ‘witches’ Sabbath’



On the day of the so-called witch sabbath, the German stock market is quiet. Dax was on Friday morning with a quarter percent plus of 13,241 points. From a weekly perspective, the leading index is almost in place. In the event of a major exit, forward contracts and options on stock indices and individual shares expire once a quarter. Investors then try to move prices in the direction that is beneficial to them. This often leads to price fluctuations that cannot be fundamentally justified.

Speculation about a takeover of the Dax group Covestro is causing uproar and movement . New York investor Apollo is considering taking over Bayer̵

7;s former plastics division, which is now listed on Dax , reports the news agency Bloomberg and quotes informed people. Covestro shares then soared by almost 7 percent. Covestro announced that it is currently not in talks with Apollo.

MDax the medium-sized stock market shares decreased by 0.04 percent to 27,612 points. EuroStoxx 50
as the leading index for the euro area, like the Dax, rose by a quarter of a percent.

After initial price gains, the shares in the leasing company Grenke turned around again with 4 percent in red. On Tuesday and Wednesday, the share price fell by more than 50 percent after a so-called short attack from a speculative investor. Viceroy Research had, among other things, accused the company of falsifying accounts. Grenke rejects the accusations and wants to comment in detail on Friday.

For Fraport Shares fell 5 percent after two strong trading days. Lufthansa
lost 3 percent. Retailers pointed to the growing number of people recently infected with coronavirus, especially in France.

A capital increase of one billion dollars by the shopping center operator Unibail-Rodamco-Westfield the previous day weighed again the prices of German industrial stocks. Deutsche Euroshop lost 7 percent and Aroundtown 4 percent. The latter also has hotel and retail properties in its portfolio. / Bek / stk

 ISIN  DE0008469008  EU0009658145  DE0008467416

AXC0162 2020-09-18 / 11:40

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