INDEXDB:DAX copes well despite rise in Covid cases, EON up while Adidas stock leads losers – Idaho Reporter


INDEXDB:DAX copes well despite rise in Covid cases, EON up while Adidas stock leads losers

The Dax Performance Index (INDEXDB:DAX) is not surrendering on Thursday despite all the uncertainty, the leading index is like a “rock solid”, wrote portfolio manager Thomas Altmann from asset manager QC Partners. There is hardly any willingness to buy, but on the other hand there is also no pressure to sell.

After the first hour of trading, DAX stepped on the spot with small losses at 14,590 points. With 14,804 points, the Dax had reached a new record a week ago, driven not least by immensely strong car values, and thus accumulated a profit of almost 8 percent for this year. Corona worries in particular have slowed down since then but seems to coming back again. The number of new infections reported to the Robert Koch Institute (RKI) continues to rise.

The MDax (INDEXDB:MDAX)after one hour of trading was around 0.84 percent in the red at 31,245 points and the Eurozone leading index EuroStoxx fell 0.2 percent.

The Dax is led by Eon (ETR:EOAN) from the utility industry, which is in demand across Europe, with a price increase of 3,15 percent.

Meanwhile, things went significantly downwards for Adidas (ETR:ADS) – 4,05 percent minus and the lowest level in seven weeks were on the price board. Stock marketers see risks in China: After the imposition of EU sanctions against China, the Swedish fashion chain Hennes & Mauritz and other foreign companies there came under criticism.

The landlord of office, hotel and commercial real estate, Aroundtown (ETR:AT1), missed expectations in terms of the result, wrote analyst Thomas Rothäusler from Jefferies in an initial reaction.

Zooplus shot meanwhile in the SDax up by 13 percent. The online retailer and Corona winner promised a high rate of growth for the coming years. CEO Cornelius Patt wants to roughly double sales by 2025. The profitability should also be increased somewhat.

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