Frankfurt The Dax is inconsistent on Tuesday. After initial gains, the leading index turned negative at midday, closing 0.65 percent in the red at 14,424 points. The day before it had closed with a plus of 0.5 percent at 14,518 points. The leading European index, the Euro Stoxx 50, was down almost one percent.
Initially, good guidelines from the USA provided some momentum. The tech-heavy Nasdaq closed up 1.9 percent on Monday, and the broader S&P 500 was also up. However, this was overshadowed by uncertainty about further Western sanctions against Russia.
On Tuesday, the EU Commission proposed, among other things, an import ban on coal from Russia. This could further exacerbate the tense situation on the energy market. The expected impact of new sanctions drove oil prices up again. Brent crude oil from the North Sea temporarily rose in price by more than two percent to as much as $109.90 per barrel.
Statements by the deputy chairman of the US Federal Reserve, Lael Brainard, on monetary policy proved to be a burden on the stock market. According to a previously distributed speech, the latter said that the Fed would reduce its total assets at a rapid rate from May. This step would remove liquidity from the stock exchanges. Tight monetary policy can be detrimental to stock markets as other asset classes become more attractive.
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Among the winners in the Dax were the meal box mail order company Hellofresh and the food delivery service Delivery Hero, both of which were able to gain well over four percent on Tuesday. The shares of the online drug retailer Shop Apotheke also posted strong gains. The shares of wind turbine manufacturers such as Nordex, Siemens Gamesa and Vestas also achieved strong price gains. The biggest loser in the Dax at the close of trading was the share of the engine manufacturer MTU. The papers of the car companies also tended to be weaker, Daimler Truck lost almost five percent in value.
The Munich Ifo Institute published new data on the business expectations of German car manufacturers and their suppliers on Tuesday. In March, these collapsed more than ever before because of the Ukraine war. The corresponding barometer for the entire industry fell to minus 43.1 points after plus 14.4 in February, as the Ifo Institute announced.
Above all, the prices for oil and gas as a result of the war are having a negative effect. “This raises fears in the industry that sales of new cars could fall,” says Oliver Falck, head of the Ifo Center for Industrial Economics and New Technologies. “At the same time, energy costs are also increasing in car production and along the supply chain.”
The car manufacturers also assessed their current business situation as significantly worse than in February. The indicator fell to minus 13.5 points from plus 28.3 points. “The shortage of primary products continued to worsen,” said Falck. “Ukrainian truck drivers are absent because they now have to fight in their country. That brings the logistics to a standstill.”
In addition, key components such as cable harnesses, which are manufactured in Ukraine, were missing. Corporate price expectations reached an all-time high.
Individual values in focus
area: The financial investors Advent and Centerbridge have informed the Wiesbaden specialist bank about a new takeover bid. The bidding consortium has the support of major shareholders who hold around 37 percent of the voting rights. These are Petrus Advisers, Talomon, Teleios and Vesa. The price per share should be around 33 euros. Aareal titles increased by around 3.44 percent to EUR 32.48 on Tuesday.
Shop pharmacy: The online pharmacy grew in the first quarter thanks to rising customer numbers. According to initial calculations, sales increased by 7.2 percent to 305 million euros. The number of active customers climbed by 0.4 million to 8.3 million. The Management Board also confirmed its annual targets. Investors honor the news with purchases: the share closes almost 3.5 percent higher than the day before.
Handle: Henkel shares are trading this Tuesday with a dividend discount of 1.85 euros. Compared to the previous day’s close of 60.40 euros, this means a minus of 2.3 percent.
Nordex: The wind turbine manufacturer’s stock benefited from positive analyst comments for the industry. Due to the sanctions against Russia and the rising oil price, the demand for wind energy is increasing. The paper gains about seven percent by the end of trading.
Sixt: The Sixt share, which was recently included in the MDax small-cap index, soared by more than 6.5 percent to EUR 133.80 on Tuesday. The family company from Pullach near Munich was able to increase its sales by 75 percent to around 580 million euros in the first quarter and is back in the black with 80 to 95 million euros before taxes. Since the beginning of the year, Sixt ordinary shares have fallen from 166 to 114 euros. The Russian invasion of Ukraine had accelerated the price losses.
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