Dusseldorf The Dax confirmed its latest upward trend on Tuesday: The German benchmark index closed the trading day with 0.8 percent plus at 15,963 points. He has gained around 900 points within six trading days.
The Frankfurt stock exchange barometer benefited from the “window dressing”. This means that institutional investors quickly add the stocks that have performed particularly well to their own portfolios before the December 31st cut-off date in order to visually spruce up their interim results. The DAX winners therefore included Sartorius, Merck and Siemens Healthineers, whose shares did particularly well this year.
With the upward movement on Tuesday, the Dax also closed a downward gap at 15,865 points that it tore on November 26th. At that time, the market was re-rated outside of trading hours due to reports about the new Omikron virus variant.
Such gaps arise when the highest price on the trading day is below the lowest price on the previous day. If these gaps are not closed quickly, they become a resistance. By closing this gap, the Dax jumped over another resistance and also confirmed its upward trend. Up to the record high of 16,290 points, less than three percent were currently missing.
Top jobs of the day
Find the best jobs now and
be notified by email.
“The lid is now off for the time being, however, the Dax has fought its way up,” says analyst Jochen Stanzl from the online broker CMC Markets. “It is important that the course strength can also be maintained at the end of the week and thus the end of the year.”
Because what investors should consider: The trading volume is currently very low, so just a few buyers are enough to move the market upwards.
On Monday, for example, only just under 30 million titles were bought by DAX companies. That was the second lowest value of the year – it was only less during the summer slump on August 30th. The trading volume was thus more than 50 percent below the annual average.
“So it remains to be seen whether this rally is sustainable,” says portfolio manager Thomas Altmann from the investment advisor QC Partners. “Because if some should come up with the idea of realizing their profits, then suddenly the sellers would be in the majority.”
Martin Utschneider, technical analyst at the private bank Donner & Reuschel, therefore recommends maintaining stops and safeguards. There is still a latent panic mood in the market. “Every report regarding Omikron and inflation unsettles investors and leads to irrationality,” says Utschneider.
Look at individual values
German postal service: Domestic postage for standard letters, postcards and compact letters is between five and ten cents more expensive. The Federal Network Agency has given the green light for the new postage. The Deutsche Post share increased by 1.7 percent.
S&T: The Austrian IT company wants an independent expert to investigate the criticism of the research house Viceroy of the short seller Fraser Perring of the business conduct. In terms of content, S&T again rejected the allegations. The S&T papers initially rose by around five percent, but then turned into a four percent decline.
Aroundtown: The real estate company has extended its current share buyback program by six months to June 30, 2022. Aroundtown titles rose 1.3 percent.
Home24: The analysts of the private bank Hauck & Aufhäuser have left the rating for the online furniture store at “Buy” with a target price of 23 euros. The takeover of the furnishing supplier Butlers seems sensible due to its profitability, the innovative offer and the attractive customer base. Home24 titles rose 4.5 percent.
Lira gave in moderately
The Turkish currency lost more of its recent gains. In return, the dollar and euro gained more than two percent each to 11,942 and 13,534 lira at times.
The rate of the Turkish currency collapsed several times in the past few weeks, among other things as a result of key interest rate cuts. The lira had temporarily lost more than 55 percent of its value compared to the euro since the beginning of the year.
Since the day the government announced a stabilization package, the lira has appreciated again and has remained relatively stable since then. Opposition politicians and some economists, however, said the lira was only stabilized thanks to the unpublished sales of dollar reserves amounting to billions of dollars by the central bank.
Because the Turkish central bank is keeping interest rates low despite high inflation, new record lows for the lira are only a matter of time, according to experts.
Bitcoin fell below $ 50,000
Bitcoin fell back after a brief excursion above the $ 50,000 mark. On Tuesday morning, the oldest and most important cryptocurrency was trading at around $ 49,000, according to data from the analysis company Coinmarketcap.
Bitcoin had surpassed the $ 50,000 mark over the Christmas holidays and reached its highest price since early December ($ 51,956) on Monday. But there were no follow-up purchases to sustainably break the $ 50,000 mark.
Bitcoin fell in love with its recent sideways movement. The mood on the market was not clear: Corrections had also been made in the past following significant price increases. In these cases, however, the mood on the market also fell to an extremely low level. The bitcoin price had then bottomed out, and there were enough buyers available to drive the price all over again.
This time, on the one hand, the situation could be interpreted as a breath of air before another upward outbreak. But it could just as well be a sign that there are still many undecided investors in the market who will get out at the next setback and push the price further down.
“Bulls and bears are hand in hand,” comments crypto analyst Timo Emden. “On the one hand, investors expect another price slump. On the other hand, nobody wants to miss the starting signal for a new rally. “
Here you go to the page with the Dax course, here you can find the current tops & flops in the Dax.