STUTTGART (BOERSE STUTTGART GMBH) – Stock market report of the Stuttgart Stock Exchange
Straight off the floor: These stocks are in focus this week
Germany
The German benchmark index suffered heavy losses over the past week of trading. While the 13,000 point mark seemed within reach for the DAX last week, it was trading at around 12,500 points at the end of this trading week; a good 3% in the red. In view of the rapidly increasing number of corona infections in Germany and Europe, investors in Stuttgart are placing significantly more sales orders this week.
In the last week, the papers of the Leverkusen-based pharmaceutical and chemical group Bayer were once again traded. However, investors in Stuttgart mostly placed sell orders, confirming the ongoing downward trend in the share. In addition to the legal disputes over the weed killer glyphosate in the USA, there is now also a case in France over a herbicide called lasso. Bayer stocks have become more than 35% cheaper in the last six months alone.
A turbulent trading week is also coming to an end for the insurance group from the Bavarian capital. The company is faced with several claims for damages. So complained of restaurateurs who had to close their restaurants in the course of the corona lockdown. Stuttgart investors do not like this uncertainty: Allianz shares lose 2% on a weekly basis.
America
Mixed week due to stimulus deal: Because Nancy Pelosi’s deadline for an agreement on corona aid simply expired, the Nasdaq fell by 300 points. The S&P 500 then also gave its meter reading of around 3,490 points from Monday and is currently trading at 3,453 points.
On the other hand, there were positive impulses in the quarterly reports on American equities. Tesla was also able to write black numbers in this quarter. In optimism, the electric car manufacturer is sticking to its goal of delivering 500,000 vehicles by the end of the year. This had a very positive effect after the ongoing price pressure at the beginning of the week due to the stimulus deal on Thursday.
The numbers at Coca-Cola were also impressive. The company had to cope with heavy losses in sales due to the Corona crisis and the associated closings of restaurants and theaters. The reopenings had a positive effect on the figures for the third quarter.
Asia
The Tokyo stock exchange is up slightly with 23,555 points from this reporting week.
SoftBank climbed to its highest level in 20 years on Monday, which market participants used to take profits. Nevertheless, the share still closed with a small weekly gain. The background: Company founder and main shareholder Masayoshi Son has discontinued his aggressive business policy of company takeovers on credit basis and is currently fundamentally changing it. He sells large parts of the holdings to other companies. With this income he is reducing his very large debt ratio. In addition, SoftBank started an exceptionally large share buyback program.
One of the world’s largest suppliers of semiconductors for consumer electronics published a profit for the first six months of the current fiscal year. This was almost twice as high as expected. The reward was a price increase of a good 5%.
Previously known as a manufacturer of special vehicles and diesel engines for industry and shipping, the company announced a joint venture with BYD to develop electric vehicles. The result was an increase of a good 5.5%.
Europe
The French company opens its books: Like all other luxury companies, Hermes also struggled with the shutdown and a 42% fall in sales in the spring. However, Hermes managed to grow its online trade by 100% in almost all regions in the first nine months of the year. It is therefore not surprising that online sales have now overtaken branch business. The share is currently trading at around 819 euros. That is an increase of over 5.5% compared to the previous week.
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Source: Boerse Stuttgart GmbH, www.boerse-stuttgart.de
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