Are automotive technicians recession-proof
Dax: Index development and prices up-to-date
The second point: Of course, stockbrokers wait Looking forward to the final details of the planned "Phase 1" agreement between the USA and China. But there is nothing really new, the latest statements seem to suggest hardly any progress. After a phone call over the weekend, China's state media reported "constructive talks" and the US Trade Representative did not comment, which is seldom the case after such talks.
For one The Chinese central bank caused a surprise, which surprisingly lowered the interest rate on short-term loans to 2.5 from 2.55 percent. The change is minimal, but is fueling speculation about further stimulus aid from the government in Beijing. The behavior of the central bank reveals how big the problems in China are due to the trade dispute.
The Asian stock exchanges benefited from the interest rate cut. The Hong Kong Hang Seng, for example, was up 1.1 percent despite renewed violent protests.
In any case, the warning signs are mounting in terms of investor sentiment. "The mood is no longer as positive as it was a week ago," says Stephan Heibel after evaluating the Handelsblatt survey Dax Sentiment among more than 3500 investors. In his estimation, the starting signal for a clear setback on the stock markets should be given in a few days.
What are the favorite stocks of successful fund managers? The Handelsblatt surveyed four portfolio managers who were nominated for the “Fund Oscars” in the “German stocks” category. You invest primarily in Dax-30 stocks, but also mix in other stocks.
Volkswagen shares are a favorite. With an annual plus of a good 30 percent, the VW paper held up much better than BMW and Daimler. The VW preferred shares have already reached their highs reached again from the beginning of 2018.
Anyone interested in VW shares can also buy indirectly through Porsche. Jörg Hoppe, who manages the “Meag ProInvest” fund at Meag, the asset manager of the reinsurance company Munich Re and its subsidiary Ergo, indirectly increased the stake in VW in several tranches in October and bought shares in Porsche in return. Porsche Holding holds a good 53 percent of the voting rights in VW and thus has a capital share of over 31 percent. "The business development of Porsche depends almost exclusively on VW, the Porsche share is cheaper than VW's“, Explains Hoppe.
To the further Dax favorites of the fund managers include the Dax heavyweights SAP, Linde and Siemens.
The schedule for the entire week is clear: only on Friday, major publications with purchasing managers' indices in Germany and Europe are on the agenda.
Look at the individual values
Grand City Properties: The residential real estate group increased its rental income and profits in the first nine months. Income climbed by four percent to 418 million euros. The operating profit (FFO1) increased by seven percent to 160 million euros.
During the period, Grand City Properties bought apartments for 400 million euros, mainly in London. Properties were sold for 500 million euros, which corresponds to an eight percent surcharge on the book value. The company reiterated its forecasts for the current year. The numbers are in line, the share was up around 0.2 percent at the close of trading.
Daimler: The share has begun to bottom out. After the strong increase at the end of August to the end of October, a consolidation is now imminent, which began last Thursday. The share slipped from 53.50 to around 50.50 euros. At the close of trading on Monday, the shares were quoted slightly in the red at EUR 50.23 (minus 0.9 percent).
The price should settle above EUR 47 to EUR 48, a potentially interesting entry opportunity on weak stock market days. In contrast to VW, Daimler shares are trading around a third below their price high from the beginning of 2018.
Qiagen: According to its own information, the biotech group has received several non-binding takeover offers. The experts at DZ-Bank had already predicted this last Friday. The company is a strategic fit for almost all companies in the industry, wrote today analyst Volker Braun from Bankhaus Lampe. The expected synergies would be up to $ 200 million. Against this background, he expects an offer above 40 euros per share. A takeover battle is not ruled out. Qiagen shares rose by up to 13.2 percent to a 19-year high of 38.60 euros when they opened and closed trading with a whopping 8.3 percent.
Lanxess: The specialty chemicals company is selling its stake in a chrome ore mine in South Africa. The 74 percent stake goes to the South African supplier of fine chrome ores, Clover Alloys, Lanxess did not provide any information on the sales price.
The expected separation from the mine follows the sale of the chrome chemicals business to the Chinese company Brother Enterprises, which was announced in August. The chrome ore mine is an essential source of raw materials for this business. The Lanxess share closes around two percent in the red.
Volkswagen: The automobile manufacturer is lowering its medium-term growth forecast in view of the gloomy global economy and high investments in electromobility. The group reaffirmed its return targets for the next few years on Monday, but it will have to work harder to achieve this: VW is planning further savings and wants to increase sales of urban SUVs, with which more can be earned. In the medium-term growth forecast, however, Volkswagen is dampening expectations. With a price slide of 4.1 percent, the shares were the bottom of the Dax.
What the chart technique says
The so-called sliding zone in the German benchmark index continues to exist. The almost identical highs at 13,301 / 13,308 points have been limiting the short-term development since the beginning of November. On the downside, the two most recent correction lows at 13,144 / 13,139 points currently still offer support. The longer the Dax stays in this zone, the more dynamic the breakout is likely to be.
A break out of this sliding zone should, according to chart technology, provide the next impulse for movement. A jump over the upper limit should pave the way to the previous record of 13,596 points. A slide below the level of 13,139 points has a mathematical discount potential of at least 260 points.
Because so far the correction has been very calm since the rise in early October from 11,878 points to 13,308 points as the new annual high. The leading index is currently struggling with the 13,200 point mark. Buying interest has so far been very high below 13,200 meters.
On the downside, the upward price gap from early November is the next important retreat mark in the medium term. Such price gaps (technical jargon: gap) arise when the highest price on one day remains below that of the following day.
The specific case: On November 1, the Dax rose to 12,992 points, on Monday (November 4) the lowest price was 13,019 points. Such gaps in the course then serve as support. If they are not closed, it is a sign of strength. Strategic investors can use this area as a hedge.
Below the gap, the next support is at 12,500 meters. This is in turn followed by the 200-day line, an indicator of the long-term upward trend. This average line is currently at 12,085 meters and increases by around ten points every day. It would fit into the technical picture if the Dax were to test this line in the coming weeks.
Conclusion of the chart technique: Investors shouldn't be afraid of setbacks at the moment; a clear setback would be positive given the strong rally since the beginning of October.
Handelsblatt-Analystencheck: Higher price target for the Delivery Hero share
The analysis company Jefferies has raised the price target for Delivery Hero according to the figures for the third quarter from 60 to 65 euros and left the rating at "buy". In a study published on Friday, analyst Giles Thorne raised his sales expectations for the food delivery service in 2019 and the three following years. The changes mainly affected business in the Middle East and North Africa.
The tendency of the 26 studies on Delivery Hero shares in the Handelsblatt analyst check is clear: 23 times the recommendation is "buy", three times "hold". There is no recommendation to sell. The weighted target price of all 26 analyzes is EUR 54.95, the share currently costs EUR 43.55. With a weighted course target, current studies are weighted higher.
Click here for the Handelsblatt analyst check
Click here to go to the page with the Dax course, here you can find the current tops & flops in the Dax. See our short selling database for current investor short sales.
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