Dax notes a bit lower – Wirecard loses again strong

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Investors focused on Wirecard in the afternoon. The Group announced by ad hoc announcement a share buyback program of up to 200 million euros. Wirecard intends to spend the money within twelve months, as the Dax Group from Aschheim near Munich announced on Friday. This was decided by the Management Board with the approval of the Supervisory Board. The share buyback is expected to start in the next few days. Further details the company wants to make known before the start. The stock lost more than seven percent shortly after the announcement.

In addition, investors are also busy on the last trading day of the week on the further course of the Brexit negotiations. It remains uncertain whether Parliament will vote in favor of the agreement on Saturday. Investors therefore hold back on purchases. "Taking positions before the weekend would be the equivalent of visiting a casino," says market analyst Milan Cutkovic from broker AxiTrader. Portfolio manager Thomas Altmann of wealth advisor QC Partners says: "For Johnson, everything is possible, from the big win to the devastating defeat."

Bad news came from China: growth in the world's second largest economy slowed unexpectedly and has fallen to its lowest level in nearly three decades. In the third quarter of the second largest economy in the world was only 6.0 percent compared to the same period last year, as the statistics office announced on Friday in Beijing.

Experts cited the trade war between China and the US as causes, the uncertainty of investors and the Chinese efforts to tackle the growing debt.

The poor economic data also clouded sentiment on the Shanghai Stock Exchange. The leading index lost 1.2 percent on Friday to 2942 points. By contrast, the Japanese Nikkei index rose as much as 0.9 percent to a eleven-month high of 22,649.85. This benefited stock exchange according to, among other things, from the government's forecast, the trade deal with the US will give the Japanese growth an additional boost of 0.8 percent. In addition, investors are relieved about the compromise in the Brexit dispute.

Stock prices were also up in Turkey, with investors responding with relief to the US-Turkish truce in northern Syria. Turkey will stop its military operation against the Kurdish militias for 120 hours, US Vice President Mike Pence said in a press conference in Ankara on Thursday evening. The goal is that the fighters of the YPG militia can deduct. This phase has already begun.

The leading index of the Istanbul Stock Exchange rose at times by almost four percent. Demand for Turkish bonds pushed ten-year yields down almost one percentage point to 14.1 percent. Foreign exchange investors also took the news in favor and cover up again with the Turkish currency on Friday. As a result, they push the dollar's rate by 0.4 percent to 5.8035 lira.

Look at the individual values

Ceconomy: There is a change at the top of the trading company. However, this did not provide any positive impulses – on the contrary, the stock lost more than ten percent on Friday morning.

Carmaker: A lowered sales forecast of the French carmaker Renault sends the shares of the German competitors on a decline. The papers of Renault lose up to 14 percent and are heading for the biggest daily loss in eleven years. The European industry index lost 2.7 percent. BMW, Daimler and Volkswagen lose up to 1.5 percent. In the wake of the recent rally, some investors took the opportunity for profit taking, marketers say.

Osram: A media report on a forthcoming new takeover offer from AMS encourages investors to join Osram. The shares of the lighting company rose on Friday by up to 1.8 percent to 39.66 euros. The Zurich-listed titles of the Austrian Apple supplier, however, lost 2.5 percent.

According to the news agency Bloomberg to be discussed at an AMS Supervisory Board meeting on Friday about another attempt. It is of course positive that the company continues to be interested in Osram, said a stockbroker. Larger price gains are to be expected but only when a new offer on the table. The chip manufacturer had failed earlier this month with an offer of 41 euros per Osram share.

German postal service: A positive analyst commentary heaves Deutsche Post into the ranks of winners in the Dax. The stock gains 0.34 percent. The experts of the Berenberg Bank upgraded the titles to "buy" of "hold" and raised the price target to 38 from 33 euros.

Software AG: A positive analyst comment encourages investors to join Software AG. The shares gain more than four percent. The Goldman Sachs experts upgraded the stocks to "buy" from neutral, Börsianer said.

Munich Re: For the third quarter of the year, the insurance company reported a result in the order of 850 million euros – despite high major losses. In view of this, Munich Re is optimistic that net income for the coming year will exceed EUR 2.5 billion. The good numbers are still under reserve. The quarterly report will be presented on 7th November. The shares climbed after the announcement by just under two percent to 249.60 euros – the highest level in over 17 years.

Analysts check: Jefferies leaves Vivendi on "Hold"

The analyst firm Jefferies has left the classification for Vivendi after sales figures for the third quarter on "Hold" with a price target of 25 €. The French media group have surprised in peripheral activities positively, wrote analyst Jerry Dellis in a study available on Thursday. In the music division Universal Music Group (UMG), however, growth in the streaming business slowed down.

Click here for the Handelsblatt analyst check.

Here's the page with the Dax-course, here are the current tops & flops in the Dax. Current short selling by investors can be found in our database on short selling.

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