Home » Business » Dax saves itself shortly before the end in the plus – Bitcoin falls towards 50,000 dollars

Dax saves itself shortly before the end in the plus – Bitcoin falls towards 50,000 dollars


Düsseldorf The Dax closed 0.1 percent stronger at 14,612 meters on Thursday. After several days of rest, the Dax initially buckled significantly on Thursday lunchtime, but then stabilized again and finally saved itself to positive territory shortly before the stock market closed. This repeated the course of the previous trading days, on which the Dax equalized or contained its losses in the afternoon.

In the meantime, the Frankfurt stock exchange barometer had lost more than 150 points within an hour and was 1.3 percent in the red at 14,423 points. That was the lowest level in more than a week.

In addition to the ongoing pandemic concerns, the latest statements by US Federal Reserve Chairman Jerome Powell also proved to be a burden. According to him, after an almost complete recovery of the economy, the monetary policy support provided during the crisis should be scaled back very carefully and with great transparency for the markets.

A setback like this Thursday is not unusual after the Dax had risen sharply in the past two weeks. Within nine trading days, the index set six records and rose by more than six percent to the current record high of 14,804 points.

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As a result of the setback, the Dax broke out of the last narrow trading range to the downside. On Monday the difference between the day’s high and low was 138 points, on Tuesday it was 191 points and on Wednesday it was only 96 points. On a weekly basis, there have so far been less than 300 points between the high (14,707 points) and the low (14,423).

A possible explanation for the trading trend with sideways movement, buckling and subsequent recovery: Many investors sold at a high level on Friday, but the prices had not yet fallen far enough for a new entry. So you’ve been waiting for a more powerful pullback.

This assumption is supported by the sentiment survey conducted by the Frankfurt Stock Exchange among private and professional investors. Accordingly, many professionals wandered into the camp of neutral investors in the past week and took profits. Now a large number of these investors have switched to bear camp, so they are betting on falling prices.

New entry at a lower level

The number of optimists has also decreased among private investors. According to the results of the survey, half of them were content with profit-taking, while the others probably went to bear camp in the rising market.

According to behavioral economist Joachim Goldberg, in the event of a setback, a large part of these hedges or short positions should be covered again at a level of 14,200 to 14,250 points. “In this area, the Dax remains well supported, especially since the basic attitude of domestic investors is still bullish,” says Goldberg.

That coincides with the results of the Handelsblatt survey Dax Sentiment from Monday. “Since investors have taken strong hedges, I would assume that any setbacks will only be brief and moderate,” said sentiment expert Stephan Heibel, who evaluates the survey for the Handelsblatt.

Overview of individual values:

Eon: Dax winner was Eon on Thursday. The energy company from Essen had sent optimistic signals the day before. The share gained 4.3 percent.

Adidas: Things went significantly downwards for Adidas – 6.1 percent minus and the lowest level in seven weeks were on the price board. Stock marketers see risks in China: After the EU sanctions were imposed on China, the Swedish fashion chain Hennes & Mauritz and other foreign companies have come under fire there, including Adidas.

Zooplus: The online pet supplies retailer intends to maintain its high growth rate in the years to come. CEO Cornelius Patt wants to increase sales to 3.4 to 3.8 billion euros by 2025.

At least four cents of every euro should then remain as earnings before interest, taxes and depreciation, as the group announced on Thursday in Munich – a little more than the so-called Ebitda margin of 3.5 percent achieved in 2020. The share rose 14.7 percent.

SGL Carbon: SGL Carbon stocks fell 14.9 percent. At 5.67 euros, they mark the lowest level in around nine weeks. In 2020, the composite materials and graphite experts’ revenues had shrunk by 15 percent.

Baywa: The agricultural trading group wants to increase the dividend for the past year by five cents to one euro per share. Earnings before interest and taxes (EBIT) increased by 14 percent to 215.2 million euros. In the current year, Baywa expects a slight growth in sales and operating EBIT – if you don’t throw the corona pandemic through your plans. The share increased by more than 2.1 percent.

Vorwerk: The shares of the pipeline manufacturer Friedrich Vorwerk gained 5.4 percent on their debut on the Frankfurt Stock Exchange. The first price was determined on Thursday at 46.88 euros after the 9.2 million shares at 45 euros – in the lower third of the price range – had been allocated.

The company from Tostedt near Hamburg is valued at an issue price of 900 million euros; 46 percent of the shares are in free float. Friedrich Vorwerk himself will receive 90 million euros with which the company, which grew up with gas pipelines, wants to expand in hydrogen transport.

Bitcoin is falling towards $ 50,000

The cryptocurrency Bitcoin has lost almost ten percent of its value in the past 24 hours. According to data from analyst Coinmarketcap, the digital currency is 8.8 percent in the red at $ 51,477. That is the lowest level in more than two weeks.

In the USA, there is increasing speculation that the one-off payments to households from the current economic stimulus package are more likely to be consumed in the real economy than invested in the financial markets. The high rate of vaccination in the USA means that life there is noticeably normalizing.

The number of call options traded in the US has recently dropped significantly from its record levels at the beginning of the year, reports the business information service Bloomberg. A general downward trend in Bitcoin will be exacerbated by the fixation on value investments away from technology, Vijay Ayyar, head of Asia-Pacific at Crypto Exchange Luno, told Bloomberg.

Bitcoin analyst Timo Emden is also observing growing caution among crypto investors. Investors would currently shift at least part of their Bitcoin investments into fiat money such as dollars or euros. “A slide below the psychological mark of $ 50,000 could provoke further losses to $ 48,000 and $ 44,000,” said Emden.

With material from Reuters.

Here you go to the page with the Dax course, here you can find the current tops & flops in the Dax.

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