Monday, November 29

Frankfurt shares outlook: Dax remains within reach of the record ahead of Fed signals

FRANKFURT (dpa-AFX) – The Dax (DAX 40) remains within reach of the record on Wednesday: The X-Dax as an indicator for the leading index indicated an opening just a few counters below the 15,945 points around an hour before the Xetra start with 15,945 points End of the previous day. The record high of August at 16,030 points remains in sight, especially as the US indices are also continuing their hunt for records. The leading Eurozone index EuroStoxx 50 (EURO STOXX 50) is expected to be 0.1 percent weaker by the middle of the week.

“The German benchmark index is already in the year-end rally at the beginning of November,” stated technical analyst and capital market expert Martin Utschneider from Donner & Reuschel. Seasonally everything speaks in favor of further rising prices: “Statistically speaking, the six best months of the stock market are now starting,” said Utschneider.

In the evening, investors wait for the signals from the US Federal Reserve after its meeting. It is expected with no less than the beginning of the end of the billion dollar bond purchases – the so-called tapering. “Since the Fed also outlined the tapering process at its September meeting, there shouldn’t be any big surprises here,” said the foreign exchange experts at Commerzbank.

A reduction in bond purchases has been discussed for some time and should therefore have largely been priced in, according to Helaba. “Uncertainty is basically nothing that is valued in the stock markets, so putting an end to the guesswork could actually cause a slight tailwind for a short time.”

The reporting season continues in Germany with quarterly figures from the car maker BMW and the online fashion retailer Zalando from the Dax as well as some companies from behind them, including Lufthansa, the software manufacturer TeamViewer and the grocery supplier RATIONAL. After a confirmed outlook, primarily on Tradegate, Zalando recently gave way compared to the Xetra end. After a weak operating business in the third quarter, Teamviewer just remained in the profit zone. Primarily it went up on Tradegate.

The focus is also on Deutsche Telekom according to figures from the US subsidiary T-Mobile US. Their strong performance should help the T-shares, said a trader. Primarily they gained 0.6 percent on Tradegate. Telefonica Deutschland raised its earnings forecast. The shares gained more than two percent in early trading.

According to Brsians, the steel trader Klckner & Co (KlcknerCo (KlCo)) also presented a “strong set of figures”. In addition, the Duisburg-based company announced a high dividend. This should be enough to make up for the recent price losses, it was said on the market./ajx/eas

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