As of: 12/29/2021 9:25 a.m.
After yesterday’s price gains, investors hold their breath for the time being in the middle of the week. The requirements from Wall Street do not give the DAX a new boost, but the 16,000 points remain within reach.
The German benchmark index started the penultimate trading day of the year with around 15,940 points. This almost corresponds to the closing level of yesterday’s XETRA trading. The round thousand mark remains within reach.
Window dressing and course cosmetics
According to market experts, many investors are assuming a less severe Omikron wave than feared. The markets are currently pricing in a milder trend in diseases, according to analyst Jeffrey Halley from trading house Oanda. Most market participants have already closed their trading books; a few traders tried “by buying in the weak market to pull prices up a little” in order to be able to do well in the end-of-year accounts, according to the technical chart analyst Christoph Geyer. The same applies to some fund managers who quickly buy the year’s winning stocks into their portfolios in order to then show them in their annual balance sheet: They practice what is known as “window dressing”.
US indices pause at a high level
Wall Street had given no further signs of a sustained price rally that evening. The Dow Jones index of standard values closed 0.3 percent higher at 36,398 points. The broad US index S&P 500, which initially marked a record high for the second day in a row, fell slightly to 4,786 points. The technology-heavy Nasdaq fell 0.6 percent to 15,781 points.
Investors also took a break in the Asian trading venues. In Tokyo, the Japanese leading index Nikkei fell by 0.6 percent to 28,906 points. Here, too, tech stocks lost more than average. The Shanghai stock exchange lost 0.8 percent.
Euro nibbles on the 1.13
On the foreign exchange market, the euro has to fight again today for the mark of 1.13 dollars, which it left clearly behind yesterday. In the morning, the common currency stands at $ 1.1305. Oil prices remain slightly forward in the hope of some limited economic impact from the Omikron wave. A barrel of the North Sea Brent currently costs 78.60 just under half a percent more than yesterday.
Run on Krugerrand
The gold price has barely changed, currently at $ 1804 per troy ounce. Many German private investors apparently hedge themselves with gold coins. According to the marketing company Prestige Bullion, South Africa’s Krugerrand gold coin should end the year with a new export record. In the past twelve months up to the end of November, more than 700,000 troy ounces were exported – more than 80 percent of them to Germany, the company said. Such a demand has not existed for at least three decades.
Sartorius at the top of the DAX
The shares of the medical technology manufacturer Sartorius have been increasing steadily for several trading days. Even today, the stock is DAX front runner. The shares of Henkel and Beiersdorf, which are more likely to be “defensive”, are also in above-average demand. At the bottom of the index are papers from Airbus, Deutsche Post and Infineon.
Shortage of staff at airlines
Airline shares are still burdened by staff shortages due to high Omikron infections. The US airline Delta Air Lines canceled more than 250 flights from 4,133 on Tuesday due to increasing numbers of Omikron and storms. The airline announced. US airlines had already canceled more than 1,000 flights on Monday due to staff shortages as a result of new corona infections.
China complains about SpaceX
China has filed a complaint against the United States with the United Nations because of two incidents involving satellites belonging to the US space company SpaceX owned by Tesla boss Elon Musk. “The US ignores its obligations under international treaties and poses a serious threat to the life and safety of astronauts,” said Chinese State Department spokesman Zhao Lijian on Tuesday. According to Beijing, the Chinese “Tiangong” space station had to change course twice because satellites of the SpaceX Starlink program were on a collision course with it. SpaceX’s Starlink operates nearly 2,000 satellites. The aim of the program is to give large parts of the world access to the Internet.