Dax current: Dax is close to 16,000 points – noticeable purchases in Steinhoff shares

This matches the development of the volatility index VDax. This signals which rate fluctuations the futures professionals expect in the next 30 days. The higher the index, the higher the “implied volatility”, as it is called in technical jargon. On Wednesday the value was a moderate 18. At the beginning of the month it was still 28.

The fall in the direction of the 15,800 mark is due, among other things, to the low trading volume: By the afternoon, just 17 million Dax stocks were traded. The daily annual average is around 70 million. The big investors have already closed their books on the stock exchanges for the past year, which leads to thin trading volumes.

The volume was already on the past two days low with 29 and 34 million shares, so relatively few buyers were enough to move the Dax towards 16,000 points. Accordingly, a few profit-taking would be enough to move the Frankfurt stock exchange barometer in the opposite direction.

The jump over the 16,000 point mark should therefore be postponed for the time being – possibly in January, when traditionally new money flows into the stock exchanges. In the past ten years, however, the Dax has not always benefited from this effect.

Data from the Refinitiv financial service show that the Dax has had six times since 2012 in January achieved positive performance, four times negative. When it went up, it was relatively clear, on average by 4.9 percent. The average losses are slightly lower at 3.9 percent.

However, the January performance is only of limited informative value for the stock market year. Both in the current and last year, the Dax fell in the month, but still closed the trading year with a profit.

View of individual values ​​

Deutsche Bank : The financial regulator Bafin imposed a fine of 8.66 million euros on Deutsche Bank thundered . Germany’s largest financial institution has temporarily not effectively implemented the preventive measures specified in a European regulation, which are intended to prevent manipulation of the Euribor reference interest rate, explained the Bonn authority. Deutsche Bank shares were down 1.5 percent.

Infineon: In the wake of weaker US technology stocks, semiconductor stocks were also among the biggest losers in this country. Infineon titles were among the losers in the Dax with a minus of 1.2 percent.

Eventim: The head of the ticket marketer and concert promoter is optimistic for the period from the second quarter. “We believe that we can carry out our many festivals and also large open-air tours like Ed Sheeran’s,” said Klaus-Peter Schulenberg of the “FAZ”. Papers from Eventim lost 0.6 percent.

LPKF: In the SDax of the lower capitalized German companies, the recently strongly recovered LPKF belonged -Shares with a minus of nearly five percent to the losers. The annual balance sheet of the laser specialist was also sobering with a loss in value of a third – the SDax increased by almost eleven and a half percent in the same period.

Hornbach Holding: At Hornbach Holding, moderate initial profits were enough for a record high of 130.60 euros. Most recently, the papers were just below that. Since the beginning of the year there has been a full increase in value of almost two thirds.

Lira fell again

Persistent inflation concerns weighed on the Turkish lira. In return, the dollar rose by around six percent to 12.495 lira, and the euro by more than five percent to up to 14.102 lira. The Turkish currency had gained around 50 percent in the previous week after state guarantees for savings deposits and central bank interventions. Over the year, however, it has depreciated by around 40 percent against the dollar.

The yield on Turkish government bonds also rose further and reached a value of 24.835 percent. At the beginning of the year this was still 12.510 percent. So it is becoming more and more expensive for the Turkish state to go into debt.

Nevertheless, the situation with the credit default insurance had eased somewhat. With these, professional investors can hedge against the risk of default on Turkish government bonds. The annual premium for credit default swaps (CDS) is traditionally given in basis points and in relation to bonds with a five-year term. It was 554 basis points for CDS for Turkish bonds on Wednesday: professional investors paid 5.54 percent of the nominal value of their bond per year to hedge against default.

Shortly before Christmas, this value was 6.24 percent, and has fallen since then. However, it was still exceptionally high. For comparison: For the Federal Republic of Germany this value is 0.08 percent annually.

Steinhoff share caused a sensation

The share of the South African-German trading group Steinhoff caused a sensation. On Tuesday, the papers rose 16 percent after Steinhoff announced that several creditors had agreed to a settlement. The company had worked towards this for years. The group had already reported on an impending agreement on December 15, but only under the condition that enough creditors would also agree to the settlement.

Is conspicuous that the trading volume was already picking up before the reports. “Der Aktionär” reported on speculation that had been circulating for a few weeks that investors may have bought Steinhoff shares that had detailed information on the transactions with the creditors.

Since the beginning of the month, the share is more than 130 percent in the black. On Wednesday there was profit-taking, the share was around five percent in the red from the trading day.

Steinhoff had to admit a billion-dollar balance sheet hole at the end of 2017. The Steinhoff share, which is also listed in Frankfurt, then collapsed to a fraction of its value and is now only a penny stock, so the price is in the cent range. Since then, Steinhoff has been trying to put the business back on a solid footing with a comprehensive restructuring of the balance sheet.

US corporations dominate world stock exchanges more than ever

The world stock exchanges are dominated by US technology groups more than ever. Eight of the ten most valuable companies in the world will be from the USA at the end of 2021. The smartphone and software giant Apple, with a market value of $ 2.96 trillion (as of December 27), is the first company ever to scratch the three trillion mark.

The Apple share has gained 31 percent this year, according to calculations by the management consultancy EY and the Reuters news agency. Microsoft moved up to second place with a plus of 52 percent and a valuation of 2.57 trillion dollars, Google owner Alphabet moved up from fifth to third place with a price increase of almost two thirds and a market capitalization of 1.96 trillion dollars . Alphabet alone is worth more than the 40 companies in the German leading index Dax combined, which come to almost 1.9 trillion dollars.

The most valuable Dax- Wert is not based in Germany: The Linde gases group ranks 77th worldwide with 175 billion dollars, having doubled its market value since the merger of the American Praxair with Munich-based Linde AG. The software company SAP remains the most expensive German company with $ 166 billion in 2021, but falls back to 80th place (2020: 72nd). Siemens (137 billion) makes it again just under the “Top 100” after a year break.

Notice: : 52 o’clock specified.

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