DAX and Co with “gum on the shoe” – Evotec, Teamviewer and Zalando in focus

Go then! At the end of another turbulent week, strong US stock markets gave the DAX a boost. In the US, for example, new home sales have surged after the recent downturn, somewhat lifting investor sentiment. But a look at individual stocks shows that the situation remains very volatile.

After the latest jump, Germany’s leading index rose 1.59 percent to 13,118 points, almost making up for the week’s losses. On Friday, the MDAX rose by 1.71 percent to 26,952 points. The German stock market coped well with weak sentiment data from the German economy and a profit warning from Zalando.

Analyst Voices

“Fears of a recession will not allow for a permanent relaxation in the stock markets for now,” writes Robert Halver, capital markets strategist at Baader Bank. Concerns about inflation, recession and war have stuck “in the stock market like chewing gum,” says Halver. However, he also describes the recent mass selling of shares as a kind of “capitulation”, although it is not yet clear whether the sell-off is complete. The Dax has lost almost eleven percent since its temporary high in early June. However, Halver also points out: “There is a lot of money waiting on the sidelines, which, when the outlook improves, immediately dares to return to the stock markets and ensure price stabilization,” adds Halver.

Forecasts like those from Zalando should not set a precedent before the reporting season is just starting, writes Jochen Stanzl, chief market analyst at CMC Markets. Otherwise, the upcoming reporting season could become something of a revelation.

individual values

Course from ZalandoShares are up about 18% from the day’s lows. Analysts were mostly surprised by the scale of the forecast decline, but in many cases they left their price targets above current levels. Today’s price increase was largely attributed to a market of short sellers.

at team spectator multi-day stabilization ended. The loss of the day in the MDAX lost about 6 percent. The price has effectively bounced off the bottom of the level that acted as support a few months earlier. That means the bears have the upper hand for now.

Evotec On the other hand, it took the lead in the MDAX with a price increase of almost 6 percent. However, this increase does not change anything on the sick table.

Lots of volatility in both directions – typical bear market! A real, completely clear signal cannot be given either from a technical chart or from a news point of view. After all: 13,000 points on the DAX was not undermined, at least at the end of the week. However, US stock markets did much better last week. The DAX is down slightly on a weekly basis, while the Dow, Nasdaq and S&P are expected to close a few percent higher.

(with material from dpa-AFX)

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