Home News XETRA-MITTAG/DAX solid – Waiting for ISM index

XETRA-MITTAG/DAX solid – Waiting for ISM index


2010-09-01_Mittag FRANKFURT (Dow Jones) – The German stock market is on Wednesday afternoon with a firmer tendency. After the prices were a little crumbled in the early business , they moved in a row , thanks to positive economic data from Asia and VDMA- strong order intake. (Photo : German stock exchange)

To 12.50 clock wins the DAX 1.1% or 65 points to 5990 and recorded it again on the 200- day line in 5960 .
The Chinese purchasing managers’ indices are out in the morning positive. The leading indicator calculated by the bank HSBC in August rose to 51.9 from 49.4 points in July. Values beyond the mark of 50 points are suggestive of an expanding economy. Even the "official "Purchasing managers’ index of the Chinese government to put the previous month and rose to 51.7 from 51.2 points.
In addition, the Australian economic growth positively surprised . In the second quarter, the seasonally adjusted GDP rose by 1.2 % over the previous three months , economists had expected , on average only an increase in their forecast of 0.9 %. Moreover, the German engineering federation VDMA has expressed optimism.
Nevertheless, investors remain cautious. The surcharges have so far mainly on short coverings , so the Coverslipping of short positions . Investors are now waiting on key economic data from the U.S.. First, the ADP employment report could provide important information on the official jobs report on Friday.
The highlight of the day is , however, the announcement of the ISM index for manufacturing industry in the U.S. In afternoon dar. consensus expects a decline in the index to 52.5 points in August to 55.5 previously . According to the strategists at Deutsche Bank , Jim Reid, the ISM index is of great importance.
The index constitutes a good indicator of whether the modified weak data represent only a temporary slowdown or a reference to a possible relapse into recession. For the financial markets , the indicator is already so important because it vitiated by a strong correlation to stocks , bonds and credits .
With the favorable environment justify the strong dealer price increase of Heidelberg Cement. They point to the good figures of Vinci and Bouygues and strong price gains in other cement producers such as Lafarge. " The recent weakness of the cement manufacturer is used to build up positions , "said one dealer. Heidelberg Cement to increase by 4.5% to 33.08 EUR .
In particular, analysts cast the price determined in individual values at the reporting date . With an increase of 0.4 % to 72.10 EUR Siemens remain clearly below the overall market development. The German bank has cut the stock to "Hold "from "Buy . " The force as a defensive Telekom easily lose 0.1%.
With a discount of 0.1 % to 51.65 EUR stay back and RWE . The stock is affected by the changes in the composition of the great pan- indices. The stock has fallen out of the Stoxx 50 index. Moved up in the Euro Stoxx 50 index , however, are BMW. The stock gains 0.7% to 41.96 EUR . Daimler recover more clearly with an increase of 2.7% to 39.39 EUR .
Stark Metro are looking for a premium of 4.1 % to 41.83 EUR . The paper benefited from a so – raising price target to 50 EUR from 47 EUR by Bernstein. Henkel set at 2 % to 37.83 EUR and therefore also benefit from positive analyst comments. So raise the RBS handle on "Buy "from" Hold ". At the same time increases the HSBC target price to 38 EUR from 35 EUR previously .
In the second series of the German TUI stock market are the focus of investors. A report in the Financial Times Germany " According to TUI will assume the outstanding shares in TUI Travel UK . The transaction will be financed by the proceeds from the sale of the TUI stake in Hapag Lloyd. TUI gaining 2.7% to 8.16 EUR .

DJG / mpt / hru / gei / sh