Tag Archives: german stock exchange

ISE Stock Exchange German press into the red in 4Q

FRANKFURT (Dow Jones) – High depreciation of the U.S. derivatives subsidiary, International Securities Exchange (ISE) led the German Stock Exchange in the fourth quarter as expected in the red.

As the Dow Group announced on Tuesday evening in Frankfurt, while sales rose to 518.4 million from EUR 505 million, while had expected Dow Jones Newswires poll of analysts of 528 million EUR turnover. At the same time the net loss after tax rose to 61.2 million from third parties, and EUR 33 million last year. Here, analysts had expected minus EUR 83 million. In the third quarter, the German stock market was in the black.

Again, the derivatives exchange caused quite a quarterly loss of DAX-listed company. Exactly one year ago, the German stock market to EUR 420 million already had been written originally purchased for EUR 2.8 billion U.S. subsidiary. As previously announced, the ISE, the parent company is now forced to income to around EUR 453.3 million depreciation, of which 220 million EUR.
Background to the recent book losses are still pending approvals for certain functions and the restrained market development. The U.S. derivatives subsidiary ISE is struggling, some American options exchanges that promote the business through high incentives to their customers. In addition, competitors such as belonging to the NYSE € Next Amex market participants as owners have brought on board. These direct order flow to the Amex to now. Even last summer, a U.S. court also ruled that only the Chicago Board Options Exchange (CBOE) lucrative options on the S & P may offer 500th
The prevailing low interest rate environment also impacted the quarterly results in the securities clearing. Net interest income in the banking business of the subsidiary were to Clearstream to 16.9 million, from EUR 17.7 million and met so that the market expectation.
EBIT of the Group was in the last quarter of minus EUR 219.3 million compared to minus EUR 166 million. Thus, it was below the forecast of analysts minus EUR 233 million. Basic earnings per share was EUR 0.33 EUR 0.18 EUR minus a year earlier.

Deutsche Börse shares in negative territory

HB FRANKFURT. A threat of further depreciation of the U.S. equity options exchange ISE has overshadowed solid quarterly results of the German stock market and sent the shares of the stock exchange operator into the red. The title fell on Thursday against the market trend, just under one percent to 50.82 euros and were the second biggest loser on the Dax. The probability of a renewed depreciation have increased, the German stock exchange had announced on Wednesday night. Should the long-term business prospects will not improve the Eurex daughter was in the fourth quarter to expect a reduction in value.

"The imminent depreciation of tangible assets of ISE is clearly a big disappointment for us," said LBBW analyst Martin Peter. In mid-May have emphasized the management problems, the growth scenario for ISE is completely intact. A 20 percent drop in market share is fully priced in the first ISE amortization in the fourth quarter of 2009.

A real surprise is the announcement for many experts not. Even before some analysts had thought that the misery is endured not because of falling trade volumes in the U.S. options exchange. The summary of the derivatives exchange Eurex ISE, the only major acquisition in recent years the German stock exchange loses, has long been market share to rivals such as Nasdaq OMX, NYSE Euronext € CBOE. They dig the ISE with fee reductions ever the water. There are also regulatory hurdles.

It is not clear yet how much the stock market still has to write off. The still recognized intangible assets of ISE are according to analysts at 850 million euros. They expect, however, no depreciation in full, first estimates range from 250 to 500 million euros. In the fourth quarter of 2009, the German stock market has already written off 420 million euros on the ISE, and was therefore the first time in its history slipped into the red.

The operations of the German stock exchange group with business lines Xetra, Eurex and Clearstream were in the third quarter, despite Wall summer months in total slightly better than expected by analysts: A slight increase in revenue from one percent to 504.3 million euros and the strict austerity measures were the operating result (EBIT) before restructuring costs by seven percent to 257.4 million euros increase. The adjusted surplus rose by nine percent to 171 million euros. Analysts had expected only with a turnover of 502 million euros. Adjusted EBIT they had expected 240 million euros, 139 million euros in surplus.

The recovery of the global economy have had the volumes in the cash and futures markets, despite the less pronounced fluctuations slightly increase, said the stock market. However, the momentum slowed in the second quarter compared to the more lively again.

"Fat finger" makes a stir

DÜSSELDORF. A small typing error has caused quite a stir last week in the Handelsblatt exchange game. A lead broker for the stock was of Tria IT instead of 2.75 € accidentally a course of 75 € one – much to the delight of the player "Jadezocker. He had given up for the Tria share an automatic sell order at a price of 70 €. named in the stock market jargon "fat finger – – By mistake, the order was raised, his account value shot at more than 300 000 € in the air.

Other investors profited briefly from the alleged price jump at Tria. The paper of the insolvent IT company enjoys an amazing popularity in the Stock Market Game: Behind the paper by Deutsche Bank, which is required in the course of the capital strong, Tria is the most heavily traded securities. Reason, a mysterious price increase in September. Out of nothing as the stock rose 35 cents to 18 €. The explanations range from speculation on a way out of bankruptcy next come up to replacement purchases by speculators betting that a price drop would have. Meanwhile, the price has fallen back to 2.70 €, but many investors appeared to speculate on a repetition.

The false Asked course for Tria remained on the stock market even without consequence: "The Rules and Regulations provides that lead broker can correct aberrations such taxes until the next price determination in real words would be no order has been executed at that price." Said Edda Vogt that the match at the German stock exchange organized. The Stock Market Game, which does indeed in the prizes in regular trading, but has no lead brokers, this is no correction mechanism. "But here come for error, the trades will be corrected later," says Vogt.

In the adjusted stock market game standings secured "champs9" with a value increase of 79 823 € the week victory. In addition to leverage certificates on the Dax, he owns shares of biotech company MediGene, the U.S. truck freight forwarder YRC Worldwide and Asia Water Technology of penny stocks in the portfolio.

In the overall standings after three weeks ago, "champs9" set with a portfolio value of 119 199 euros to the top. The leader of the past week, "Forlan" slipped to second place from this. After they had not traded for several days, she has become active again and is now a virtual capacity of 112 951 €. Third in the leading trio and the last player with a six-figure portfolio volume is "SHK", which invested in certificates and Dax in the shares of German Bank, Dialog Semiconductor, Infineon and Solar World.

XETRA-MITTAG/Etwas easier – German bank recover

DAX_chart_realtime_small FRANKFURT (Dow Jones) – German shares are traded on Thursday afternoon still a bit easier. The DAX lost 0.3% at 13.00 clock or 20 to 6227 points. Something will be charged the atmosphere , according to merchants from a downgrading of Spain by Moody’s. Quite surprisingly, do not get the step , however, says the trade. (Photo : German Stock Exchange)

Market participants believe that the sideways movement of the last days between just 6200 and 6300 good points continues. Quarter- end were in the course rather smaller purchases possible , some market participants might , to many people after the surprisingly strong September or improve their balance sheets.
With voltage, the investors are waiting on statements from the Irish government about the way forward for the troubled Anglo Irish Bank. According to Standard & Poor ‘s (S & P ) could rescue the costs are EUR 35 billion , which would correspond to about 22 % of Irish GDP. According to the Minister of Finance could be the new debt is now rising to 32% of GDP.
Meanwhile, sounding statements of the Irish Central Bank to Anglo Irish in the opinion of a dealer " encouraging ". According to the central bankers , the total capital needs of the Bank amounted to 29.3 billion EUR or additional EUR 5 billion . "That would be a good number, " says the trade after S & P has estimated the cost much higher.
However, it is not clear how the estimates were . For the information of the Central Bank based on a stress scenario. Furthermore, it was unclear what would happen with the subordinated bonds. Thus, the uncertainty is still not banned.
One day before the end of rights trading certified dealer for the last arg of the capital under the wheels of obscurities shares of Deutsche Bank’s upside potential. " I suspect that some players have recently gone into the stock short , hoping to get great rates on auction tomorrow at the new pieces , "says the dealer.
He predicted , however, that this bill would not rise , rise of the options price and be covered no later than Friday, the short positions in the stock would have . German bank gain 1.5% to 39.85 EUR .
Even more it goes up with Thyssen, the increase by 1.9% to EUR 24.03 . Investors react with relief to the collective bargaining agreement in the steel industry. " That would also significantly less able to turn out for the company , "says a participant . The compromise both sides could live with. The threat of strike was averted it.
On a more bullish sentiment by statements of ThyssenKrupp CEO Ekkehard Schulz to the ‘FT’ will . The production run at full speed , the demand from the automotive, electronics and household goods sector was large, and it is likely to until well into next year to change anything , the CEO is quoted as saying.
In the second row put MDAX Salzgitter by 2.5 % and the shares of the steel trader Kloeckner & Co by 0.9 %.
On the losing side at the top of the DAX Allianz related to a fall of 1.2 % to 82.63 EUR . Dealers refer to the assessment of the EU ‘s General Prosecutor, that insurers are not the prices of products should the sex of the policyholder addictive. The insurer is the subject of " sensitive, " said a dealer.
For example, many insurers would offer to lower premium payments for life insurance for women since it reached a statistically higher age. Therefore is also a long court dispute to be expected. The award of the EU – Attorney-General is not binding and have no immediate practical consequences , but will follow a rule by the European Court of Justice.
The MDAX- listed shares of Cable Germany loses 1.0% to 22.29 EUR . "The placement is not unexpected " , is heard by a dealer. Such speculation had been complacent a week ago . After the very good recent development charges would be in the title not so bad , it is said of someone else.
The main shareholder of Kabel Germany , Providence Equity Partners sold a stake of up to 16.7 % in the cable operator. Prior to this position was 60,37% at Providence Cable Germany. The pieces are to be allocated EUR 27.50 , as they say in the trade.
The share of the airport operator Fraport increases by 1.3% to 44.62 EUR . In trade , reference is made to a newspaper report that the company will grow in the coming years much faster than the market. One analyst says , however, that the statements move in line with expectations .
During the MDAX as the DAX by 0.3 % yields , pulls the TecDAX by 0.4 %. Reason, increasing prices of some solar stocks, especially of SolarWorld, the 5.5 % gain to 9.18 EUR .

DJG / hru / mpt / cln / mrf 

XETRA-MITTAG/Knapp claims – banks under pressure

2010-09-29_mittag FRANKFURT (Dow Jones) – The prices on the German stock market tend noon on Wednesday claimed scarce. Against 12.55 clock BST loses the DAX 0.2% or 15 points to 6261 points. At the start of trading recorded , the index a small increase , fell then back , however, and acted in the day’s low 0.8% lighter at 6223 points. (Photo : German Stock Exchange)

" There is probably as in the past few weeks, the decisive impetus for a breakout up or down , as will be discussed in the broker comments for weeks , "said one trader.
" drop The volume and the volatility increases , "says another dealer . Obviously , investors reluctant to take on the now are increasingly gone on for three weeks of sideways movement at a high level of returns from the business. short and medium term interpret the technical analysis points to an extension of the suspended game.
Among the losers are on Wednesday afternoon the banks . For the German bank is about 2.6% down to 39.17 EUR . For a dealer to refer to the current capital increase and the large supply of shares. It should give negative comments to the banking sector and the concern about the consequences of increasing bank regulation reflected in the courses. Commerzbank fall 1.3% to 6.01 EUR .
RWE lost 1.3% to 49.59 EUR . The analysts at UBS have started their coverage of RWE again , however, two steps lower at "Sell" . The target price has cut the bank to 47 of before 68 EUR .
On the winning side, however, BMW displayed price premiums by 1.5 % to 51.46 EUR . The Chief Executive Officer Norbert Reithofer said the FAZ, which be would the savings target of 6 billion, EUR surpassing 2012. Daimler set 0.7% to goes to 46.53 EUR for MAN is 1.3% up to 81.83 EUR . Among the winners also are Fresenius, down the 2.1 % to 60.42 EUR .
Infineon rise by 0.9 % to 4.91 EUR . Dealers talk about a good mood for chip manufacturers in the face of a positive ranked outlook, the U.S. computer company Hewlett -Packard. also good Specifications are for technology stocks of the Asian exchanges.
In the second row of the German stock market rise MTU Aero Engines by 1.8 % to 43.12 EUR after Morgan Stanley its target price has raised for the stock by 5 EUR to 50 EUR . TUI expand the gains of Tuesday by a further 5 % to 9.40 EUR .
The TecDAX , the shares of Q -Cells’ 16.2% act easier at 4.13 EUR . The stock is to the right of option shares -adjusted from a capital increase .

DJG / mgo / bek / cln / sh