Plug Power share: shortsellers bet against hydrogen shares

EWE hydrogen production in Elsfleth

At least at Plug Power, the analysts do not expect a price slump anytime soon.

(Photo: dpa)

Düsseldorf The shares of Plug Power are looking for direction after their recent pullback. On Friday, the papers of the fuel cell supplier, which is listed on the Nasdaq, are up around 1.6 percent after they started in the red. On Wednesday and Thursday, the shares fell around nine percent after their record rally. Compared to their annual high of $ 73.90, the loss is around twelve percent.

Plug Power is one of the hydrogen stocks whose rapid price development even dwarfs the rally of the crypto currency Bitcoin. Investors are literally scrambling for companies that manufacture fuel cell drives or offer systems for the environmentally friendly production of this gas.

With the prospect of a change in climate policy, the new US President Joe Biden whipped up the appetite for “eco” systems. A lot of money is currently flowing into the industry from speculative investors, says Emmanuel Cau, chief investment strategist for European stocks at Barclays Bank.

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Dax gives profits and closes in the red

Düsseldorf A strong start with a weak continuation: This is how trading on the German stock market can be described on Thursday. The DAX closed 0.1 percent in the red at 13,907 points after briefly making the jump over the 14,000 mark in the morning.

The trading day was completely different for the two smaller Dax brothers, MDax and SDax. As on the previous day, they achieved new records. The two indices in the second row of exchanges rose to highs of 31,905 and 15,714 points, respectively.

For the Dax, the next goals are clearly outlined: Prices above 14,030 points, the latest interim high of the current correction, would probably drive the index towards 14,132 points, the previous record high. The current daily high of 14,029 points underscores the importance of the short-term resistance in the form of 14,030 points.

A new Dax record high is possible in the coming trading days, but the chances of further price increases are initially limited. For example, according to the analysis of the investor survey conducted by the Frankfurt Stock Exchange, behavioral economist Joachim Goldberg expects profit-taking in the range of 14,150 to 14,200 points at the latest. “The lid is on the Dax,” he says.

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To understand this forecast, a look back at the past trading days helps. For investment professionals, the 13,720 point mark was and still is the linchpin in the perception of gains and losses. It is the closing level of the previous year and the starting level of institutional investors for the new stock market year.

The professionals used the price slide last Friday to 13,672 meters to buy again or to close out their hedges against falling prices. Accordingly, the sentiment indicator of the Frankfurt Stock Exchange turned positive because the expectations of the investment professionals were met and they were able to buy at favorable prices. They are no longer under pressure to invest in the market again, but rather they will try to take profits.

This will align the mood among private investors and professionals. Sentiment expert Stephan Heibel already criticized after evaluating the Handelsblatt survey Dax Sentiment on Monday of this week that there was no willingness to buy that could drive the Dax significantly higher.

Club Talk with Jürgen Röder

Because the professionals used the price slide last Friday and on the Monday of these weeks to around 13,700 points for shopping, the threshold for further investments falls accordingly. According to Goldberg’s estimate, this is more in the range of 13,450 to 13,500 meters.

In addition, the international fund managers are already overweighted in stocks in the euro zone. This means that demand from abroad remains limited.

Automotive values ​​in demand

In the Dax stocks, the auto stocks were very popular with investors. Volkswagen and Daimler shares are among the DAX winners with a plus of 2.8 percent and two percent. The European auto sector index climbed to its highest level in fourteen months. The Dax winners list is headed by the papers of the delivery service Delivery Hero with a premium of 3.6 percent.

Zooplus even shone with a plus of 10.4 percent. The titles of the online pet supplies retailer are more sought after by investors in view of the extended corona restrictions, as they are seen as benefiting from the stay-at-home trend.

The record hunt for the share shop pharmacy continues

Shop pharmacy: The share price hits a new record high for the third day in a row. The new high is 192.20 euros, an increase of almost five percent compared to the previous day. In the past twelve months, the price of the online pharmacy rose by a total of 320 percent. The next mood driver for the success-spoiled shareholders was the strong figures of the competitor Zur Rose, whose shares in Zurich also rose by five percent.

The German-Dutch company has a market capitalization of 3.3 billion euros. A proud figure considering the company does not disclose any profit. The full annual report for 2020 is to be published on March 3rd.

Thyssen-Krupp: The industrial group has suspended the sales process for its cement plant construction subsidiary. As the Ruhr group announced to its employees in a circular last week, several companies had submitted an offer for the business after carrying out the mutual audit. “We were not convinced by the offers available to us,” says the letter that the Handelsblatt has received.

Apparently, investors are pleased with the news. The share price rose 1.6 percent. The paper is already in a brilliant upward trend, the price has more than doubled in the past three months.

Aurubis: Thanks to robust demand, the copper smelter is now aiming for an operating profit of 27 to 330 instead of 210 to 270 million euros for the year as a whole. Aurubis shares then rose temporarily to a two-and-a-half year high of EUR 70.36 and closed 5.8 percent up at EUR 69.98.

US President Biden is considered a burden on Bitcoin

Fears of stricter regulation under the new US President Joe Biden pushed the Bitcoin price down on Thursday. The cryptocurrency fell eleven percent to just over $ 31,000. The cyber currency has lost almost a quarter since its record high of $ 42,000 in early January.

During a Senate hearing on Tuesday, Janet Yellen, who will head the U.S. Treasury Department under Biden, voiced concerns that cryptocurrencies could be used to fund illegal activities.

Joseph Edwards of crypto broker Enigma Securities said the statements had led to increased outflows. But it is still unclear what steps the Biden government would take – if at all. “We think, however, that it’s probably still just a momentary weakness and not a fundamental trend reversal,” said Edwards.

In addition, many investors are currently increasingly shifting their assets into alternative currencies, especially ether. This is proven by the ratio between Ethereum and Bitcoin, which has risen by over ten percent on a weekly basis.

What the Dax chart technology says

The focus is on the 13,500 point mark on the bottom. Medium-term investors can move their stop-loss mark in this area, depending on their strategy and risk tolerance. Prices below 13,672 points, the correction low since the record high, would be the first indication of a slide towards 13,500 points.

What’s the next goal on the top? For the technical analysts at Bank HSBC, the 14,228 point mark is the next point of contact, which is not far from the current record high of 14,132 points. From a technical chart point of view, a target price of 14,700 meters can be derived in the coming days and weeks.
Here you go to the page with the Dax course, here you can find the current tops & flops in the Dax.

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Wall Street loses easily after a triple record

The New York Stock Exchange on Wall Street

The New York Stock Exchange is located on the famous street.

(Photo: dpa)

Frankfurt, New York On the first full day of office of the new US President Joe Biden, Wall Street loses momentum. The US standard value index Dow Jones closed hardly changed on Thursday at 31,176 points. The technology-heavy Nasdaq advanced 0.6 percent to 13,530 points. The broad S&P 500 stagnated at 3853 points.

The valuations are now quite high, warned Chris Osmond, chief investor at the asset manager Prime Capital. Therefore, mishaps in the coronavirus mass vaccinations could quickly lead to setbacks. In addition, the new US President Joe Biden must expect resistance not only from Republicans, but also from some Democrats to his planned billion-dollar aid package to cushion the consequences of the pandemic.

The buying mood also dampens the continued tense situation on the US labor market, said Ryam Detrick, chief investment strategist at asset manager LPL Financial. “From an economic point of view, we are not yet out of the woods.” The general mood of investors remains positive, however, interjected Shamik Dhar, chief economist at asset manager BNY Mellon. “From their point of view, the benefits of the additional economic stimulus more than outweigh the negative effects of higher taxes and stricter regulation. In addition, monetary policy will probably remain loose.”

Bitcoin and Ethereum, on the other hand, fell again: After their recent record highs, the two cyber currencies fell at times by more than ten percent to $ 30,975 and $ 1,162 respectively. “The very big risk appetite is history for the time being,” said analyst Emden.

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An end to the current downturn is not in sight. Against this background, investors threw companies from the cryptocurrency sector and companies that deal with the blockchain technology underlying Bitcoin & Co from their depots. Riot and Mara’s papers collapsed by up to 13 percent.

The oil price also fell. The US variety WTI fell 0.5 percent to $ 53.02 per barrel (159 liters). According to stockbrokers, the trigger for the sales was the surprising increase in US inventories.

Individual values

Mytheresa: Meanwhile, Mytheresa celebrated a brilliant debut on the stock market. The shares of the Munich-based online luxury fashion retailer rose to $ 36.03. The company had issued the papers at $ 26 each, which was at the upper end of the increased offering range.

United Airlines: United Airlines shares fell nearly six percent. The coronavirus pandemic brought the airline a surprisingly high loss of billions. Thanks to planned savings, however, the operating profit margin in 2023 will again exceed the value of 2019, predicted analyst Helane Becker from asset manager Cowen.

XBiotech: Encouraging test results for a coronavirus drug give manufacturer XBiotech one of the biggest price leaps in the company’s history. The shares of the pharmaceutical company rose in early trading by almost nine percent and listed in the further course of almost five percent in the plus. According to the company, its agent also neutralizes the mutated variants of the Covid-19 pathogen. In the course of trading, the minus is reduced to four percent.

Eli Lilly: According to a study, an antibody drug from Eli Lilly has reduced the risk of Covid-19 disease in nursing home residents by 80 percent. Still, the rate falls 0.7 percent just below $ 200. The study included 965 people – 299 residents and 666 employees – who tested negative for the coronavirus. They were either treated with the antibody drug bamlanivimab or received a placebo. After eight weeks, study participants were 57 percent less likely to develop Covid-19 when treated with the agent.

Intel: The Intel shares gained 6.5 percent. In the final quarter of 2020, the chip manufacturer exceeded market expectations of $ 17.5 billion with sales of $ 20 billion. Other tech heavyweights like Apple and Advanced Micro Devices each grew by more than three percent.

Alcoa: The papers of the aluminum producer Alcoa even collapsed by more than 12 percent after quarterly figures. Bank of America analysts complained that the company expected higher costs and at the same time had to spend cash on pension obligations.

The Travelers: The shares of the insurer The Travelers included in the Dow were among the winners in the leading index with a plus of 2.6 percent. Earnings per share in the final quarter of 2020 exceeded even the highest of the numerous analyst estimates.

More: Blackrock offers investment in cryptos for the first time

US stock market expert Koch: “The reporting season on Wall Street begins extremely robustly”

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Investors take greater risk

Frankfurt The stock exchanges are not euphoric, but they have started the new year properly – and that obviously gives investors hope. The bottom line is that more than half of the international fund managers surveyed by Bank of America (BofA) each month have overweight stocks in their own portfolios.

The last time the rate was that high was three years ago. At the same time, 19 percent of investors said they hold more risks than usual. The rate of risk-taking investors has never been so high.

With regard to stocks, the overweighting means that the surveyed portfolio managers at fund houses, companies, pension funds, insurers and banks hold more stocks than the guidelines for their respective houses require.

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Nikkei, Topix and Co.: Japan’s stock exchanges start at discounts – profit-taking after highs

Coronavirus – Stock Exchange

Investors in stock exchanges are cautious.

(Photo: dpa)

Such In Japan, investors held back a day after hitting a 30-year high. Many buyers obviously wanted to wait for the upcoming reporting season, others took advantage of the soaring to make money.

The leading Nikkei index fell 0.3 percent to 28,663 points at the start of trading. The broader Topix dropped 0.2 percent to 1,856 meters. Daiwa Securities analyst Hideyuki Ishiguro said the downtrend was mainly due to profit-taking after US stocks hit new highs.

More: US markets are losing momentum after Joe Biden’s inauguration. Investors continue to hope for an economic stimulus package. Cryptocurrencies are losing a lot in value.

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Klaus Kaldemorgen: No speculative bubble in tech stocks

Klaus Kaldemorgen

The fund manager is closely monitoring the boom in technology stocks amid the pandemic.

(Photo: Bernd Roselieb for Handelsblatt)

Frankfurt The man is the face of DWS: Klaus Kaldemorgen. In around four decades, he has earned a high reputation in the funds division of Deutsche Bank – even among competitors. Now the 67-year-old sees risks in the floods of money from central banks and governments to support the economy.

Kaldemorgen expects inflation to rise and bond yields to rise slightly. He therefore only has a few bonds in his eleven billion euro mixed fund “DWS Concept Kaldemorgen”.

In the pandemic, the strategist is closely monitoring the boom in technology stocks. This year, however, Kaldemorgen sees greater opportunities for companies from traditional industries whose prices have suffered in the course of the economic downturn. He names, for example, the fields of chemistry, cement, raw materials and cars. Here, stocks would also attract with high dividend yields.

Last year his fund had made a slight loss. This year, the DWS man is aiming for a profit of four to five percent.

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New record high on the Nasdaq

The New York Stock Exchange on Wall Street

The New York Stock Exchange is located on the famous street.

(Photo: dpa)

Frankfurt, New York The reaction of US investors to the change in the White House could hardly have been clearer: On the day of the transfer of power from Donald Trump to Joe Biden, the prices climbed to highs. Especially on the technology-heavy Nasdaq stock exchange, investors grabbed it on Wednesday. The Dow Jones Industrial also made it to another record high shortly before the end. With an increase of 0.83 percent to 31,188.38 points, the Dow went out of trading.

The Nasdaq 100 drove share purchases 2.31 percent up to 13,296.45 points. Like the very broad-based Nasdaq Composite, it reached a record high. Strong quarterly figures from the online video provider Netflix provided an additional boost. Shares shot up nearly 17 percent and also peaked. The S&P 500, which comprises 500 companies, also hit a record high by 1.39 percent to 3851.85 meters.

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Chart technicians see so much price potential in the Dax

Price table of the Frankfurt Stock Exchange

In January, the Dax broke the 14,000 point mark for the first time. Chart technicians see further potential.

(Photo: dpa)

Düsseldorf The situation is tricky. Rapidly rising stock exchanges are accompanied by a similarly severe economic slump as in the 2009 financial crisis. The renewed lockdown does not suggest a rapid recovery. In such a phase, the overheated stock markets should actually only fall. But four well-known chart technicians who asked Handelsblatt at a zoom conference about the prospects for the current stock year see it very differently.

The unanimous tenor is: The Dax continues to rise rapidly and will only be susceptible to setbacks in the second half of the year. In her opinion, the driver of the development is no longer the US market, which has so far been strong but has run too hot, but Europe and Germany.

Technical analysts do not derive their forecasts from real economic developments including corporate profits and the outlook of the corporate boards, but rather they draw their conclusions from the chart of the past. They rely on recurring patterns.

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MDax turns 25 – and beats the Dax by lengths

Dax board on the Frankfurt Stock Exchange

The index of medium-sized German listed companies will change in 2021.

(Photo: dpa)

Frankfurt He stands in the shadow of his big brother, but doesn’t have to hide behind him. On the contrary: the MDax small cap index has long overtaken the Dax. At least when it comes to performance. Since its inception 25 years ago on January 19, 1996, the MDax has grown by more than 1100 percent. Since then, the eight-year-old Dax has “only” gained a good 500 percent.

However, the MDax with its 60 medium-sized companies is not in the focus of investors. The Dax with its 30 values ​​steals the show from him as the figurehead of German corporations. Ali Marsawah, analyst at the fund rating company Morningstar, sums it up: “Most investors – institutional as well as private investors – look primarily at the Dax.” This also means that the MDax is paid much less attention by analysts.

There are many reasons for the better performance. The companies in the MDax are mostly smaller than the big ships in the Dax. That makes them more flexible, they can react faster to changes in the environment. A number of them are also among the global market leaders or at least among the leading providers in their respective industries. For Christine Bortenlänger, head of the Deutsches Aktieninstitut, the “diversity of the industries represented and the innovative strength of the midcaps represented there distinguish the MDax”.

The analysts at DZ Bank also emphasize that the “continuous mix with freshly growing companies in the smaller indices is greater”. The shares of the individual companies in the MDax, however, often fluctuate more than those of the individual values ​​in the Dax. This is also due to the fact that the shares of medium-sized companies on the stock exchange are less liquid than those of the DAX companies.

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The index of medium-sized stocks beat not only the Dax, but also the very little brother SDax with 70 smaller companies. The SDax was launched a good three years after the MDax and has grown by around 430 percent since then.

Loser of the index reform

The better development of the MDax compared to the SDax is mainly due to the fact that the particularly good companies move up to the MDax relatively quickly with rising exchange rates. The MDax thus benefits from good companies for a longer period of time than the SDax – because the hurdles are significantly higher for advancing to the Dax with its 30 values.

graphic

Meanwhile, the MDax is facing a major change in its anniversary year. In the course of the index reform initiated by the scandal company Wirecard, the Dax will be increased by ten values ​​to 40 in September; In return, the MDax for medium-sized stocks has shrunk – two years after it was expanded from 50 to 60 – to 50 companies again.

In September ten MDax companies rise to the Dax

This means that the MDax loses its largest companies. For braid longer, the MDax, which has lost a third of its market capitalization and thus drastically in importance, is the big loser of the reform. Many investors had made similar statements in the course of the discussions about an index reform.

The aircraft turbine manufacturer Airbus, which in terms of market capitalization has actually been in the leading index for a long time, is considered a sure climber in the Dax. So far, however, it has failed due to its comparatively low trading volume.

The candidates for promotion from the MDax to the Dax also include experts from the Siemens spin-offs Siemens Healthineers and Siemens Energy, the fragrance manufacturer Symrise, the online retailer Zalando, the laboratory technology provider Sartorius, the biotech group Qiagen and the chemicals dealer Brenntag.

More: From Airbus to Zalando: These are the hottest candidates for the Dax 40

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These stocks benefit from Joe Biden’s election

Wall Street in New York City

Wall Street sign on the New York Stock Exchange: The new President Joe Biden could also have lasting consequences on the stock exchange. REUTERS / Carlo Allegri / File Photo

(Photo: Reuters)

Frankfurt, New York Joe Biden doesn’t want to waste any time. At the end of last week, he already presented details of a new, extensive stimulus package, which he wants to adopt as soon as possible. “A crisis full of human suffering is unfolding before our eyes. We have to act, now, ”urged Biden at a press conference.

For two weeks it has been clear that Biden’s Democrats will have a majority in both the House of Representatives and the Senate. After the Senate runoff election in the US state of Georgia, the party has a wafer-thin lead in the chamber that was previously led by the Republicans.

The so-called “blue wave”, on which investors speculated even before the presidential election, can now start rolling. What does this mean for US stocks after the election? These industries and companies could particularly benefit from Biden and the Democrats:

1. Health

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