On the German stock market, prices should also increase somewhat on the second trading day of the week. The X-Dax as an indicator for the leading index Dax signaled just under an hour before trading opened on Tuesday an increase of 0.3 percent to 15,892 points. He remains in close contact with the record high of mid-August at 16,030 points. The leading Eurozone index EuroStoxx 50 is also expected to be friendly.
Investors focus on the meeting of the representatives of the major central banks. In the small town of Jackson Hole in the US state of Wyoming, their annual monetary policy exchange and outlook will take place from Thursday. Recently, concerns about a future less loose US monetary policy had slowed the stock markets.
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Lanxess plans to take over billions
Lanxess could move into focus under the individual values, because the chemical company wants to expand its business around material protection and preservatives with another billion takeover in the USA. The microbial control business of the manufacturer of fragrances and flavors IFF is to be bought for around 1.3 billion US dollars (1.1 billion euros). Lanxess boss Matthias Zachert sees the group on the way to becoming one of the world’s largest providers of antimicrobial protection products. The purchase price is to be financed by issuing bonds. In addition, the currently suspended share buyback program will not be continued. Before the trading session, the share fell by around 1.5 percent on the Tradegate trading platform. One trader called the takeover price “a bit expensive” at first glance.
CTS Eventim on a recovery course
In addition, CTS Eventim and Dermapharm submitted quarterly reports before the start of trading, which helped their shares to make profits on Tradegate. The ticket marketer CTS, which was badly shaken by the Corona crisis, started to recover in the second quarter, but is still far from the pre-crisis level. In addition, there was still no specific forecast for business development for the year as a whole.
Bitcoin falls back below $ 50,000
The digital currency Bitcoin fell back below the $ 50,000 mark on Tuesday. Most recently, the oldest and best-known crypto investment on the Bitstamp trading platform was 1 percent lower at $ 49,700. It was only on Monday that the cyber currency passed the round mark of 50,000 US dollars. Other currencies such as Ether, the second largest internet currency after Bitcoin, also rose at the beginning of the week.
Bitcoin has risen by about $ 20,000 since mid-July. However, the cryptocurrency is still a long way from its record high of just under $ 65,000, which was reached in mid-April.
US stock exchanges: Nasdaq and S&P with new highs
On the US stock exchanges, the recovery that began on Friday continued at the beginning of the week. According to traders, investors have lately taken a little more courageously at the reduced price level – and the choice fell on the broad market and technology stocks on Monday, as the records of the indices that represent these share groups show.
The broad-based S&P 500 went 0.9 percent higher at 4479 points, but this was overshadowed by the technology-heavy Nasdaq 100 with an increase of 1.5 percent to 15,312 points. With an increase of 0.6 percent to 35,335 points, the leading index Dow Jones Industrial made a step towards its record level, which is a week old at 35,631 points.
Asia stock exchanges follow Wall Street in the plus
Asian equity markets followed Wall Street’s strong closing price on Tuesday. The full approval of the vaccine by partners Biontech and Pfizer and the easing of concerns about an impending curtailment of economic stimulus measures by the US Federal Reserve reassured investors.
The Nikkei index, which comprises 225 values, was one percent higher at 27,763 points. The broader Topix index rose 1 percent and stood at 1935 points. The Shanghai stock exchange was 0.8 percent up. The index of the most important companies in Shanghai and Shenzen gained 0.7 percent.
Oil prices expand profits slightly
Oil prices rose slightly in early trading on Tuesday. The strong surcharges from the start of the week have thus been expanded somewhat. Most recently, a barrel (159 liters) of North Sea Brent cost 69 US dollars. That was 25 cents more than on Monday. The price of a barrel of the American West Texas Intermediate (WTI) rose 18 cents to $ 65.82.
On Monday, oil prices had increased by more than three US dollars. The decisive factor was, on the one hand, the weaker dollar, which made the commodity traded in the US currency cheaper for many investors and thus increased their demand. In addition, there was the generally good mood on the financial markets, which dragged riskier investments such as oil with them.
Basically, prices on the crude oil market remain under pressure. Before the recent rebound, oil prices had dropped to their lowest level in about three months. The main reason was the spread of the delta variant of the coronavirus, which has been linked to new restrictions and lower economic activity. That weighs on the expected oil demand.