7:17 p.m. – Vonovia could cancel the acceptance threshold for Deutsche Wohnen
According to a newspaper report, Vonovia could delete a central condition of its takeover offer for competitor Deutsche Wohnen. The company is considering waiving the previous minimum acceptance threshold of 50 percent for the current takeover offer later this week, reports the “Handelsblatt”, the newspaper citing financial circles. This means that the takeover could be carried out even if the investors again fail to offer Vonovia the majority of Deutsche Wohnen. The company has not yet issued a statement. The real estate company offers 53 euros for each share of the Berlin competitor.
5.45 p.m. – No clear direction at the beginning of the week
On the German stock exchanges, the balance at the start of the week is mixed. The DAX was able to make up ground. After the weak week before, some investors are obviously of the opinion that it is now possible to get back in. The leading index closed 0.6 percent higher – at 15,701. Car values were in demand. Above all, Daimler and Continental rose in price by around four percent, followed by BMW with a price increase of more than three percent. Volkswagen was able to gain 0.6 percent. The MDAX and TecDAX, on the other hand, went down. The MDAX closed 0.8 percent more easily, the TecDAX lost 1.9 percent. Zooplus was the topic of conversation. In the bidding competition for the pet supplies retailer, the financial investor Hellman & Friedman increased its offer by almost a fifth to 460 euros per share in cash. The shares rose by nine percent – to 473 euros. That is clearly above the offer. On Wall Street, the Dow Jones, like the DAX, can make up ground again at the beginning of the week and the euro is quoted at 1.18 12 dollars.
4:45 p.m. – M-DAX and TecDAX dive shortly before the end
Sartorius, a pharmaceutical company, Teamviewer a software specialist, Morphosys a biotech company and the battery manufacturer Varta – they all give in by 3 to 4 percent. So there is no specific industry that is under pressure here, but rather tech companies that tend to be. The TecDAX now drops almost 2 percent in total. The M-DAX is down by almost one percent. This is also due to the development on Wall Street. There the Nasdaq index is also under pressure, i.e. the index for the stock exchange on which many technology companies are also traded.
4:20 p.m. – US stock exchanges wait for inflation data
Investors on the US stock exchanges are venturing a little out of cover again after the largest weekly loss in months. A good half an hour after the start of trading, the Dow Jones rose 0.6 percent. The index of the technology exchange Nasdaq, however, has almost completely given up its initial gains and is now only trading minimally in the profit zone. Last week, the leading US indices had all slipped by around two percent. Stockbrokers are now eagerly awaiting tomorrow’s inflation data. It is hoped that this will allow conclusions to be drawn about the future course of the US Federal Reserve. The forecasts assume a good five percent price increase in the USA in August. If it increases, then the pressure on the Fed to turn off the money will soon increase.
2:25 p.m. – CDU immediate program would be a great burden on the budget
The CDU and its top candidate want to turn things around with an immediate program in the federal election. If the Union would really win and Armin Laschet would actually implement this program, then that might tear big holes in the national budget. The professor of economics at Heinrich Heine University in Düsseldorf, Jens Südekum, has now warned against this. Especially since tax relief is also promised, for example by increasing the child allowance. According to the economic expert, all of this can add up to budget holes in the double-digit billion range. So a lot of money that, on the one hand, does not fit the debt brake, for which the Union has so far stood. Should one move away from it and raise additional money on the capital markets, this can of course lead to shifts there too.
1:16 p.m. – the federal government earns billions in debt
It’s a wrong world. The federal government collects money for getting into debt. When issuing federal securities to finance the budget, around 4.3 billion euros were collected from January to August. This emerges from a letter from the Federal Ministry of Finance, which is available to the Reuters news agency. The billions are due to the negative interest rates on the capital market. Investors lend the federal government more money than they get back in the end, because they believe that their capital is in safe hands with the German state.
11.13 a.m. – Vonovia is making slow progress with Deutsche Wohnen shareholders
The new takeover offer from Bochum for the Berlin competitor Deutsche Wohnen is not exactly received with euphoria. Vonovia announced in the morning that the total number of Deutsche Wohnen shares to be taken into account for the minimum acceptance threshold was a good 34 percent of the share capital and voting rights on Friday evening. The Bochum must come to more than 50 percent of the shares. At this point, the last takeover offer at the end of July failed.
Vonovia shares gained 0.6 percent to 52 euros 90, those of Deutsche Wohnen 0.2 percent to 52 euros 68. The DAX rose 0.7 percent to 15,720 points.
10:48 a.m. – Zooplus shares benefit from bidding competition
In the multi-billion dollar takeover battle for the online pet supplies retailer Zooplus, the financial investor Hellman & Friedman has increased its offer. The investor announced at the weekend that the offer would now be 460 euros instead of the previous 390 euros. This means that Zooplus shares are valued at just under 3.3 billion euros. Hellman & Friedman had already submitted a bid in mid-August, which was supported by the company. Since then, with the Swedish investor EQT and the US investor KKR, two more interested parties have appeared. Zooplus confirmed discussions with the two, who, however, have not yet submitted a bid.
The Zooplus share gained 8.4 percent in the SDAX. The DAX rose 0.6 percent to 15,708 points. The euro is quoted at 1.17 88 dollars.
9:07 am – A friendly start to the week on the German stock exchanges
The DAX started with a plus despite subdued targets from Tokyo and New York. He wins 0.6 percent to 15,708 points. Auto stocks are among the biggest winners in the index. BMW increase by 1.5 percent, Conti and Daimler by around 1.3 percent each. In Tokyo, the Nikkei index closed 0.2 percent higher today at 30,447 yen. The Dow Jones had lost 0.8 percent on Friday. The euro stands at 1.1780 dollars.
8:24 am – Wholesale prices are picking up
Sales prices in German wholesaling rose more sharply in August than they have done in decades. They were 12.3 percent higher than a year earlier, the Federal Statistical Office announced in the morning. The last time there was a stronger increase was in October 1974 with 13.2 percent during the first oil crisis. As a result, the price increase has again picked up significantly. In July the rate of inflation was 11.3 percent and in June 10.7 percent. The development is an indicator of future inflation tendencies and is also closely watched on the stock exchanges because wholesalers are the hinge between manufacturers and end customers.
7.45 a.m. – Summer tourist traffic enlivens Frankfurt Airport
Fraport, the operator of Germany’s largest airport, counted just under 3.4 million passengers in August, around 123 percent more than in the same month last year. This means that more passengers have flown from Frankfurt or landed there in August than in any other month since the beginning of the Corona crisis. However, the numbers are still 51 percent below those before the Corona crisis in summer 2019. And airport boss Stefan Schulte expects a difficult winter.
7.11 a.m. – Restrained start of the week in Asia
In Hong Kong, the Hang Seng Index is currently losing around two percent. The Nikkei index in Tokyo lost 0.2 percent, in Shanghai you can see a small plus of 0.1 percent. In Tokyo, the stock of Toyota loses 2.3 percent. The auto giant also revised its production targets downwards on Friday due to the ongoing lack of chips. The euro is quoted at 1.17 92 dollars.
6:14 a.m. – China wants to smash AliPay
The government in Beijing is tightening the thumbscrews in its own tech industry. She wants to break up the highly profitable AliPay payment app from the fintech group Ant Group and create a separate platform for the company’s lending business. That was what the Financial Times wrote yesterday. The plan also provides that Ant must hand over his user data to a new joint venture to check the creditworthiness. The newspaper reported that it was partially owned by the state.