The next record high

The Dax is in a good mood and has a run. It also rose to a record high on Wednesday.

The trading floor of the German Stock Exchange in Frankfurt

Dhe Dax continued his record hunt on Wednesday. At lunchtime, the leading German index gained 0.4 percent to 14,491.27 points. Once again, the focus was on company balance sheets. In addition, moving analyst studies.

On the first two trading days of the week, the Dax had already set historic highs. However, the momentum already subsided somewhat on Tuesday, wrote the Helaba experts. The positive effects of the American aid package for the world’s largest economy already appeared to be priced in, while the prospect of rising bond yields and inflationary tendencies weighed on sentiment. Also with a view to the economic expectations, a lot of advance praise has already been distributed and the valuations are no longer favorable.

Adidas recorded a price increase of 4.4 percent. The sporting goods manufacturer did better than expected at the end of 2020 and, despite the slump in business last year, plans to pay a dividend of three euros per share. In the previous year there was no distribution due to the corona pandemic. In addition, Adidas expects strong growth again in 2021. However, the focus is on the company’s capital market day, when the new five-year strategy is expected to be presented.


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To the detailed view

Thanks to a new buy recommendation from Citigroup, the Deutsche Telekom shares gained around 4 percent and reached their highest level since the Corona crash in February 2020. Citi analyst Georgios Ierodiaconou believes the shares are worth EUR 18.50. “Telekom is not a leader everywhere, but it is consistently well positioned,” said the expert. And from this position you can also do everything well. In addition, the strategic value of the cell tower portfolio is incomparable and offers a lot of options.

In contrast, neither a friendly study by the JP Morgan bank nor positive figures from competitor Just Eat Takeaway helped Delivery Hero: As one of the biggest losers in the leading index, the papers for the food delivery service lost more than 2 percent. Before that, however, they had recovered by up to 9 percent from their interim low on Monday.

Brenntag rose by more than 4 percent to a record high. Thanks to a strong final quarter, the chemicals trader did not suffer as much from the corona crisis in 2020 as experts feared. The proposed dividend increase was also a positive surprise. Brenntag remained cautious for the current year. The outlook met with a positive response from analysts, as did the numbers