FRANKFURT / LONDON (IT BOLTWISE) – After a significant setback on Friday, the DAX recorded a recovery of 1.2 percent on Monday. The focus is particularly on the shares of Thyssenkrupp’s marine division TKMS, which fluctuated sharply on the first day of trading after the spin-off. The shares of Rheinmetall and other defense companies are also showing positive development. The sale of Kering’s beauty business to L’Oréal is also causing a stir.
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After a sharp setback on Friday, the DAX recovered significantly on Monday and was 1.2 percent higher at 24,118 points. The Euro-Stoxx-50 also shows a positive development with an increase of 0.7 percent to 5,645 points. This recovery is supported by positive guidance from Wall Street and strong price gains in Asian markets. In Tokyo, the Nikkei 225 hit a record high, while Chinese stock markets also closed firmly. A key driver of this development is more conciliatory tones in the customs conflict between China and the USA, which want to continue their trade negotiations soon.
A big topic on the market is the first day of trading for Thyssenkrupp’s marine division TKMS after its spin-off. The shares of TKMS show high volatility and rose to up to 107 euros after starting at 60 euros. Analysts at MWB see TKMS as having a high level of forecast reliability and recommend buying the stock. The backlog could get a boost from upcoming orders, which could allow the stock to revalue. For every 20 Thyssenkrupp shares, shareholders automatically received one TKMS share, with Thyssenkrupp retaining 51 percent of the shares.
The shares of defense companies are also showing a positive development after a significant loss on Friday. Rheinmetall shares rose 5 percent, while Renk and Hensoldt rose 6.5 and 7.6 percent, respectively. This recovery is supported by overall market sentiment and positive corporate news. The sale of Kering’s beauty business to L’Oréal for around $4 billion in cash is also causing a stir. This transaction is seen by analysts as a strategic turnaround for Kering.
Overall, the European stock market appears to have stabilized after the recent turbulence. Earnings season is gathering pace, with many companies set to report their third quarter numbers this week. Market participants are looking forward to developments in the USA and Asia as well as further progress in trade negotiations between China and the USA. However, the geopolitical and economic conditions remain challenging, which keeps uncertainty on the markets high.
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