Dax breaks 16,000 points - chemical and automotive stocks in focus, takeover speculation drives prices.

Dax breaks 16,000 points - chemical and automotive stocks in focus, takeover speculation drives prices.

According to a report from www.faz.net, the Dax once again exceeded the 16,000 point mark on Friday. Chemical and automotive stocks were in focus after some analyst comments and takeover speculation drove prices. After the US stock exchanges were closed on Thursday and only traded for a short time on Friday, the stock markets in Asia showed a mixed picture on Friday. After two hours of trading, the DAX stood at 16,005 points, a small daily increase of 0.1 percent. The Ifo business climate index was weaker than expected, but rose for the third month in a row. The Dax gained around 8 percent in November.

BASF recorded share price gains due to speculation about the billion-dollar sale of BASF's subsidiary Wintershall Dea to the oil company Adnoc. Evonik shares were also in demand after investment bank Stifel upgraded the stock from “hold” to “buy”. In addition, new assessments from Barclays Bank on the German automotive sector moved prices. Continental shares were the biggest gainer, while Mercedes-Benz and VW holding company Porsche SE were downgraded.

On the Japanese stock market, the Nikkei index rose by 0.5 percent on Friday. The Chinese stock exchanges, on the other hand, suffered from economic concerns due to mixed economic data and fell 0.7 percent each.

These developments in the DAX and international stock markets suggest that investors are willing to invest in companies from different sectors despite mixed economic data and uncertainties related to the ongoing COVID-19 pandemic. The positive trend in November also shows that stock markets continue to offer good returns despite volatile trading conditions.

The takeover speculation at BASF and the share price gains at Evonik and Continental reflect investors' increased interest in the chemical and automotive sectors. However, Barclays Bank's downgrade of Mercedes-Benz and VW holding company Porsche SE may signal increasing skepticism about the auto sector's long-term prospects. This could lead to a reallocation of investments to other sectors.

Overall, the DAX appears to remain on a solid growth path and investors should keep a close eye on developments on international markets in order to adapt their investment strategies accordingly.