Sci-Tech

Losses of historical proportions: the decline in the price of SAP is dragging the Dax economy down

SAP’s very high losses in SAP heavyweight prices on Monday weighed heavily on Dax. The German benchmark index lost 2.31 percent to 12,353.20 points around noon, while shares of the software company fell by more than 18 percent after an unsatisfactory outlook. This means that SAP shares are mainly responsible for minus Dax.

The mood in the market is also bad due to the sharp increase in coronary infections in Europe, the USA and recently again in China.

Due to the growing number of infections, the mood in German companies frowned in October, as the latest business situation in Ifo has shown. The decline was stronger than analysts expected.

MDax 60 medium-sized shares fell 0.67 percent to 27,096.39 points on Monday. The leading eurozone index, EuroStoxx 50, fell 1.7 percent.

After the business data from Sunday evening and the gloomy outlook, SAP recorded price losses of historic proportions. Shares of the most valuable German group have occasionally fallen below 100 euros to a minimum since the beginning of April. Recently, it costs a little over 102 euros.

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Delivery Hero was much ahead in Dax with a plus one percent. Parts of the food delivery service are considered the winners of the pandemic, but have lost significant value in the last few days. Hellofresh set a positive sign in MDax with a plus of 1.6 percent. The sender of the cooking box also benefits from the restrictions in the corona crisis.

Bayer, a pharmaceutical and agrochemical company, is expanding its cell and gene therapy business with the billion-dollar acquisition of Asklepios BioPharmaceutical in the United States. Shares rose 0.8 percent. (DPA)

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