NEW YORK (awp international) – After the record on Friday, the Dow Jones Industrial is likely to start trading a little deeper. Three quarters of an hour before the stock market start on Monday, the broker IG estimated the US leading index 0.35 percent in the red at 35 084 points.
On Friday, a strong labor market report had lifted the Dow and the broader S&P 500 to historic highs. However, the robust data currently also has a downside. Because: “It is becoming more and more apparent that the US Federal Reserve will initiate the turnaround in monetary policy in the fourth quarter,” wrote Commerzbank. Should the Fed actually take a more restrictive course soon, bonds with the prospect of rising interest rates could appear in a more favorable light compared to stocks.
At the beginning of the week, the focus will be on the shares of Biontech listed on the Nasdaq technology exchange. The success of its corona vaccine brought the Mainz company a huge leap in sales and profits. Biontech’s papers gained a good five percent in pre-market US trading.
The Munich traffic technology specialist Schaltbau is about to be taken over by the US financial investor Carlyle. The aim is a strategic partnership to support Schaltbau’s growth and investment strategy. Carlyle announced an offer of 53.50 euros per share, which is 32 percent above the closing price of the Schaltbau share on Friday and 44 percent above the average price for the past three months.
Carlyle is currently also planning to buy the British inhaler specialist Vectura, which is also being courted by the tobacco company Philip Morris. In the takeover race, Philip Morris recently followed suit and trumped Carlyle’s most recent offer. The responsible British regulatory authority has now decided that a formal auction should decide who will be awarded the contract. The corresponding procedure begins this Tuesday./la/jha/
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