2024-01-05 17:31:38
One of the old stock market rules, which of course should never be questioned, is the principle “As it starts, so it stays”. The first week of trading on the stock exchange in a new year has the reputation of being something of a horoscope for the rest of the year. And this year, unfortunately, all you can say is: Well then, good night!
We don’t want to talk about the fact that Houthi rebels quickly attacked a freighter in the Red Sea and caused fears all over the world about serious disruptions in international maritime trade. At least shipping company shares benefited from this, because cynical stock marketers thought that a little bit of risk in the freight business could create scope for margins.
But if a defense stock like Rheinmetall, known for tanks and ammunition, is one of the stocks with the highest price gains of all stocks in the German leading index Dax in the first week of a new stock market year – how can a peaceful new year arise from this?
Price losses in the first week
Basically, stock marketers also go into a new year with the best intentions. In the past, certain stock market price gains on the first days of trading were often something of a noble obligation.
And this year? The Dax, which had been circling around the 17,000 point mark not long ago, was preparing to start the weekend at not much more than 16,450 points on Friday afternoon. That would be a loss in the first week of trading of around 1.7 percent.
Even investors’ speculation on interest rate cuts by central banks, which are otherwise always a safe bet for price gains, obviously could not be relied upon in this first week of the stock market.
Zalando among the losers
Zalando shares were among the stocks that had a particularly bad first trading days of the new year. For a long time, the online mail order company advertised itself with the slogan “Scream with happiness”.
With a share price of 18.87 euros, Zalando shares approached the historic low, which was set at just over 17 euros shortly after the IPO in autumn 2014.
Zalando shareholders who had hoped for a good year in 2024 after an extremely weak 2022 and a disappointing 2023 may have held back a little from shouting for happiness at the end of the first stock market week of the new year.
Christian Siedenbiedel Published/Updated: Recommendations: 90 Daniel Mohr Published/Updated: , Recommendations: 9 A comment from Hanno Mußler Published/Updated: Recommendations: 5
#week #grim #omen