DAX faces a quiet start, Volkswagen and Bayer in focus

After the DAX reached a new all-time high last week, an exciting week on the stock exchange is now ahead. However, it is likely to start relatively quietly.Broker IG valued the German leading index five points lower at 18,901 points two and a half hours before the start. At 18,970 points, the DAX had reached another record high in the official week.

The weak August ended with an increase of just over two percent. JPMorgan expert Greg Fuzesi considers the election results in the federal states of Thuringia and Saxony to be “difficult, but not dramatic”. At least they are close to the official polls. The AfD’s election success in Thuringia and second place in Saxony are a bad sign for the federal traffic light coalition. The defeat of the SPD, Greens and FDP is a good sign.

However, this is unlikely to have any direct impact on their federal policy, said Fuzesi. In addition, the AfD is likely to be excluded from forming a government because other parties are refusing to form coalitions.

Bayer is also seeking approval for its kidney drug Kerendia for the treatment of heart failure. The study is based on detailed results from the Finearts-HF study on finerenone (brand name Kerendia), which Bayer presented on Sunday at the ESC cardiology congress in London. The data show a 16 percent reduction in deaths and inpatient admissions or emergency treatments due to heart failure compared to placebo. This represents a statistically significant improvement and also a clinically relevant effect. In due course, the company will apply for approval from the authorities, it is now said.

According to newspaper reports, a new advisory service for Volkswagen employees is set to begin in October. In the so-called Perspective Workshop, employees whose jobs could be eliminated due to knowledge and as a result of digitalization will be accompanied by external consultants, report the “Neue Presse” and the “Hannoversche Allgemeine Zeitung”. The program is reportedly offered at all German locations.

With material from dpa-AFX