A new era begins for Dax on Monday

A new era begins for Dax on Monday: The select group of members of the first German stock exchange league will be expanded to 40 out of 30. The newcomers are facing stormy days with the trembling game around the Chinese real estate developer Evergrande, the final spurt before the federal elections and the interest rate decision of the US Federal Reserve. Sports equipment supplier Puma, biotech company Qiagen and online fashion retailer Zalando will take their place in the leading German index on Monday. Deutsche Börse also tightened the rules for Dax membership. This is to prevent another scandal about a Dax member like the collapse of the payment service provider Wirecard. Even if there is a breath of fresh air in the index with the newcomers, it is probably too early for further records and the jump over the magical mark of 16,000 points, according to the Helaba strategists. The economic risks of the delta variant of the corona virus are not yet off the table, which has been shown above all in the recently disappointing economic data from China. On Friday afternoon, the Dax stepped more or less on the spot at 15,570 points on a weekly basis. Another negative factor for the stock exchanges is the debt crisis at the real estate company China Evergrande. Equity and bond investors fear bankruptcy - there is even talk on the floor of whether Evergrande could become the Chinese Lehman Brothers. Shares have plummeted more than 85 percent since the beginning of the year. On Monday, however, the stock exchanges in China and Japan will remain closed for the time being due to the holiday. Otherwise, the stock exchange week is dominated by the central banks with the highlight in the middle of the week, when the FOMC interest rate committee of the US Federal Reserve meets. In view of the economic recovery in the USA, the exit from crisis mode is imminent. Investors are wondering when exactly Fed Chairman Jerome Powell will give the signal to cut back the billion-dollar purchases of government bonds and mortgage securities. Powell will surely reiterate that he wants to start "later this year," said Tiffany Wilding, portfolio manager and economist for the American economy with asset manager Pimco. "We have long assumed that the FOMC will announce its decision to scale back bond purchases at the December meeting, but we now believe it is possible that this could happen as early as November." "After the long debate, a tapering decision on the financial markets should come as no surprise either way and the price fluctuations are therefore limited, "says Helaba. negative exchange rate reactions at a later point in time would be quite conceivable. The Bank of Japan will also decide on interest rates on Wednesday, while the central bankers in Turkey and Britain will meet on Thursday.