Deutsche Börse

Deutsche Börse secures a fully diluted 1.5% stake in Payward, the parent company of crypto exchange Kraken, for $200 million, strengthening its position in the market for tokenized assets. Operationally the group beat expectations in Q2 and profit estimates have recently been raised by about 15%, while the stock trades near its 52-week high. Analyst targets leave only limited upside (average target €290.25), but the InvestingPro fair value and the upcoming capital markets day offer further share-price potential. Macro risks from rising sovereign bond yields could weigh on valuations, while higher volatility could in turn support trading volumes. » More on de.investing.com

Because of the new site-promotion law, many companies are moving into the Scale segment, which has risen by around 12% since the start of the year and at times reached a four-year high. Scale is attracting ambitious new issuers such as Gabler, SMAG and Pfisterer, while some stocks show high volatility. Winners include Deutsche Rohstoff, 2G Energy and Cantourage, while certain defense stocks and market newcomers are under pressure. » More on finanzen.net

The reform creates the Altersvorsorgedepot (AV-Depot) in 2027 as the successor to the Riester pension and removes the mandatory contribution guarantee, allowing higher equity allocations and significantly better return prospects. Government allowances will be substantially increased for contributions up to €1,800, the self-employed will become eligible for support, and a standard product with a maximum 1 percent effective cost is mandated. Risks remain from more expensive active products, in-house funds, and possible repayment of allowances on contract termination; however, for most savers the switch to the AV-Depot should be advantageous. » More on finanzen.net