Stock market year – Development of the markets
MLP share • MDAX and DAXsector Financial Services for 2009
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Following a weak start to the stock market year 2009, largely due to the financial and economic crisis, the stock markets were able to record significant gains from the second quarter onwards. This trend continued over the course of the year with just a few setbacks along the way. A range of economic indicators signalled the end of the global recession and the first signs of global economic recovery, which the markets had already factored in.
America’s leading index, the Dow Jones Industrial Average, increased from 8,776 points at the start of the year to 10,428 points at the end of December, a gain of 18.8 %. Germany’s leading index, the DAX, reached its annual peak in December at 6,016 points and closed the year on 5,957 points, a plus of 19.8 % in comparison with the end of 2008. The MDAX, in which the MLP share is listed, recorded above-average positive development with growth of 34.0 %. Over the course of the year, the index increased from 5,602 to 7,507 points at the end of the year. Following the severe crash in 2008 with a drop of almost 60 %, the sector index for the German financial sector once again saw positive development in the last financial year. Starting at 582.1 points at the start of the year, the DAXsector Financial Services rose consistently in the second half of the year, reaching its annual peak of 741.8 points in October 2009. It then closed at 686.1 points at the end of the stock market year.
Key figures for business valuation and balance sheet analysis
| 2009 | 2008 | ||
|---|---|---|---|
| Equity ratio | in % | 28.4 | 27.8 |
| Return on equity | in % | 5.8 | 5.8 |
| Net liquidity | in € million | 210.0 | 210.1 |
| Market capitalisation | in € million as at Dec, 31 | 869.49 | 1,057.04 |
| Enterprise Value (EV) | in € million | 659.49 | 846.9 |
| EV / total income | 1.2 | 1.4 | |
| EV / EBIT | 15.6 | 15.1 | |
| Total revenue from continuing operations | in € million | 532.1 | 595.2 |
| EBIT from continuing operations | in € million | 42.2 | 56.2 |