Decency and stock exchanges are two different things.

If you didn't know that yet, you could see it again this week.

The Queen dies and what are the stockbrokers doing in the City of London?

Keep trading stocks as if nothing happened.

At least they could have shown a reasonable discount.

A black Friday would have been a sign.

But what does the FTSE 100 stock index do?

Lies cheerfully in the plus.

More than 1.5 percent even.

A thoroughly cheerful trading day.

Only a handful of the 100 most valuable companies on the London Stock Exchange maintained their proper decency and declined in market value.

The provider of "privacy products" Avast, for example, who wants to ensure digital security on the Internet.

On the other hand, the fashion retailer Asos showed a clear price increase.

Daniel Mohr

Editor in Business.

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But what the protocol for the death of the queen provides: no stock exchange trading on the day of the funeral and also none on the day of the coronation of the new king.

That was no longer clear to many, after all, the last death of a British throne holder was 70 years ago.

Business associations had little choice but to calculate what the fun would cost: it was six billion pounds in sales due to idle factories and supermarket checkouts at the wedding of Prince William, the heir to the throne.

If two public holidays are announced at the same time, it almost borders on a deliberate plunge into recession.

But we already had that with decency.

The Börsianer was missing earlier in the week.

On Thursday, ECB President Christine Lagarde wrested a historically large interest rate hike from her central bank council and what are the stock markets doing?

Nothing.

Complete ignorance.

It was only when Lagarde later pointed to an economically difficult winter that the stock exchanges twitched briefly before remembering that they had already priced this in anyway.

The Dax change was 0.09 percent at the end of the second and so far largest interest rate turnaround day in 2022. But maybe there is more to come, because the inflation drivers heating oil, diesel and gas have so far hardly been impressed by the diligent efforts of the central banks and remain expensive .

Dax relegated with profits

The importance of Deutsche Börse was also trimmed down a bit this week.

On Monday evening she announced the Dax kick-out of the cooking box supplier Hello Fresh and what are the brokers doing?

Buy the stock like mad.

Isn't the Dax sacred to them anymore?

The biggest winner in the index, of all things, was the declared relegation team – in a neck-and-neck race with the over-profit tax candidate RWE.

The curved control club does not seem to impress stockbrokers either.

By the way, the biggest winner this week in the FAZ Index was Delivery Hero.

Yes, exactly the ones that flew out of the Dax in June - at prices of 36 euros.

Didn't hurt the course.

Now they stand at 48 euros.

And would have climbed back into the Dax if the stock exchange hadn't considered in the meantime that it no longer wants to include companies with no operating profit in the index.

New for Siemens Energy.

They're the ones with the gas turbines that have to go to Canada for servicing.

They have been making losses for three quarters and were dropped from the Dax in March due to miserable price development.

But who cares, they'll be back on September 19th.

Nobody knows exactly why.

The price has fallen another third since March.

By how many thirds the Solarworld share has fallen can be said quite precisely: almost three.

A share of the former Dax candidate is currently available for 35 cents.

Frank Asbeck and his board colleagues are currently facing charges of delaying insolvency before the Bonn Regional Court.

The store was said to have gone bankrupt in 2016 and not just in 2017. Why is the stock still trading?

The stockbrokers need something to play with.

For example the new Porsche share.

The VW and Porsche CEO Oliver Blume could then become the head of two DAX companies.

If the free float in the preference shares is sufficiently high.

But the construction is something for specialists anyway.

The stockbrokers can brood over it if they are forced to take no action at the Queen's funeral.

Or intoning God save the yield.

The stock market year is not lost yet.

It is well known that hope dies last.

Even after the queen.