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Frankfurt / Main (dpa) - On the day of the change of power in the United States, the Dax started in positive territory.

After half an hour of trading, the leading German index increased its gains moderately to 0.41 percent to 13,871.26 points.

The MDax developed even better with an increase of 0.72 percent to 31,516.93 points.

For the leading Eurozone index EuroStoxx 50 it was a good half a percent high.

Investors positioned themselves cautiously optimistic about the inauguration of the Democrat Joe Biden in the USA.

He was to be sworn in as the 46th President of the USA shortly after the close of trading in Europe.

After the storm on the Capitol two weeks ago, the ceremony is under strong security.

In Germany, the extension of the lockdown decided the day before was already expected.

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On the company side, BASF provided a lot of talking point with strong key data.

The chemical giant did better than expected in the final quarter and so the shares belonged to the top third of the Dax with an increase of one percent.

Otherwise, the chip industry remained an important topic.

An optimistic growth forecast by the industry supplier ASML drove Infineon's shares up 1.6 percent.

Aixtron and Dialog Semiconductor stocks were also supported.

The key figures from Ceconomy were neither positive nor negative as a price driver, even if the electronics retailer, plagued by the lockdown, fears for the set annual target.

A narrow minus in papers shows that investors have got used to the clouded outlook during the virus crisis.

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The shareholders of Borussia Dortmund had to take a bigger minus of 3.5 percent in the SDax.

Due to a defeat in the top duel with Bayer Leverkusen, the Revier-Kicker continue to lose touch with the leading trio in the Bundesliga.

There is even a risk of losing one of the four lucrative Champions League places.

At the top of the SDax, investors in the Global Fashion Group rode their record wave, the shares of the online retailer shot up 7.3 percent.

At their peak they were traded just over 13 euros.

The US bank Goldman Sachs brought new price fantasy with an optimistic initial assessment of the papers, for which analyst Richard Edwards sees potential of up to 16 euros.

© dpa-infocom, dpa: 210120-99-96592 / 3