FRANKFURT (dpa-AFX) - An upgraded forecast has given fresh momentum to the upward trend in Flatexdegiro shares that began just under a week ago. On Monday, shares of the online broker climbed 4.1 percent to €26.60, ranking among the top performers in the MDax. By contrast, the index of mid-cap stocks edged slightly lower.
At their peak, Flatexdegiro shares jumped nearly six percent. Currently, the stock is trading at levels last seen in July 2021.
Following a record half-year, Flatex raised its forecasts for 2025. Already in the first quarter, the volatility in capital markets caused by US tariff threats had fueled strong business. Flatexdegiro continued to gain ground in the second quarter.
Last Wednesday, Deutsche Bank Research analyst Mengxian Sun had suggested the possibility of an upward revision to the company's business targets. The expert pointed to the expected profitability in the first half of the year.
Additionally, Flatexdegiro's technical chart has recently improved significantly. Thanks to the latest price rally, the shares are now clearly trading above both the 21-day and 50-day moving averages, which are considered indicators of the short- and medium-term trends, respectively.
