SHARE FOCUS: CTS Eventim slump to low since March

FRANKFURT (dpa-AFX) – The shares of CTS Eventim fell sharply on Monday in the friendly overall market. After the papers of the provider of tickets and live events were able to briefly overcome the 21-day line, which signals the short-term trend, in the morning, they lost 7.5 percent to 52.15 euros in the afternoon. This not only put them at the bottom of the MDax, they also reached their lowest level since the beginning of March.

Berenberg analyst Gerhard Orgonas referred to weekend news about Spotify. The Stockholm-based audio streaming service has reintroduced its live event locator feed. The in-app function now raises fears that sooner or later Spotify could start selling tickets itself and compete with CTS Eventim, for example. However, Orgonas sees only a limited risk that Spotify could affect the ticket sales of well-known artists, since their tour dates are known early and tickets on the leading websites are sold out in a very short time./ck/men