Confirmed signals for a more moderate interest rate policy by the US Federal Reserve have caused prices on the German stock market to rise.
There were also further hopes that China could gradually relax its strict corona policy. That would boost demand for many commodities. However, the German retail sales in October caused a certain setback, which unexpectedly fell sharply.
The gains in the Dax, which were still significant at the start of trading, crumbled quickly. At lunchtime there was an increase of 0.34 percent to 14,446.59 points. The MDax of medium-sized stocks rose by 1.10 percent on Thursday to 25,873.53 points. The EuroStoxx 50, the leading index in the euro zone, gained 0.31 percent.
US Federal Reserve President Jerome Powell underpinned the prospect of smaller interest rate hikes on Wednesday, triggering a price rally on Wall Street. However, a smaller interest rate step of 0.5 percentage points has already been factored in on the stock exchanges for December, after there have been several interest rate hikes of 0.75 percentage points so far.
Among the individual stocks in the Dax, Deutsche Telekom shares rose by 0.8 percent. Analyst Akhil Dattani from JPMorgan sees some potential price drivers for the T-Share in 2023 and therefore put it on the “Analyst Focus List”. He retained his positive “Overweight” rating, but raised the target price slightly.
In the MDax, the shares of the construction software manufacturer Nemetschek jumped by 4.4 percent. According to a conversation with the financial news agency dpa-AFX, the CEO expects “continued sales growth and an operating result at a high level” in the coming year.
The focus also shifted to the shares of Shop Apotheke, which rose by 11.6 percent at the top of the SDax. In Switzerland, the shares of Zur Rose, to which the DocMorris brand belongs, increased significantly. The two mail-order pharmacies benefited from the fact that Federal Health Minister Karl Lauterbach had emphasized the day before that the e-prescription would come in the middle of next year. In the future, the basis of the infrastructure should be based on clouds and smartphones.
