The Dax has continued its recovery from the day before. Encouraging inflation data from the USA proved to be helpful. Although the leading German index was unable to stay above the 16,000 point mark, it managed to gain 0.91 percent to 15,996.52 points. The MDax for medium-sized companies went up 1.10 percent to 28,334.22 points.
Although inflation in the world’s largest economy rose somewhat in July, it remained a little below economists’ expectations. Inflation is a key signal for the US Federal Reserve in the current cycle of interest rate hikes to combat inflation. Hopes of an interest rate pause by the Fed in September could now be fueled again.
The focus was also on the reporting season with seven companies from the Dax alone. Here Siemens was the biggest disappointment. The technology group missed the expectations of analysts in the past quarter. The Digital Industries division in particular disappointed market participants. The price of the shares, which are heavily weighted in the Dax, slipped by almost five percent.
