The German stock market reacted to the consumer prices from the USA on Wednesday with further rising prices. These did not rise as sharply as expected in June, which led to a general relaxation on the stock exchanges. The Dax climbed 1.2 percent to 15,978 points and just barely missed the 16,000 mark.
“This is the longed-for liberation,” wrote analyst Thomas Altmann from asset manager QC Partners about the inflation data. The MDax for medium-sized titles recently gained 1.9 percent to 27,838 points. The leading eurozone index, the EuroStoxx 50, was also firm.
Zalando took the lead in the Dax with a plus of 13 percent. The reason for the profits were the quarterly figures from the competitor About You. About You shares shot up more than 36 percent. However, they had lost around 80 percent since going public two years ago.
Infineon increased in price by 4.6 percent and Aixtron by 5.4 percent. Analyst Janardan Menon from the US bank Jefferies estimated in a study that the semiconductor industry has a growth potential of one trillion US dollars in the coming years.
Papers from Deutsche Bank, on the other hand, lost almost one percent and were thus at the bottom of the Dax. The investment house Keefe, Bruyette
Shares in dialysis provider FMC gained 4.7 percent, hitting their highest level in a year. Investment bank Goldman Sachs gave the shares a “buy” rating.
On the foreign exchange market, the euro rose to a high since the beginning of May after the US price data, it last cost 1.1066 US dollars. The European Central Bank (ECB) set the reference rate at $1.0989 on Tuesday. On the bond market, the current yield rose to 2.69 percent from 2.67 percent on Tuesday. The Rex pension index fell by 0.01 percent to 123.13 points. The Bund future rose 0.51 percent to 131.67 points.
