Ahead of the labor market report from the USA, the German stock market continued to rise. Gains on Wall Street and robust economic data from the Eurozone supported prices.
In the common currency area, corporate sentiment improved again in March. Also positive: In Germany, the number of S
The leading index, the Dax, closed 0.19 percent higher at 18,403.13 points, once again approaching its record high of 18,567 points. The MDax of medium-sized stocks rose by 0.78 percent to 27,267.71 points.
Continue to focus on monetary policy
Investors continue to focus on monetary policy. In view of lower inflation rates, the financial markets for the euro zone are expecting the first interest rate cut in June. With a view to the US Federal Reserve Bank, there is speculation that interest rates will be cut in the summer. In the USA, however, some strong economic data has recently been presented, which tends to suggest later interest rate cuts. Against this background, Federal Reserve Chairman Jerome Powell once again reiterated the Fed’s wait-and-see attitude.
In the Dax and also across Europe, car stocks were among the best values, with VW and BMW standing out with an increase of 2.4 and 2.6 percent respectively. The shares of Siemens Energy secured first place in the Dax with a gain of 3.9 percent. This means that the shares of the energy technology company, which were badly hit last year, continued their recovery.
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Delivery Hero shares were clearly at the top of the MDax with an increase of 14.5 percent. According to insiders, an activist investor could cause unrest at the food delivery service in the future. The company Sachem Head Capital Management has secured around 3.6 percent of the Berlin company and is demanding a say on its supervisory board, the Bloomberg news agency reported, citing people familiar with the matter. The fund could try to replace the CEO.
The Eurozone leading index EuroStoxx 50 and the French Cac 40 barely moved in percentage terms, while the British FTSE 100 rose by 0.5 percent. The New York Dow Jones Industrial also rose by 0.5 percent at the close of European trading.
The price of the euro rose. The European Central Bank set the reference rate at 1.0852 (Wednesday: 1.0783) US dollars. The dollar therefore cost 0.9214 (0.9273) euros.
On the bond market, the current yield fell from 2.43 percent the day before to 2.41 percent. The Rex bond index rose by 0.11 percent to 125.18 points. The Bund future recently gained 0.08 percent to 132.71 points.