Investors bought in again on Wednesday after significant losses the previous day. The Dax immediately took a step back towards 17,000 points and the record level slightly above. The leading German index, which had hovered around its previous day’s closing level in early business, closed 0.38 percent higher at 16,945.48 points. The MDax rose by 1.27 percent to 26,050.07 points.
“Larger price setbacks continue to be bought and stabilize the Dax in the price range between 16,800 and 16,900 points,” commented market observer Andreas Lipkow on the current development. The Tuesday losses may have just been a consolidation after recent price gains.
The day before, surprisingly high consumer prices in the USA had not been to the taste of investors on both sides of the Atlantic because this pushed hopes of interest rate cuts by the US Federal Reserve even further into the future.
Among the small caps in the MDax, Delivery Hero initiated a particularly strong recovery rally. The food supplier had presented final annual figures with new details that brought relief with regard to the liquidity concerns that had recently arisen. The losses since the beginning of February were made up again as stocks increased their gain to almost 20 percent.
Thyssenkrupp, on the other hand, lost more than ten percent as the bottom of the MDax. According to DZ Bank analyst Dirk Schlamp, the industrial group’s start to the new financial year with renewed depreciation and revised forecasts was not convincing.
In the SDax, the media group ProSiebenSat.1 was pleased with a surprisingly significant increase in profits in the fourth quarter, which drove the stock up by more than eleven percent. The shares of the industrial service provider Bilfinger rose in second place by more than nine percent. The forecast for operational profitability was particularly well received here.
In a strong environment for armaments stocks, Rheinmetall continued its record hunt in the Dax with its first increase above the 370 euro mark. However, the first profit-taking occurred there and the shares ended trading 0.16 percent lower. The industry continues to benefit from expectations of rising defense spending. Hensoldt gained four percent and newcomer Renk even gained almost 12 percent.
At the European level, the Eurozone price barometer EuroStoxx rose by 0.43 percent to 4,709.22 points. The stock markets also rose in Paris and London. In New York, the indices have recently been slightly positive, especially the technology-heavy Nasdaq 100 with an increase of half a percent.
After significant losses the previous day, the euro was trading at $1.0728. The European Central Bank set the reference rate at 1.0713 (Tuesday: 1.0793) dollars. The dollar therefore cost 0.9334 (0.9265) euros.
On the bond market, the current yield rose from 2.38 percent the day before to 2.39 percent. The Rex bond index fell by 0.08 percent to 125.39 points. The Bund future rose by 0.54 percent to 133.67 points.
