On Tuesday, the German stock market recovered a large part of its heavy losses from the previous day. Support came from encouraging US inflation data. The Dax closed 1.83 percent higher at 15,232.83 points. On Monday he had posted a loss of 3.04 percent.
The MDax of medium-sized stocks rose by 2.01 percent to 27,779.76 points after a minus of 2.74 percent on Monday. Across Europe, most of the major stock indices recovered noticeably, and stock markets in the USA also started to make a significant leap upwards. As was announced on Tuesday, the high US inflation continues to weaken. In February, consumer prices rose by 6.0 percent compared to the same month last year.
Hopes for a more moderate monetary policy from the Fed gave a tailwind to shares in some US regional banks in particular, which were subsequently able to recover from their recent price slumps. The share prices of Commerzbank and Deutsche Bank, which have recently come under pressure, also rose by more than 4 percent.
Fraport shares were among the losers
Investors are likely to remain nervous ahead of interest rate decisions by the Fed on March 22 and the European Central Bank (ECB) this Thursday. According to detailed figures for the past year, Volkswagen shares lost 1.6 percent as the Dax tail light.
Fraport’s shares fell by 0.6 percent in the MDax, making them one of the few losers. After the sharp increase in passenger traffic last year, the Frankfurt airport operator expects a further recovery from the Corona crisis in 2023. However, the shareholders should not receive any dividends for 2022 and 2023 either because of the continuing high level of debt as a result of the Corona crisis.
The shares of K S, on the other hand, took the lead in the MDax and closed 5.4 percent higher. The fertilizer company is raising the dividend significantly after a jump in profits last year and wants to start buying back shares after the annual general meeting in May.
The EuroStoxx 50, the leading index in the euro zone, closed 2.02 percent higher at 4179.47 points. France’s Cac 40 was up 1.9 percent, while Britain’s FTSE 100 was up 1.2 percent. The New York Dow Jones Industrial rose around 1 percent at the end of European trading, and the technology-heavy Nasdaq 100 index was even up more than 2 percent.
The euro rate was recently slightly lower at 1.0718 US dollars. The European Central Bank set the reference rate at 1.0737 (Monday: 1.0706) dollars. The dollar thus cost 0.9314 (0.9341) euros.
On the bond market, the current yield rose from 2.32 percent on the previous day to 2.38 percent. The Rex pension index fell by 0.01 percent to 126.34 points. The Bund future lost 1.23 percent to 134.48 points after the strong gains of the previous day.
