The record price on the German stock market continued into the middle of the week. The Dax reached a record for the fifth day in a row on Wednesday and surpassed the 17,600 point mark for the first time. At the close of trading, the leading index rose by 0.25 percent to 17,601.22 points. The MDax of medium-sized stock exchange stocks was unable to follow the Dax and lost 0.30 percent to 25,885.75 points.
“The stock market continues to push investors who are betting on a correction,” noted market analyst Konstantin Oldenburger from broker CMC Markets. “The fact that the daily new all-time highs are accompanied by skepticism about the discrepancy with the real economy does not seem to bother investors, who are now focusing their attention on the 18,000 mark, which is only 2.5 percent away,” commented capital market strategist Jürgen Molnar from Robomarkets.
There was also no clear direction on Europe’s most important stock exchanges on Wednesday. The EuroStoxx 50, the leading index for the Eurozone, closed little changed. London’s FTSE 100 lost 0.8 percent. In contrast, the Paris Cac 40 rose by 0.1 percent. On Wall Street, the Dow Jones Industrial was recently down 0.2 percent.
The top values in the Dax were the shares of the aircraft manufacturer Airbus and the engine manufacturer MTU, which rose by 3.9 and 2.2 percent respectively. As the Bloomberg news agency reported on Tuesday evening, citing insiders, American Airlines is about to order dozens of narrow-body aircraft from Airbus.
Mercedes-Benz also had above-average demand with an increase of 1.7 percent. The US bank Jefferies recommended buying the shares and justified this with a strong balance sheet and plenty of liquidity in the car company.
Disappointing quarterly targets from Dutch chip supplier ASM International weighed on the European chip industry. As the bottom of the DAX, Infineon fell by 4.0 percent. Süss Microtec, another stock from the semiconductor industry, fell by 7.7 percent. Warburg Bank had canceled its buy recommendation here.
As one of the biggest losers in the MDax, Lanxess shares lost 3.9 percent. The chemical company takes depreciation in the three-digit million range. Two business areas and the participation in the joint venture for high-performance plastics Envalior are affected. This also weighed on shares of other chemical companies such as Evonik and Symrise.
On the foreign exchange market, the euro was last traded at $1.0838. The European Central Bank set the reference rate at $1.0808 in the afternoon.
Prices fell on the bond market. The Rex bond index fell by 0.16 percent to 124.82 points. The current yield rose to 2.50 percent from 2.46 percent on Tuesday. The Bund future rose by 0.10 percent to 132.24 points.