The Dax put the weak start to the week behind it with a recovery rally on Tuesday. Despite the ongoing fighting between Israel and the Palestinian terrorist organization Hamas, the leading German index closed 1.95 percent higher at 15,423.52 points. The MDax of medium-sized companies rose by 2.24 percent to 25,795.41 points.
According to stockbrokers, the market was helped by moderate tones from US central bankers, who gave hope for another interest rate break in the United States. Against this background, even the recently rising US bond yields, which tend to point to higher interest rate expectations, have not been able to dampen the buying mood of market participants in this country. According to Michael Hewson from CMC Markets UK, speculation about a possible new economic stimulus package in China also supported the trend. Prices on Wall Street, which had already been friendly the day before, also continued to rise recently.
On the corporate side, the situation on the German stock market was rather clear; price-moving news tended to come from the back rows. Two orders from the aviation industry with a total volume of 100 million euros gave the technology group Kontron’s shares an increase of 6.5 percent in the top SDax positions.
Also in the shares of the radiation and medical technology group Eckert
Otherwise, analyst studies were moving. The Zalando shares extended their recent recovery at the top of the Dax and closed 4.6 percent higher. In the Dax, Bayer shares were also able to stabilize somewhat at plus three percent after the recent price losses and the lowest level since November 2020. The bank HSBC had upgraded the shares of the agricultural chemical and pharmaceutical company from “Reduce” to “Hold”.
Things were also clearly improving on the European stage. The EuroStoxx 50, the leading index for the euro zone, advanced by 2.25 percent to 4205.23 points. France’s Cac 40 rose 2.01 percent to 7,162.43 points, while Britain’s FTSE 100 rose 1.82 percent to 7,628.21 points. In New York, the Dow Jones Industrial rose by 0.7 percent at the close of trading in Europe.
The current yield on the German bond market remained at 2.82 percent. The Rex bond index rose by 0.23 percent to 123.52 points. The Bund future lost 0.14 percent to 129.27 points.
The euro rose again above the $1.06 mark in evening trading and last cost $1.0613. The European Central Bank had previously set the reference rate at 1.0582 (Monday: 1.0531) US dollars. The dollar therefore cost 0.9450 (0.9495) euros.
