After an unusually strong month on the stock markets in October, the German stock market also started November with price gains. The recovery of the Asian stock exchanges caused the Dax to rise by 1.03 percent to 13,390.91 points towards the end of the first hour of trading on Tuesday. The leading index has now reached a new high of over 13,400 points since mid-September.
In China and the Hong Kong Special Administrative Region in particular, speculation about a departure from the Chinese regime’s zero-Covid policy triggered rising share prices, which the markets in Germany followed with reservations. The MDax even gained 1.98 percent to 24,147.77 points, while the leading euro zone index, the EuroStoxx 50, gained 1.4 percent.
Last month, the Dax had one of the best October balance sheets in history with a gain of 9.4 percent.
Among other things, the fact that the increase in import prices in September weakened somewhat more than experts had thought was helpful. The prices for goods imported into Germany still increased very significantly by 29.8 percent, but analysts had assumed a higher annual rate of 31 percent after 32.7 percent in the previous month. The costs for imported electricity in particular contributed to the somewhat weaker price dynamics.
The recovery in Asian tech stocks already had a positive effect on German Internet stocks in pre-market trading, which have recently been avoided quite strongly. In the Dax, the Zalando titles were in very high demand, up 6.1 percent, after internet industry giants such as Tencent and Alibaba led the rally in Hong Kong. In the MDax, the shares of Delivery Hero and Hellofresh also rose very significantly by 9.7 and 6.8 percent.
At the end of the Dax were the FMC shares, which revised large parts of their brief recovery from the previous day. A sell recommendation from Warburg Research pushed the shares of the dialysis group 4.2 percent lower. The shares of the parent company Fresenius fell 1.3 percent.
A relatively clear winner was also the papers of the car rental company Sixt with an increase of two percent. Avis Budget’s record profits in the third quarter were cited as the driver here. The competitor had reported a record net profit in the US the night before, as well as a record operating profit.