After the slide on the German stock market at the beginning of the week, stabilization took place on Tuesday. At lunchtime, the Dax increased by 0.49 percent to 15,032.06 points. Concerns about a possible banking crisis that arose after the collapse of the US regional bank SVB and other institutions eased somewhat. “The market is now pricing in a slower pace of rate hikes,” commented Robomarkets capital markets expert Jürgen Molnar.
The MDax rose by 0.55 percent to 27,382.06 points, and most of the major indices also recovered somewhat throughout Europe. The US stock exchanges are leading the way: the slight recovery that began the day before after several very weak trading days is likely to continue for the time being.
Despite everything, nervousness is greater than it has been for a long time, wrote portfolio manager Thomas Altmann from QC Partners. At the moment no one knows whether the incident in the USA is limited to a few institutes or whether it is the beginning of a new crisis. The upcoming meetings of the European Central Bank and the Fed are likely to be even more explosive.
In the Dax, the shares of Commerzbank and Deutsche Bank are still in focus after they had fallen sharply the day before. Both papers have recently been stable.
According to detailed figures for the past year, VW’s share certificate lost 2.5 percent as the Dax tail light. Jefferies analyst Philipe Houchois spoke of a weak final quarter and above all criticized the margins of the carmaker.
In the MDax, the Fraport paper found itself in last place with minus 2.7 percent. 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.
