The Dax almost made up for its losses from the start of the week on Tuesday. The leading index closed 0.29 percent higher at 14,422.35 points. The MDax increased by 0.28 percent to 25,619.36 points. The consolidation after the week-long recovery rally thus continued.
There were few drivers for the stock market on Tuesday and they may not materialize for the remainder of the week as there is no trading in the US on Thursday due to the Thanksgiving holiday and only shortened trading on Friday. Overall, hopes that the central banks will not raise interest rates as much are driving the markets, while reports of a sharp rise in the number of Covid-19 in China are tending to slow prices down.
TAG Immobilien cancels dividend
TAG Immobilien shocked investors among the individual values: The Hamburg company is canceling the dividend for 2022. A company could not send a worse signal, commented one trader. TAG received the receipt from investors in the form of a price loss of almost twelve percent.
Thyssenkrupp’s shares fell by more than four percent after a share placement by a major shareholder. Chemical stocks were among the favorites in the Dax: Covestro, Brenntag and BASF gained up to four and a half percent.
The euro recovered
The Eurozone leading index EuroStoxx 50 said goodbye 0.53 percent higher at 3929.90 points. France’s Cac 40 gained a little less significantly, while Britain’s FTSE 100 rose more than 1 percent. In New York, the leading US index, the Dow Jones, was up almost 0.8 percent at the close of the European stock market.
The euro recovered from its weak start to the week: the European Central Bank set the reference rate at 1.0274 (Monday: 1.0246) dollars. On the bond market, the current yield fell from 2.01 percent the previous day to 2.00 percent. The Rex pension index increased by 0.05 percent to 127.49 points. The Bund future gained 0.33 percent to 140.50 points.
