Solid US stock exchanges gave the Dax a conciliatory end of the day. The leading index was able to compensate for a setback of up to 0.6 percent, but investors’ risk tolerance remained subdued ahead of the US labor market data expected on Friday. In the end, 15,633.21 points meant an increase of 0.01 percent. The MDax, on the other hand, fell by 1.29 percent to 28,440.86 points.
It appears investors are taking a cautious stance ahead of Friday’s jobs report, said market watcher Craig Erlam of broker Oanda. After all, the New York stock exchanges provided the Dax with the necessary tailwind to make up for the temporary losses. Initial jobless claims in the US had risen surprisingly sharply. This fueled hopes that the US Federal Reserve could be more cautious in its fight against high inflation by raising interest rates.
Adidas advanced to become the leader in the Dax. The recent spirit of optimism continued here: In the afternoon, the papers picked up and reached their highest level in a month. They continued their good run with an increase of three percent. The wind turbine manufacturer Nordex also gained momentum in the afternoon: Despite the subdued profitability in 2022, the shares managed a plus of 6.1 percent.
Deutsche Post reported a record year, convincing with the dividend proposal and its share buyback program. Although a slowdown in business dynamics is expected for 2023, one retailer praised the now significantly better view of future business development. The share gained 1.6 percent.
Hannover Re also wants to pay out more money to shareholders after a record profit last year, but the price fell by 3.4 percent. There were comments that the total dividend of six euros per share did not quite come close to the consensus estimate. BMW weakened after key data with a discount of 1.4 percent. The figures presented for 2022 were characterized by a disappointing margin.
Things looked much worse in the entire real estate sector, which was mainly due to LEG. The titles dropped by 11.4 percent at the bottom of the MDax. The company caught investors off guard with a dividend suspension. Observers fear that other real estate groups could follow this example.
In the SDax, SMA Solar jumped in price by almost ten percent. The solar technology manufacturer is aiming for significant growth in sales and operating earnings in the current year thanks to the meanwhile significantly improved delivery situation.
Analyst praise from the US bank JPMorgan boosted Gerresheimer’s shares by five percent. According to analyst David Adlington, the specialty packaging maker faces a “significant opportunity” by manufacturing insulin pens for so-called GLP-1-based treatments.
The EuroStoxx 50 ended the day in the red with 4286.12 points. In Paris, the Cac 40 also ended slightly weaker, while London’s FTSE 100 fell a little more significantly by 0.6 percent. In New York, the Dow Jones Industrial recently gave up its gains, while the Nasdaq was still up.
The euro was last traded at $1.0573. The European Central Bank had set the reference rate at 1.0554 (Wednesday: 1.0545) dollars. The dollar had thus cost 0.9475 euros.
The current yield on the bond market remained at 2.77 percent. The Rex pension index rose by 0.17 percent to 123.20 points. The Bund future rose by 0.25 percent to 132.41 points.
