The recently weakened Dax rose again slightly on Thursday. Regardless of the risks from the new US inflation figures due in the afternoon, the leading German index turned positive after initial losses and gained 0.83 percent to 12,273.26 points around noon. The Dax also remained well above 12,000 points.
The MDax of medium-sized German companies posted an increase of 0.25 percent to 21,948.65 points, while the leading euro zone index EuroStoxx 50 rose by 0.3 percent.
Capital market strategist Jürgen Molnar from RoboMarkets spoke of a “razor blade ride”. Producer prices from the USA had already slowed down the Dax on Wednesday. Molnar also believes another interest rate hike of 0.75 percentage points is certain in the USA.
Analyst Jochen Stanzl from broker CMC Markets was a little more confident about the short-term prospects for the Dax. US consumer prices “have the potential to break the Dax’s resilience of the past few days and take the index to new lows for the year”. However, if inflation is lower than expected, the index could stage a recovery rally.
Südzucker’s figures were the focus of attention on the German market on Thursday. However, a surprisingly significant jump in profits in the first half of the financial year and a renewed increase in sales prospects only convinced investors for a short time: After a friendly start, the shares of the sugar producer turned negative and lost almost two and a half percent to 12.33 euros.
Shares from the chip sector were also under pressure after negative industry news: the shares of the Dax group Infineon lost 0.6 percent, and the shares of the industry equipment supplier Aixtron went down by almost two percent.