Supported by strong gains on the US stock markets, the Dax again cleared the hurdle of 15,800 points on Friday morning. But then the plus crumbled off a bit again. The leading German index increased by 0.32 percent to 15,779.74 points at lunchtime. The MDax of medium-sized stocks rose by 0.83 percent to 27,790.36 points.
It is now the fifth trading day in a row with profits for the Dax. For the shortened trading week after Easter, its plus is currently 1.2 percent. On Wednesday, the leading index climbed above 15,800 points for the first time since the beginning of last year, but then fell back somewhat.
Covestro shares were among the favorites in the Dax with an increase of 0.9 percent. The plastics manufacturer had surprisingly announced key data for the first quarter of the year the previous evening. In a difficult industry environment, Covestro had to accept significant business losses, but the operating result collapsed far less than feared.
With a plus of 2.9 percent, Vonovia’s shares were at the top of the leading index, and real estate stocks were also among the favorites in the MDax and SDax. Aroundtown gained 5.3 percent and LEG was up 2.5 percent and TAG Immobilien was up 4.0 percent. The index of smaller values for Grand City Properties also went up 4.0 percent. However, all of these stocks have been among the worst-performing since the beginning of the year, as the rise in interest rates hit the bank.
Hensoldt reached a record high of EUR 36.44 in the MDax. Traders referred to a prominent presentation of the share in the ARD program “Wirtschaft vor Acht” the previous evening. Shares like Hensoldt and Rheinmetall have long been driven by the prospect of participation in armaments projects as defense spending increases. The trigger is Russia’s war of aggression against Ukraine.
