After a quiet start to trading, the German stock market has picked up speed again. The Dax continued to rise above the 16,000 point mark that it had left behind the day before.
In the early afternoon, the leading index was 16,132 points, an increase of 0.7 percent. Thanks to a significant drop in inflation in the US in June, the Dax had made gains on the fourth day in Golge the day before. The MDax of medium-sized titles rose by 0.6 percent to 28,117 points on Thursday afternoon. The leading Eurozone index, the EuroStoxx 50, was also positive.
Market traders reacted quite calmly to a reduced profit forecast from BASF. After initial losses, the chemical company’s share price turned positive. A higher earnings forecast from Delta Air Lines helped Lufthansa shares gain 1.4 percent.
Thanks to the good business in the sugar segment, the Südzucker Group is confident about the current quarter. After initial price gains, however, the papers turned negative.
The euro continued to rally on the forex market, last trading at $1.1176. The European Central Bank (ECB) set the reference rate at $1.1022 on Wednesday. In the bond market, the current yield fell to 2.55 percent from 2.69 percent on Wednesday. The Rex pension index rose by 0.91 percent to 124.24 points. The Bund future rose by 0.78 percent to 133.00 points.
