The renewed optimism among investors is driving the German stock market. The leading index Dax accelerated its recovery and rose by 0.96 percent to 15,475.42 points by midday after making up for its initial losses on Thursday and closing in positive territory.
“The Dax has gotten the curve again,” wrote market analyst Jochen Stanzl from the trading house CMC Markets. The expert spoke of an important vote of confidence in the strength of the market. The MDax for medium-sized stocks gained 1.43 percent to 28,854.18 points. The Eurozone leading index EuroStoxx 50 went up 0.91 percent.
Impulses came from overseas. The Asian stock exchanges had recorded price gains. Deutsche Bank’s market strategists attributed the good sentiment there to the Caixin Purchasing Managers’ Index for the Chinese service industry. The index was better than expected in February.
Good news for stockbrokers also came from the USA. According to central banker Raphael Bostic, the US central bank could take a break from raising interest rates in the summer. The Fed has been trying to get inflation under control by raising interest rates for months.
In the Dax, Covestro shares made up for part of their previous day’s losses and rose by 3.5 percent. A vague forecast and the waiver of a dividend had weighed heavily on the papers of the plastics group.
Lufthansa shares rose in the MDax and at the end of the week were listed above 10 euros for the first time since 2020. Most recently, an increase of a good five percent was recorded. After two years of losses in the Corona crisis, the airline again made billions in day-to-day business in 2022. This year, CEO Carsten Spohr wants to significantly increase adjusted operating profit.
