After the recent series of losses, the German stock market recovered somewhat on Tuesday morning. In the first hour of trading, the leading index Dax increased by 1.32 percent to a level of 12,389.56 points. The MDax also advanced: the stock market barometer for medium-sized stocks rose by 1.49 percent to 22,785.69 points.
Stockbrokers rated the price increase as a sign of stabilization after the Dax had recently marked a two-year low, but did not want to overestimate this. It was “clearly too early” to give the all-clear, said Thomas Altmann from asset manager QC Partners. The market participants are “extremely nervous”.
Shares in biofuel producer Verbio gained more than ten percent after announcing record results for the past fiscal year. Dealers praised the figures. According to the final figures and in view of the prospect of an increase in profitability, shares in KWS Saat rose by two percent.
On the last Dax place, the shares of the sporting goods manufacturer Adidas slipped by almost one percent. The decisive factor was a canceled buy recommendation by Goldman Sachs. In his study, analyst Richard Edwards referred to the “challenging demand environment and the headwind from exchange rates”. Hugo Boss in the MDax also lost around one percent after a positive vote was withdrawn by Deutsche Bank.
In line with the strong trend in Europe, technology and consumer goods stocks that are sensitive to the economy and interest rates were generally in demand again in the morning. Zalando and Infineon continued the price recovery from the previous day with a premium of more than four percent. The papers of the recipe box mail-order company Hellofresh and the chip industry equipment supplier Aixtron were both strengthened by more than three percent in the top ranks of the MDax.
Car stocks were also at the forefront, with gains of up to three percent for Mercedes-Benz. VW preferences and the shares of the holding Porsche SE each rose by more than one and a half percent. The papers are also in view because of the upcoming IPO of the sports car manufacturer Porsche AG.
