Inflation data from the US briefly drove the Dax to its highest level since January 2022 on Wednesday. After a jump to 15,827 points, the leading German index was only up 0.31 percent to 15,703.60 points at the close, which at least continued the positive development of the past two trading days. The MDax of medium-sized stocks ultimately even lost 0.40 percent to 27,340.86 points.
Analyst Konstantin Oldenburger from broker CMC Markets spoke of “some good news for the stock market, since the interest rate hikes by the central banks seem to be having an effect. However, investors are not yet sure how to interpret the data”. The development “should calm the nerves of the Fed a little”, Commerzbank commented on the data with a view to the further monetary policy of the US central bank. She expects two more rate hikes of 0.25 percentage points each. “However, core inflation is still uncomfortably high,” said analyst Ulrich Wortberg from Landesbank Hessen-Thüringen (Helaba).
Enthusiasm about the data also quickly subsided on the European stock exchanges: the leading eurozone index EuroStoxx 50 and the French Cac 40 closed with only minimal gains, while the London FTSE 100 rose by 0.5 percent in the end. On the New York Stock Exchange, the leading index Dow Jones Industrial was slightly up at the end of trading in Europe, while the technology-heavy Nasdaq 100 fell by 0.4 percent.
