On the German stock market, prices continued to stabilize on Tuesday morning. The German leading index Dax increased in early trading by a good one percent to 12,934.42 points and thus continued the moderate gains at the start of the week. The indications from late trading on Wall Street the previous day and from the Asian stock exchanges supported the market.
The focus of interest remains the foreseeable renewed interest rate hike by the US Federal Reserve on Wednesday. “Ahead of tomorrow’s Fed meeting, the prevailing hope is that the stock market will be able to cope well with another jumbo rate hike of 75 or even 100 basis points,” wrote analyst Jochen Stanzl of CMC Markets. On the stock exchanges “a certain speculation on an onset of habituation effect” can be observed.
The MDax rose in the morning by 0.72 percent to 24,143.06 points. The leading eurozone index, the EuroStoxx 50, was up a good one percent.
Henkel’s individual stocks in the Dax rose by 1.8 percent. Thanks to good business in the adhesives segment, the consumer goods group has again increased its sales forecast for the current year.
The shares of the car manufacturers increased at an above-average rate. The surcharges ranged from 1.3 percent for BMW to 4.6 percent for Porsche Holding. Volkswagen prices increased by 2.3 percent. Here, the upcoming IPO of Porsche AG once again sparked the imagination. The subscription period for the shares, which are being offered to investors in a range of EUR 76.50 to EUR 82.50, begins this Tuesday.
In addition, analyst comments moved the prices. Fraport shares rose 3.6 percent after Barclays Bank upgraded them by two notches from underweight to overweight. Jungheinrich gained 6.3 percent at the top of the MDax, driven by a recommendation from the investment house Oddo-BHF.
