The Dax made up for a small part of its previous day’s losses on Tuesday. The strong recovery on the stock exchanges in China and Hong Kong had a supportive effect. However, the hope that the Chinese government could relax its zero-Covid policy does not seem to be fulfilled for the time being.
In early trading, the leading German index rose by 0.31 percent to 14,428.20 points. The MDax of the medium-sized stocks was hardly changed at plus 0.05 percent to 25,600.14 points. The EuroStoxx 50, the leading index in the euro zone, gained 0.37 percent to 3950.07 points.
At the start of the week, the Dax closed weakly, but ultimately it has been moving sideways in a narrow trading range for around two weeks. At its highest level since June, the stock market barometer is struggling to follow the 20 percent rally since the end of September with further gains.
As has recently become known from China, the vaccination campaign for older people is to be promoted. Nevertheless, the Health Commission did not intend to abandon the strict measures against Covid. She only called for previously announced adjustments to be implemented “quickly and thoroughly”. However, “the wrong practice of additional measures” should be avoided, it said.
In this country, consumer price data are first on the agenda. They are eagerly awaited in the early afternoon as they could provide further signals for monetary policy going forward.
Among the individual stocks on the German stock market, Zalando and Adidas, the top stocks in the Dax, rose by a little more than 3 percent. Puma rose by 1.0 percent and Hugo Boss gained 1.2 percent in the MDax. The good mood from the USA could provide support. The retailers there did very good business on so-called “Cyber Monday”, said a dealer. According to preliminary estimates, there may have been record sales.
Aixtron gained 2.0 percent. The Dutch manufacturer of production systems for the semiconductor industry ASM International had raised its sales forecast for the fourth quarter and exceeded analysts’ estimates.
In contrast, commercial real estate specialist Aroundtown failed to wow investors with its nine-month figures and confirmed annual targets. The share lost 1.9 percent in the MDax.
Uniper gave back part of their strong gains the previous day. After a 14.5 percent jump in price, the paper now lost 7.6 percent. The major Swiss bank UBS had capped its price target and reiterated its sell recommendation. Analyst Sam Arie calculates the next capital increase at 20 billion euros. He explains the recent course capers primarily with the closure of large short positions.
The shares of the laboratory company Synlab rose by more than two percent after a recommendation from the investment house Stifel.
