Economic data from China and the European Central Bank’s fight against inflation created a good mood among investors on the German stock market on Friday. The Dax surpassed the 13,000 point mark one day after the ECB raised interest rates significantly. The leading German index extended its gains by midday and jumped to a high of 13.20 points since the end of August. Most recently, it was slightly lower again with a plus of 1.35 percent to 13,078.65 points.
As a result, the MDax for medium-sized stocks advanced even more than the Dax, with a plus of 1.82 percent to 25,582.55 points. There was also strong growth on the European stage, with the Eurozone leading index EuroStoxx 50 recently standing almost 1.7 percent higher.
On the company side, there were no losers in the Dax at noon. Shares in the hospital and healthcare group Fresenius ended up at the top of the index with an increase of almost 3.7 percent.
As on the previous day, Deutsche Bank benefited from the prospect of rising interest rates and rose by more than 3 percent. Deutsche Telekom increased by 2.8 percent. Good news for investors came from the subsidiary T-Mobile US, which has announced a share buyback program of up to around 14 billion euros.
Falling gas price boosts Uniper shares
The falling gas price boosted the shares of the Uniper Group, which was hit by the energy crisis. They continued their recovery from the record low reached on Wednesday with a price increase of more than eight percent. Because the group lacks Russian gas, it currently has to buy gas on the market at high prices in order to fulfill its customer contracts. A lower price therefore plays into Uniper’s hands. According to a trader, the increased profit target of the customer Fonterra was positive for Gea shares, with an increase of more than three percent.
Papers from the electronics retailer Ceconomy took the top spot in the small-caps index SDax, which continued their recent recovery rally with an increase of around twelve percent – this was preceded, however, by an almost continuous descent since the end of 2021. Papers from the laboratory chain Synlab climbed by more than six percent after a buy recommendation from Berenberg up.
