Investors on the German stock market have digested the interest hangover of the previous week. The Dax was also able to stabilize today thanks to a stronger than expected Ifo business climate.
Around noon, the leading German index was up 0.68 percent at 13,987.21 points. This is getting closer to the 14,000 point mark, below which the stock market barometer had fallen last week for the first time since early November.
The MDax for medium-sized companies also rose and was most recently 0.82 percent higher at 25,166.49 points. In Europe, the Eurozone leading index EuroStoxx 50 advanced by 0.66 percent to 3829.27 points.
Porsche AG share increases
On the company side, after the reorganization of the Dax family, the shares of the Dax newcomer Porsche AG advanced by more than two percent. The sports car manufacturer thus occupied the top spot in the index. The holding company Porsche SE was also in demand with an increase of almost two percent. Volkswagen preferred shares were only listed clearly in the red because of a special dividend in connection with the Porsche IPO. Excluding the dividend deduction, the plus was more than five and a half percent and thus more than with the sports car subsidiary.
The papers of Deutsche Post were also among the few Dax losers. A downgrading of Citigroup on Friday with minus 2.2 percent had an impact here.
Takeover fantasies fueled the ProSiebenSat1 shares with a plus of more than five percent. There is once more speculation about the goals of the major shareholder Media For Europe. It has long been said that the holding company of the Italian media mogul Silvio Berlusconi is pursuing a long-term strategy at ProSieben and wants to acquire additional voting rights.
Rheinmetall shares slipped at the end of the MDax by more than three percent in view of another breakdown in the “Puma” infantry fighting vehicle. The combat vehicle, which was plagued by numerous defects, had recently failed completely during exercises by the Bundeswehr.
