Thanks to friendly US stock exchanges, the Dax made up for part of its losses at the start of the week and closed above the 14,000 point mark. The leading German index ended trading on Tuesday with a plus of 0.72 percent to 14,039.47 points.
Thanks to friendly US stock exchanges, the Dax made up for part of its losses at the start of the week and closed above the 14,000 point mark. The leading German index ended trading on Tuesday with a plus of 0.72 percent to 14,039.47 points.
The MDax of medium-sized stocks rose by 1.39 percent to 29,932.77 points. Gains were also posted across Europe.
The market is expecting the Fed to raise interest rates by 0.5 percentage points in the middle of the week. However, this tends to reduce the attractiveness of equities, which are considered riskier securities compared to bonds. The day before, the yield on ten-year US government bonds had climbed above three percent for the first time since December 2018. In Germany, the yield on ten-year Bunds briefly climbed over one percent on Tuesday morning, the highest level since mid-2015.
With a view to individual stocks in this country, quarterly reports continued to shape the picture. The evening before, the plastics manufacturer Covestro disappointed with a more pessimistic outlook for the year as a whole. As a Dax taillight, the share lost almost 5 percent.
Bank stocks rose across Europe after positive news from BNP Paribas. The major French bank surprised with a jump in profits and dragged along the shares of Deutsche Bank in the Dax, which rose by a good four percent.
In the MDax, Dürr’s share quickly corrected its weaker start to trading and ultimately gained 4.3 percent. The lowered margin forecast by the plant manufacturer did not additionally burden the share price, which had slumped since the beginning of the year.
Adler Group shares largely made up for the previous day’s fall in price and rose by around 33 percent. After the auditing company KPMG had refused the real estate group the attestation for the 2021 business figures, the paper collapsed at the beginning of the week. Now there was talk of speculative purchases in trading.
Among the major stock exchanges in Europe, the leading eurozone index EuroStoxx 50 advanced by 0.77 percent to 3761.19 points, with gains also being recorded in Paris and London. In the USA, the Dow Jones Industrial recently advanced by 0.6 percent, and the technology stock exchange Nasdaq also rose.
The euro was trading at $1.0532 early in the evening. The European Central Bank set the reference rate at 1.0556 (Monday 1.0524) dollars. The dollar thus cost 0.9473 (0.9502) euros. On the bond market, the Rex bond index fell by 0.25 percent to 135.63 points. In contrast, the current yield rose to 0.86 percent from 0.80 percent the previous day. The Bund future was up 0.01 percent at 153.34 points.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
