The Dax continued to stabilize on Tuesday. However, the respectable recovery gains increasingly crumbled in the course of trading.
The Dax continued to stabilize on Tuesday. However, the respectable recovery gains increasingly crumbled in the course of trading.
The reason given was the upcoming opening of the stock exchange in the USA after a long weekend due to the public holiday. In the afternoon, the German stock exchange barometer rose by 0.32 percent to 13,308.36 points after it had climbed well over 13,400 points at times. The MDax of medium-sized stocks recently gained 0.32 percent to 27,569.93 points.
Individual companies were primarily targeted with negative news. Nordex’s paper fell by a little more than seven percent. The wind turbine manufacturer, which was flown out of the SDax the day before because of the delayed figures, started the year 2022 with “surprisingly high losses” according to dealers.
Among the stocks from the retail sector, the online-focused companies in particular were weak. The US bank JPMorgan and also the investment bank Oddo BHF referred to rising living costs and interest rates, which will increasingly affect the industry. JPMorgan analyst Georgina Johanan therefore lowered her investment rating for the online fashion retailer About You to “neutral”. The share lost almost four percent in the SDax.
Oddo analyst Andreas Riemann pointed to growing risks for profit warnings at companies such as Adidas and Zalando, while being more bullish on Puma and Hugo Boss. While Zalando lost almost three and a half percent as the Dax bottom, Adidas was almost unchanged. Puma and Boss gained a little less than two percent.
The euro rose slightly in an overall friendly environment. In the early afternoon, the common currency was trading at $1.0555, slightly higher than in the morning. The ECB set the reference rate at $1.0517 on Monday. On the bond market, the current yield rose on Tuesday from 1.55 percent the day before to 1.64 percent. The Rex pension index fell by 0.41 percent to 131.09 points. The Bund future rose by 0.05 percent to 143.36 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.
