After increasing losses since the beginning of the year, the German stock market tried once again to stabilize on Wednesday. The leading index Dax rose by 1.95 percent to 12,642.57 points, but is still far from its previous day’s high. Expectations of pronounced economic weakness pushed the stock market barometer down almost 3 percent on Tuesday, to the lowest level since November 2020.
After increasing losses since the beginning of the year, the German stock market tried once again to stabilize on Wednesday. The leading index Dax rose by 1.95 percent to 12,642.57 points, but is still far from its previous day’s high. Expectations of pronounced economic weakness pushed the stock market barometer down almost 3 percent on Tuesday, to the lowest level since November 2020.
The MDax of medium-sized stocks gained 1.48 percent in early trading to 24,998.56 points. The Eurozone leading index EuroStoxx 50 rose by 2.08 percent.
The courses received support primarily from the US technology exchange Nasdaq. Investors ventured there again on Tuesday, the Nasdaq 100 index had recovered after the stock market closed in Europe.
So far, the 40 Dax companies have lost around a fifth of their stock market value since the beginning of the year. In the past few weeks, attempts at recovery have repeatedly been followed by losses, some of them high.
“Currently, new, sometimes political risks are being added to the already serious problems,” wrote market expert Andreas Lipkow from Comdirect. According to Lipkow, the overall picture is not unambiguous and clearly recognizable. There are always glimmers of economic hope and signs of a slowdown in inflation. Nevertheless, both interest rate concerns and recession fears repeatedly weighed on prices.
Looking at individual stocks, hard-hit Hellofresh and Delivery Hero stocks benefited from a deal between Just Eat Takeaway and Amazon. In the wake of Just Eat Takeaway, which rose by almost 17 percent in Amsterdam, Hellofresh gained a good 6 percent at the top of the Dax and Delivery Hero more than three percent in the MDax.
Under the terms of the agreement, Amazon Prime customers will be able to use Just Eat Takeaway’s Grubhub meal delivery service free of charge for one year. In addition, Amazon can acquire shares in Grubhub.
At the end of the Dax, Adidas shares fell by almost three percent after a skeptical analyst comment from Hauck Aufhäuser Investment Banking.
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.
