Stock exchange in Frankfurt: Dax increases again after setback

The Dax caught on Thursday after the setback in the middle of the week. In the first hour of trading, the leading German index rose by 0.42 percent to 13,683.70 points.

On Wednesday, the Dax failed on the way to the 14,000 point mark after a week’s gains. The returned fear of high interest rates and economic weakness had pushed the barometer down by a good two percent. The MDax of medium-sized companies gained 0.43 percent on Thursday to 27,662.09 points. The Eurozone leading index EuroStoxx 50 rose by 0.1 percent.

Not much had happened on Wall Street the night before the minutes of the most recent central bank meeting were published. The high rate of interest rate hikes by the US Federal Reserve will probably slow down for the foreseeable future. First of all, however, further interest rate increases are appropriate, according to the minutes. The Fed’s primary goal remains to reduce inflation.

On the corporate side, there is not much on the agenda on the penultimate trading day of the week. The titles of the shop pharmacy were moved by news from the Swiss competitor Zur Rose and gained 5.8 percent. Zur Rose achieved lower sales in the first half of the year and slid deeper into the red. Nevertheless, the company is aiming to break even in 2023, a year earlier than previously planned.

The commercial vehicle supplier SAF-Holland has reached its goal with the takeover of the Swedish brake manufacturer Haldex. At the end of the acceptance period, SAF-Holland controlled a good 93 percent of Haldex shares. The takeover bid was conditional on SAF-Holland receiving 90 percent of the shares. SAF-Holland shares gained two percent.