After the recent losses, the German stock market recovered moderately on Wednesday. Support came from the US stock exchanges, where technology stocks in particular rose. The leading index Dax ended trading with a plus of 0.20 percent to 13,220.06 points.
After the recent losses, the German stock market recovered moderately on Wednesday. Support came from the US stock exchanges, where technology stocks in particular rose. The leading index Dax ended trading with a plus of 0.20 percent to 13,220.06 points.
Robert Halver, capital market analyst at Baader Bank, currently sees the German stock market in a “stable position” after the price slide at the beginning of the week. There is no reason for rapid price increases, but the Dax is also quite well secured from the bottom. It is positive, for example, that the German natural gas storage facilities are now more than 80 percent full, despite the sharply reduced delivery volumes from Russia. This provides some reassurance in the current energy crisis.
At the beginning of the week, the German stock exchange barometer fell by more than two percent in view of the renewed interest rate fears and fears of further rising energy prices and had given way a little further on Tuesday.
The MDax of medium-sized companies increased by 0.36 percent to 26,057.51 points in the middle of the week. The Eurozone leading index EuroStoxx 50 advanced by 0.41 percent to 3667.46 points. Paris also posted modest gains, while London was slightly down. In the USA, the indices, which initially started with no direction, gained momentum in the course of trading and rose at the close of the European stock market.
Among the individual values, the focus was in particular on CTS Eventim. The event service provider impressed with strong quarterly figures, but still failed to provide an outlook for the rest of the year. The papers gained 2.6 percent.
In the Dax, the shares of the laboratory supplier Sartorius took the lead with a plus of 4.2 percent, while Heidelbergcement and Eon each fell by 2.7 percent at the end of the index. However, there was no news.
Away from the Dax family, strong half-year figures brought the shares of SFC Energy a plus of 13.2 percent. Oddo BHF analyst Johannes von der Ohe attested the fuel cell manufacturer a respectable first half of the year with a second quarter that exceeded its expectations in terms of both sales and operating profit. Driven by the strong order development and price increases, SFC has found an answer to the prevailing inflationary pressure.
The euro was trading at $0.9965 early in the evening. The European Central Bank set the reference rate at 0.9934 (Tuesday: 0.9927) dollars. The dollar thus cost 1.0066 (1.0074) euros.
On the bond market, the current yield fell from 1.20 percent on the previous day to 1.19 percent. The Rex pension index rose by 0.10 percent to 133.68 points. The Bund future fell 0.21 percent to 150.25 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.
