After losses in the middle of the week, more buyers were found on the German stock market on Thursday. The Dax expanded its profits in early trading and climbed back above the last highly competitive mark of 15,700 points.
After losses in the middle of the week, more buyers were found on the German stock market on Thursday. The Dax expanded its profits in early trading and climbed back above the last highly competitive mark of 15,700 points.
Most recently, the leading German index was up 0.64 percent at 15,716.41 points.
The MDax of the 60 medium-sized stock market stocks advanced by 0.24 percent to 35,535.33 points in the morning. For the leading European index EuroStoxx 50, the upward trend was even more significant, with a plus of 0.75 percent to 4,176.90 points.
Wall Street gave slightly positive indications. A surprisingly friendly leading economic indicator had made for more risk appetite after the Dow Jones had slipped to its lowest level in almost two months on Tuesday. In Asia, the trading day was mostly negative. There, the stockbrokers continue to drive the crisis surrounding the highly indebted Chinese real estate giant Evergrande.
“In this country, the stock exchange traders are still not upset,” wrote market observer Thomas Altmann from the asset manager QC Partners. Neither the Evergrande crisis nor a possible further corona spread caused a stir.
In the Dax, there are 31 members on the price board for one day this Thursday, shortly before the German leading index is then permanently increased to 40 values from Monday. The spin-off of the drive technology subsidiary Vitesco from Continental becomes a temporary member. Conti shareholders receive one Vitesco share for every five Continental shares.
In view of the spin-off, Continental shares were traded below 100 euros in the morning; most recently, 98.94 euros were paid. From a purely visual point of view, this means a minus of around 12.5 percent because of the discount for the Vitesco shares issued. Adjusted for the spin-off, the exchange rate was down 1.3 percent.
After a buy recommendation by Deutsche Bank, shares in the consumer goods group Henkel took the top spot in the Dax with a premium of more than 2.2 percent. Analyst Tom Sykes considers the risk-reward ratio of the papers to be promising again. For 2022, he sees clear potential for recovery in business with the automotive industry.
Wacker Chemie’s raised annual forecast was also well received by investors. The shares are more expensive by around 1.3 percent and are thus among the favorites in the MDax. In any case, the industry was in demand across Europe. Covestro shares rose by one and a half percent, spurred on by a positive analyst vote. For Linde it went up by 1.4 percent. Evonik shares advanced by around one percent.
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.
