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Wednesday, November 30, 2022

Stock exchange in Frankfurt: Dax is running out of air – US elections in view

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Jane
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.
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In somewhat higher regions, the Dax ran out of air on Tuesday. In early trading, the leading German index was just above the previous day’s close with a plus of 0.08 percent to 13,543.80 points. All eyes are on the US midterm elections, which should determine US President Joe Biden’s future leeway.

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In somewhat higher regions, the Dax ran out of air on Tuesday. In early trading, the leading German index was just above the previous day’s close with a plus of 0.08 percent to 13,543.80 points. All eyes are on the US midterm elections, which should determine US President Joe Biden’s future leeway.

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The MDax lost 0.53 percent to 24,211.24 points. The Eurozone leading index EuroStoxx 50 fell by 0.1 percent.

According to CMC Markets analyst Jochen Stanzl, the real test will come on Thursday when US inflation data are released. “With the European Central Bank and the Federal Reserve, the two major central banks have signaled that their rate hike course will no longer be 75 basis points per meeting, but only 50 basis points. But only if the inflation data allow it. The worst thing for the stock market would therefore be another jump in the inflation rate.”

In Germany, the reporting season continues on Tuesday with a well-filled agenda, including numerous Dax stocks. The titles from Qiagen were particularly striking, taking the lead in the Dax with a plus of more than three percent. The gene diagnostics group had raised its targets again.

Munich Re gained more than one and a half percent, analysts praised the insurer’s figures. Bayer, on the other hand, fell by almost three percent, Deutsche Post was moderately lower and Henkel lost two percent according to quarterly figures.

The chemical group Evonik is becoming a little more cautious for 2022 and wants to significantly reduce costs. The papers fell in the MDax by 1.5 percent. Fraport were only slightly lower. A trader said the airport operator’s better forecast could ultimately have been a little higher.

According to the figures, the shares of the automotive supplier Schaeffler and the radiation and medical technology company Eckert & Ziegler shone in the SDax with price gains of almost seven and more than four and a half percent, respectively. Deutsche Pfandbriefbank slipped eight percent after Deutsche Bank canceled a buy recommendation.

Source: Stern

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