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Sunday, February 5, 2023

Stock exchange in Frankfurt: Dax strong again

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The mood on the German stock market remains good on the second trading day of the year. Around noon on Tuesday, the Dax recorded a plus of 1.38 percent to 14,263.54 points. The MDax increased by 1.85 percent to 25,947.13 points, the leading euro zone index EuroStoxx 50 by 1.44 percent to 3911.58 points.

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The mood on the German stock market remains good on the second trading day of the year. Around noon on Tuesday, the Dax recorded a plus of 1.38 percent to 14,263.54 points. The MDax increased by 1.85 percent to 25,947.13 points, the leading euro zone index EuroStoxx 50 by 1.44 percent to 3911.58 points.

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Among the German individual stocks, Brenntag, the leader of the Dax, stood out positively on Tuesday with a plus of 6.3 percent. The fact that the chemicals trader decided not to take over US competitor Univar Solutions after public criticism from a shareholder does not come as a complete surprise, according to one trader. Nevertheless, he rated the decision as moderately positive for the stock.

Real estate and online stocks, which were among the biggest losers in 2022, continued to recover. They benefit from the hope that inflationary pressures will ease. In the Dax, the real estate group Vonovia and the online fashion retailer Zalando were among the better values ​​with gains of 1.9 and two and a half percent. The cooking box supplier Hellofresh and the food delivery service Delivery Hero were ahead thanks to premiums of 8.3 and 5.4 percent in the MDax, while TAG Immobilien was up almost four percent. The online used car dealer Auto1, which is listed in the SDax small-cap index, recovered by 6.6 percent.

Otherwise, the focus was on the medical and pharmaceutical industry with analyst statements. The shares in the dialysis specialist FMC lost almost one and a half percent at the end of the Dax after the US analysis company Jefferies had downgraded them to “underperform”.

The shares of the pharmaceutical and agrochemical group Bayer and the biotech company Morphosys were far behind in view of downgrades by the US bank JPMorgan with a narrow plus or minus of 2.4 percent in the Dax and the SDax.

Source: Stern

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