Thanks to positive input from Wall Street, the German stock market began to recover on Thursday. The Dax traded 1.15 percent higher at 15,146.17 points in early business.
Thanks to positive input from Wall Street, the German stock market began to recover on Thursday. The Dax traded 1.15 percent higher at 15,146.17 points in early business.
On Wednesday, the Dax closed below the last competitive mark of 15,000 points. The MDax of the medium-sized stock market values gained 0.79 percent on Thursday to 33,557.53 points. For the EuroStoxx 50, the leading index in the Eurozone, it rose by around 1.3 percent.
“Now it will be exciting to see whether further price gains are sustainable and lay the foundation for a Christmas rally or whether price gains are immediately viewed as a sales opportunity again,” remarked market expert Thomas Altmann from QC Partners.
The rebound on Wall Street followed an offer by Republicans not to block the extension of the US debt ceiling until December. Earlier, Treasury Secretary Janet Yellen had once again warned of a possible financial crisis and recession if the US government were to fail to service its debts for the first time.
Support is also provided by the more relaxed situation on the oil market after Russian President Vladimir Putin spoke out in favor of examining a possible increase in gas supply for the EU. Altmann also believes that the planned online meeting between US President Joe Biden and China’s head of state Xi Jinping gives hope for better trade relations between the two major economic powers.
German industrial production is falling sharply
On the other hand, negative impulses are coming from German economic data. German industry produced 4.0 percent less in August compared to the previous month. Analysts had only expected a decline of 0.5 percent. German order numbers had already disappointed on Wednesday and showed how badly the industry is currently suffering from the many bottlenecks in international trade in goods.
Among the individual values in the Dax, BMW were among the front runners with a plus of 1.8 percent. The automaker was able to cushion the shortages in semiconductors in the third quarter better than its competitor Mercedes-Benz. The Munich carmaker sold 12 percent fewer vehicles from July to the end of September than in the same period last year. However, Mercedes-Benz was 30 percent below the previous year in the third quarter.
Vonovia shares rose by 0.7 percent. After the regular acceptance period for the offer to Deutsche Wohnen shareholders of EUR 53 per share, Vonovia now holds 60.30 percent of the voting rights.
Nordex shares rose by 2.3 percent, making them one of the top values in the SDax. The wind turbine manufacturer received another order from the Ukraine. For the Eco-Optima group of companies, the Germans are to deliver ten turbines for a 54.6 megawatt wind farm, including a maintenance contract for 15 years.
In contrast, the shares of the Adler Group again brought up the rear with minus 6.6 percent in the SDax, after having slumped by 26 percent the day before. The reason for this were so-called short sellers: The shortseller Viceroy had raised allegations against the real estate company with a view to the balance sheet. The company had denied the allegations, but apparently did not convince investors.
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.
