After a strong start to the year, the German stock market made some gains. The leading index Dax rose on Monday by 0.28 percent to 14,651.62 points. The MDax for medium-sized German companies went up 0.86 percent to 27,203.31 points. The Eurozone leading index EuroStoxx 50 gained 0.32 percent.
After a strong start to the year, the German stock market made some gains. The leading index Dax rose on Monday by 0.28 percent to 14,651.62 points. The MDax for medium-sized German companies went up 0.86 percent to 27,203.31 points. The Eurozone leading index EuroStoxx 50 gained 0.32 percent.
On Friday, Wall Street reacted to generally robust job data with strong price gains and thus already ensured a friendly mood on the international stock markets.
According to Bank Credit Suisse, the lower-than-expected increase in wages gives the US Federal Reserve scope for a pause in the rate hike cycle. Market expert Andreas Lipkow expressed a similar opinion: “Investors in the USA currently see a slower pace of future interest rate changes as likely.”
In the Dax, Mercedes-Benz shares rose by more than one percent. The carmaker’s papers are among the preferred values of the US bank Citigroup in Europe.
There was also praise from analysts for Allianz shares, which gained a good one and a half percent. Analyst Ashik Musaddi of US investment bank Morgan Stanley expects strong pricing and improving sales trends at the insurance group to override the effect of inflation and accounting changes.
Among the best values in the MDax, Knorr- Bremse shares rose by around three percent. In light of China’s reopening, Deutsche Bank Research analyst Gael de-Bray recommended buying the shares based on expected total returns over the next 12 months. In 2022, the China market was a heavy burden for the papers of the brake manufacturer for rail and commercial vehicles, but from then on it was to benefit greatly from the easing. Added to this is the strong demand on the markets in the USA and Europe.
Meanwhile, the ongoing debate about the future of biofuels weighed on the companies active in this sector. Federal Minister of Agriculture Cem Özdemir (Greens) wants to end the production of biofuel from grain quickly, as he told the Funke media group. Food does not belong in the tank, Özdemir said accordingly. As a result, Verbio’s shares in the MDax fell by one percent. The shares of Cropenergies lost more than four percent, bringing up the rear in the SDax small-cap index.
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.
