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Stock exchange in Frankfurt: Dax still in the plus

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Hopes that inflation will continue to fall gave new impetus to the rally on the German stock market on Wednesday. The leading index Dax exceeded the mark of 14,900 points in the morning and has meanwhile reached its highest level since February last year.

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Hopes that inflation will continue to fall gave new impetus to the rally on the German stock market on Wednesday. The leading index Dax exceeded the mark of 14,900 points in the morning and has meanwhile reached its highest level since February last year.

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By midday, the stock market barometer had risen by 0.86 percent to 14,902.12 points. The MDax for medium-sized companies rose by 1.38 percent to 27,761.07 points. The Eurozone leading index EuroStoxx 50 gained 0.88 percent.

Across Europe, real estate values ​​in particular, which came under heavy pressure in 2022, benefited from the prospect of a somewhat less restrictive stance by the central banks if inflation were to actually lose further momentum. In this case, interest rates are likely to come under increased pressure, which will make it easier to refinance real estate. In Germany, Vonovia gained 3.6 percent and TAG Immobilien 6.6 percent.

At the top of the Dax, Siemens Energy shares rose by a good four percent. The energy technology group received an order worth billions for the connection of wind farms in the German North Sea.

At the pharmaceutical and agrochemical group Bayer, the pressure on the management is increasing. According to a media report, the activist investor Bluebell Capital Partners has now also acquired a stake in the company. The Bloomberg news agency reported that he was pushing for the group to be split up. Bayer shares gained 3.7 percent.

In addition, some companies with first quarterly figures were in focus. The software provider Teamviewer performed better than expected with its invoiced sales and operating result. The papers rose by around five percent.

In Cropenergies’ interim report, the signals in particular caused upset. In view of the persistently high energy and raw material costs with recently declining ethanol prices, the pressure on the result is increasing, it said. The shares lost more than four percent in the SDax small-cap index.

Source: Stern

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