At the beginning of the new week, the German stock market gained momentum from New York. The leading index Dax closed 0.46 percent higher at 15,102.95 points. The MDax for medium-sized companies rose by 0.76 percent to 28,692.69 points.
At the beginning of the new week, the German stock market gained momentum from New York. The leading index Dax closed 0.46 percent higher at 15,102.95 points. The MDax for medium-sized companies rose by 0.76 percent to 28,692.69 points.
In the afternoon, the rising US stock exchanges brought some momentum to the otherwise largely calm trade. According to stockbrokers, recent statements from the US Federal Reserve’s environment had a positive effect on Wall Street, suggesting more moderate interest rate hikes. Technology stocks in particular rose there ahead of important quarterly reports from the industry that are forthcoming
Symrise provided a rather bland foretaste of the forthcoming reporting season. An impairment on a stake in Sweden eroded the flavor and fragrance manufacturer’s profit in 2022. Sales were convincing, but the development of margins was disappointing. Investors were used to something different from the company, which has often fared better in difficult times. The papers fell by 5.7 percent as the Dax tail light, at times they reached their lowest level in more than three months.
The shareholders of Wacker Chemie also had to digest weak key data. The specialty chemicals group announced an operating profit below the average analyst estimate for the final quarter. However, the shares caught up on the temporary price losses, as shown by an increase of almost 0.2 percent at the end. As was the case recently with BASF, weak figures in the chemical sector no longer surprised investors at first glance, judged one trader.
From an industry perspective, real estate stocks did well. Analyst Rob Jones from the investment bank Exane BNP Paribas warned investors “not to miss the ship” after the weak previous year. His favorites include Vonovia, which rose by 2.9 percent on Monday and was one of the strongest Dax stocks.
Despite missing the earnings target (EBIT) for 2022, the shares of Secunet Security Networks rose by 5.3 percent, leading the SDax small-cap index. The IT security service provider achieved record sales and exceeded management’s target.
The New York Dow Jones Industrial was up almost 1 percent at the close in Europe, while the tech-heavy Nasdaq 100 was up around 2 percent. The Eurozone leading index EuroStoxx 50 gained 0.75 percent to 4150.82 points.
The euro was last listed at 1.0860 US dollars. The European Central Bank (ECB) set the reference rate at 1.0871 (Friday: 1.0826) dollars on Monday. The dollar thus cost 0.9199 (0.9237) euros.
On the bond market, the current yield rose from 2.13 percent on Friday to 2.18 percent. The Rex pension index fell by 0.23 percent to 126.78 points. The Bund future lost 0.23 percent to 137.87 points.
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.
