The German stock market hardly moved after the setback at the start of the week on Tuesday. In the afternoon, the Dax lost 0.14 percent to 15,324.06 points. The MDax for medium-sized stocks fell by 0.39 percent to 29,208.42 points, while the eurozone benchmark index Eur.oStoxx 50 stood at 4207.35 points, an increase of 0.05 percent.
The German stock market hardly moved after the setback at the start of the week on Tuesday. In the afternoon, the Dax lost 0.14 percent to 15,324.06 points. The MDax for medium-sized stocks fell by 0.39 percent to 29,208.42 points, while the eurozone benchmark index Eur.oStoxx 50 stood at 4207.35 points, an increase of 0.05 percent.
On Thursday, the Dax had reached 15,520 points, its highest level in almost a year. However, interest rate concerns fueled by Friday’s strong US job market report temporarily pushed it down to 15,275 points at the beginning of the week.
The energy technology group Siemens Energy reported a more than doubled loss for the first quarter of the year – but the shares have recently recovered somewhat from the previous losses at minus 0.2 percent.
The shares in the industrial gases group Linde showed little change in terms of numbers. Thanks to high demand from the electronics, metal and mining industries, the currently most valuable company on the Frankfurt Stock Exchange, which will leave the Dax in a few weeks, was able to increase its profit in 2022 and intends to do even better in 2023.
Synlab shares fell to a record low at the end of the SDax small-cap index and recently lost 21 percent. The laboratory specialist presented key data for 2022 and lowered its targets for 2023 due to lower demand and lower prices for its corona tests.
The IT service provider Bechtle recorded further strong growth last year, also thanks to a strong final quarter, as key figures show. The shares still lost 0.4 percent, paying further tribute to somewhat disappointing profitability and their good year-to-date performance. On Thursday they had marked their highest level since mid-September.
The euro continued its downward trend and was last seen at $1.0699. The European Central Bank (ECB) last set the reference rate at $1.0776 on Monday afternoon.
On the bond market, the current yield rose from 2.26 percent on the previous day to 2.29 percent. The Rex pension index fell by 0.08 percent to 125.90 points. The Bund future lost 0.28 percent to 136.44 points.
Source: Stern
