Investors on the German stock market took a rather wait-and-see attitude ahead of new US inflation data on Tuesday afternoon. The Dax was up 0.38 percent at 15,456.34 points in the late morning. In contrast, the MDax for medium-sized stocks fell by 0.13 percent to 28,471.30 points. The SDax, which represents the shares from the third row, rose by 0.70 percent to 13,401.09 points. The Eurozone leading index EuroStoxx 50 gained around 0.4 percent.
Investors on the German stock market took a rather wait-and-see attitude ahead of new US inflation data on Tuesday afternoon. The Dax was up 0.38 percent at 15,456.34 points in the late morning. In contrast, the MDax for medium-sized stocks fell by 0.13 percent to 28,471.30 points. The SDax, which represents the shares from the third row, rose by 0.70 percent to 13,401.09 points. The Eurozone leading index EuroStoxx 50 gained around 0.4 percent.
Among the individual stocks, the shares of Delivery Hero stood out with an early loss of up to 6.6 percent after the food delivery service obtained fresh capital with convertible bonds. In the period that followed, the course struggled to a recent minus 3.4 percent.
MTU’s shares fell by 1.9 percent as the bottom of the Dax. The engine manufacturer increased sales by 27 percent in 2022 and thus missed the revenue target raised in autumn. Operating profit (adjusted EBIT) jumped 40 percent, beating analysts’ expectations.
Falling steel prices in the trading business brought the Thyssenkrupp industrial group a drop in profits in the first quarter of the financial year. Thyssenkrupp stocks lost more than 9 percent.
The shares of the Norma Group reacted to takeover speculation and positive business figures from the fastening technology specialist with a price jump of more than 17 percent. They were the clear leader in the SDax and reached their highest level since June 2022.
Bilfinger’s shares benefited from positive business figures and shot up by 8.8 percent. The shares of SFC Energy were the weakest SDax value with minus 5.6 percent. According to analyst Malte Schaumann from Warburg Research, the fuel cell supplier’s outlook for 2023 is in line with his estimates, but could disappoint some market players.
Source: Stern
