Before important US economic data, investors on the German stock market became increasingly courageous in the middle of the week. Around an hour after the start of trading, the Dax increased its plus to 0.35 percent at 15,434.22 points.
Before important US economic data, investors on the German stock market became increasingly courageous in the middle of the week. Around an hour after the start of trading, the Dax increased its plus to 0.35 percent at 15,434.22 points.
The MDax for medium-sized companies went up 0.52 percent to 28,478.46 points in the morning. The Eurozone leading index EuroStoxx 50 gained 0.52 percent to 4260.83 points.
The surprisingly high US inflation rate published on Tuesday remains a burden for the stock markets, wrote Thomas Altmann from asset manager QC Partners. It is clear “that inflation may have been prematurely declared defeated and that the interest rate issue could continue to accompany us in an unpleasant way throughout the year.”
However, inflation and interest rates are “surprisingly cold at the moment,” added Altmann. With the US retail sales, the next important economic data would be due in the afternoon. A sharp rebound in January would be another indication of the current strength of the world’s largest economy.
Ceconomy stood out among the individual German stocks: Thanks to takeover speculation, the strong stocks jumped to the top of the SDax small-cap index with a plus of ten percent. The “Handelsblatt” reported, citing financial circles, of talks between the electronics retailer with its Saturn and Media Markt chains and the French retailer Fnac Darty about a possible merger. An insider said that the attempts were not particularly concrete, but more of a “mutual sniffing”.
Behind them, Elmos shares rose in price by 6.4 percent and were once again approaching their most recent record high. After a record year for 2023, the semiconductor manufacturer is significantly more confident than market expectations.
The shares of the telecommunications group United Internet, which had recently stabilized after a series of losses, increased in price by 2.3 percent after the announcement of share buybacks for up to almost 300 million euros, after a previously clear price increase. However, experience has shown that United Internet would also like to sell after positive news, a retailer had already pointed out in the morning.
Thanks to high electricity prices, the solar and wind park operator Encavis exceeded both its own planning and the expectations of analysts with the development in the past year. A stockbroker spoke of solid preliminary figures, which supported the shares after the recent weak development – they recently gained around one percent.
Meanwhile, Amadeus Fire 2022 missed its earnings forecast due to a wave of illnesses in the final quarter, although earnings before interest, taxes, and goodwill amortization adjusted for special effects rose to a record high. According to a dealer, the personnel service provider remained just below the consensus estimate. At 1.1 percent, the shares nevertheless gained a little more than the SDax.
Source: Stern
