The Dax recovered from its losses in trading on Wednesday and closed with little change. Support came from the US stock exchanges in the afternoon, which also stabilized after a very weak previous day. The Ifo business climate, which brightened somewhat less than expected in Germany in February, had no discernible influence.
The Dax recovered from its losses in trading on Wednesday and closed with little change. Support came from the US stock exchanges in the afternoon, which also stabilized after a very weak previous day. The Ifo business climate, which brightened somewhat less than expected in Germany in February, had no discernible influence.
The leading German index ended the day up 0.01 percent at 15,399.89 points. The MDax for medium-sized stocks, on the other hand, lost 0.88 percent to 28,456.31 points. The leading eurozone index, the EuroStoxx 50, fell by 0.18 percent to 4242.88 points, and moderate losses were also recorded in Paris and London. In the USA, the most important indices showed minimal gains at the close of the European stock market.
Among the individual values in the Dax, the shares of Fresenius Medical Care (FMC) and its parent Fresenius took the top and bottom of the index. The reason for this were statements by the management on the restructuring of the group. The clinic and medical technology group Fresenius wants to remove the dialysis subsidiary from the balance sheet. Fresenius currently holds almost a third of FMC shares. While Fresenius shares lost 4.4 percent, FMC’s jumped 7.3 percent.
For the first time in ten years, Telefónica Deutschland achieved a healthy profit from its own resources. For 2023, however, the company expects slower growth. The stocks, which have performed strongly since the beginning of the year, were among the biggest losers in the MDax at minus 1.1 percent.
The special pump manufacturer and chip industry supplier Pfeiffer Vacuum, which now owns almost 64 percent of the Busch Group, wants to cut the dividend due to high investments. Shares closed 0.6 percent higher.
The euro was trading at $1.0625 early in the evening. The European Central Bank set the reference rate at 1.0644 (Tuesday: 1.0664) dollars. The dollar thus cost 0.9395 (0.9377) euros.
On the bond market, the current yield rose from 2.51 percent on the previous day to 2.56 percent. The Rex pension index fell by 0.31 percent to 124.44 points. The Bund future gained 0.28 percent to 134.26 points.
Source: Stern
