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Thursday, March 23, 2023

Stock exchange in Frankfurt: Dax rises above 15,500 points

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The Dax has gained new impetus. At the same time, investors focused on numerous quarterly reports and outlooks.

The Dax has gained new impetus. At the same time, investors focused on numerous quarterly reports and outlooks.

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In early trading, the leading German index rose by 0.78 percent to 15,520.66 points. The MDax gained 1.18 percent to 28,791.70 points, and the leading euro zone index, the EuroStoxx 50, rose by 0.65 percent to 4,270.58 points.

Among the individual values ​​in the Dax, the focus was primarily on the shares of Heidelberg Materials, Deutsche Telekom and Munich Re. Before the start of the stock exchange, everyone had presented figures and made statements about the new year.

The world’s largest reinsurer Munich Re, which the day before caused little enthusiasm with its statements about the dividend and further share buybacks, now reported a surprisingly strong annual profit. The shares, however, fell by 3.5 percent as the Dax tail light.

Heidelberg Materials also fell despite good figures and a solid outlook. The price loss was significantly lower at 0.2 percent. Reference was also made to the strong price development for the building materials manufacturer. So far in the year, the share has developed as well as only a few others in the Dax with a plus of 21 percent.

By contrast, the T-Share rose by 1.1 percent, reaching its highest level since the summer of 2001. And this despite the fact that a dealer spoke of a “somewhat gloomy outlook”.

Numerous companies also submitted their annual reports from the MDax and SDax. The mobile phone company Freenet and the special packaging manufacturer Gerresheimer, for example, performed better than expected, with their shares increasing by 0.9 percent and 3.6 percent, respectively.

On the other hand, the shares of the mechanical engineering company Dürr lost 2.0 percent at the end of the MDax. Fielmann, bottom of the SDax, lost 3.7 percent. The optician chain reported a drop in earnings for 2022 and now wants to cut the dividend.

Source: Stern

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