After a stable start to trading, the Dax marked its highest level in thirteen months on Tuesday. The mark of 15,700 points is getting closer and closer.
After a stable start to trading, the Dax marked its highest level in thirteen months on Tuesday. The mark of 15,700 points is getting closer and closer.
Support also comes from German industry. This got off to a solid start in the new year and received more orders than in December. Analysts, on the other hand, had expected a decline on average.
The leading German index gained 0.14 percent in early trading to 15,675.27 points. On Monday, the leading German index managed to climb to just under 15,680 points, its highest level since February last year. The MDax for medium-sized stocks increased by 0.08 percent to 29,195.70 points. The Eurozone leading index EuroStoxx 50 remained unchanged at 4313.75 points.
Some nervousness could be felt in trading as Fed Chairman Jerome Powell is due to speak before the US Senate Banking Committee later. Thomas Meißner, head of research for financial market strategy at LBBW, expects the relationship between the real economy and inflation to be at the forefront of the discussion. “How much slowdown in economic activity will the Federal Reserve take to curb rampant inflation?”
In the Dax, Zalando took the index lead with plus 5.1 percent, while Henkel found itself at the end of the index with minus 3.4 percent after recent price gains. After a slump in profits last year, the online fashion retailer Zalando wants to significantly improve its profitability by 2025, which was positively received on the market.
The consumer goods and adhesives manufacturer Henkel could not inspire. At first glance, there were no major surprises in the figures for the final quarter of 2022, according to DZ Bank. Bernstein analyst Bruno Monteyne, on the other hand, emphasized that the consumer division had disappointed again.
The Brenntag papers went up by 2.0 percent, because according to circles, the chemicals dealer wants to buy back at least five percent of its shares.
At the end of the MDax, Hellofresh lost a double-digit percentage at times. Most recently, the shares lost 5.9 percent. A dealer and analyst Marcus Diebel from JPMorgan gave a negative assessment of the operating earnings outlook for the cooking box supplier. Gea, on the other hand, was one of the favorites in the index of medium-sized stocks with a plus of 1.2 percent, because the plant manufacturer exceeded its previously raised profit target in 2022 and also the average expectations of industry experts.
Schaeffler lost 7.1 percent in the SDax, because the automotive and industrial supplier, which is still struggling with high costs, disappointed with its operating result and profitability in the fourth quarter. In addition, the outlook was cautious.
Source: Stern
