After jumping over the 16,000 point mark in early trading, the Dax quickly went into reverse again on Tuesday. Around noon, the leading German index fell by 0.15 percent to 15,898.92 points. The MDax of medium-sized stocks lost 0.34 percent to 27,761.04 points. The leading eurozone index, the EuroStoxx 50, fell by a good 0.2 percent.
After jumping over the 16,000 point mark in early trading, the Dax quickly went into reverse again on Tuesday. Around noon, the leading German index fell by 0.15 percent to 15,898.92 points. The MDax of medium-sized stocks lost 0.34 percent to 27,761.04 points. The leading eurozone index, the EuroStoxx 50, fell by a good 0.2 percent.
In the eurozone, inflation picked up again slightly in April at 7.0 percent. In contrast to general inflation, however, core inflation fell somewhat. The ECB is fighting the high inflation with higher interest rates. A further hike is expected at the next ECB interest rate meeting this Thursday. It remains to be seen whether there will be a larger interest rate hike of 0.5 percentage points or whether the ECB will downshift.
On Tuesday, the focus on the German market continued to be the planned takeover of Software AG. There could be a bidding competition here, as the financial investor Bain Capital has now built up a stake of more than ten percent. In the previous week, the US investor Silver Lake announced that it wanted to take over Software AG at a price of EUR 30 per share in cash. On Tuesday, Software AG’s price increased by seven percent to a good 33 euros.
A buy recommendation from Deutsche Bank for shares in SGL Carbon boosted the stocks of the carbon specialist. The course rose by twelve percent. The drug mail-order company Shop Apotheke impressed with quarterly figures. The shares still lost 1.5 percent and paid tribute to their year-to-date rally. The auto supplier Stabilus benefited in the second fiscal quarter from picking up auto production and good industrial business. But some analysts had expected more. The papers lost five percent.
In the Dax, the shares of the pharmaceutical and chemical companies Merck KGaA and Bayer were traded with a dividend discount, so price losses here are primarily of a visual nature. The best value in the leading index was the shares of the chip group Infineon with plus 3.2 percent.
Source: Stern
