Inflation data from the USA only gave the German stock market a little momentum on Wednesday and ultimately led to a directionless course. While the standard values in the Dax fell moderately, the shares in the second and third rows rose slightly.
Inflation data from the USA only gave the German stock market a little momentum on Wednesday and ultimately led to a directionless course. While the standard values in the Dax fell moderately, the shares in the second and third rows rose slightly.
The Dax closed 0.37 percent lower at 15,896.23 points. The leading index has been in a narrow range of around 400 points for more than four weeks. The MDax rose on Wednesday by 0.19 percent to 27,365.67 points. The SDax gained 0.26 percent to 13,732.82 points.
High inflation in the US continues to show its stubborn side. Although inflation continued to fall in April, it was only slightly. Consumer prices rose 4.9 percent year-on-year, the lowest increase in two years.
“While inflation is still well above the Fed’s target of 2%, it has now been falling for ten straight months, which is positive and makes a pause in the Fed’s rate-hiking cycle more likely,” commented analyst Konstantin Oldenburg from CMC Markets.
Among the individual values in the Dax, several groups with quarterly reports were in view. Costs for the restructuring of diagnostics and for a reorganization of the robotics business weighed on the medical technology group Siemens Healthineers in the second quarter of the financial year, which pushed the share down 5.7 percent to the end of the index.
Auto supplier Conti wins
The titles of the automotive supplier Conti, on the other hand, rose by 3.1 percent after an unexpectedly good start to the year. The Eon share, which has been running strongly since mid-October, fell by 1.6 percent after a somewhat more optimistic annual outlook from the energy supplier.
The papers of the building materials manufacturer Heidelberg Materials went down by 0.7 percent despite strong quarterly figures and a strong performance of the share for several months. In the MDax, Telefonica Germany also suffered from profit-taking after the quarterly report was presented and lost 4.6 percent.
Evotec, which had been removed from the MDax the day before because the pharmaceutical drug researcher had not submitted its annual report on time after a cyber attack, jumped almost 13 percent. The shares, which have been badly hit recently, benefited from a lucrative cooperation with the Novartis subsidiary Sandoz in the USA.
The euro was last traded at $1.0972. The European Central Bank had set the reference rate at $1.0950 in the afternoon.
On the bond market, the current yield rose from 2.33 percent on the previous day to 2.34 percent. The Rex pension index increased by 0.10 percent to 126.56 points. The Bund future recently gained 0.55 percent to 135.88 points.
Source: Stern
