The Dax has made up for a large part of its moderate losses from the previous day. But it wasn’t enough for bigger jumps. In early trading, the leading German index rose by 0.30 percent to 15,880.86 points, which means that the weekly balance sheet would still be slightly negative for the first time in four weeks. The MDax fell by 0.11 percent in the morning to 27,216.61 points. Slight gains were recorded on the stock exchanges across Europe.
The Dax has made up for a large part of its moderate losses from the previous day. But it wasn’t enough for bigger jumps. In early trading, the leading German index rose by 0.30 percent to 15,880.86 points, which means that the weekly balance sheet would still be slightly negative for the first time in four weeks. The MDax fell by 0.11 percent in the morning to 27,216.61 points. Slight gains were recorded on the stock exchanges across Europe.
Talks between the US and China are bolstering sentiment. Amidst major tensions, senior officials from both governments met again after a long radio silence. According to the White House, “open, factual and constructive discussions” were held. However, there are also factors of uncertainty: such as the discussions in the USA about raising the debt ceiling, concerns about recession or the US banking sector.
The German stock market barometer has been fluctuating around 400 points for a good month now. There is support just below 15,700 points. On the other side is the previous record high of 16,290 points.
On the company side, the Allianz share in the Dax fell by 0.9 percent. Due to higher prices and lower damage from natural disasters, the insurance group reported a jump in profits in the first three months of 2023, but according to a dealer, the quarterly report presented in the morning also offers material for pessimists.
For the RWE paper, on the other hand, the top of the index rose by 1.8 percent. The US investment bank Goldman Sachs is now even more optimistic about the energy supplier and has raised its price target to EUR 58.50.
On the other hand, a large number of old projects weighed on the wind turbine manufacturer Nordex in the first quarter, which brought the share down 0.7 percent. The industry has been suffering from supply chain problems and high costs for many months and is currently dealing with many unprofitable orders.
Source: Stern
