The Dax was also stable at a high level on Tuesday. The 16,000 point mark remains in focus – despite weak economic data from China, a clearly gloomy mood in Germany according to ZEW data and the ongoing dispute over the debt ceiling in the USA.
The Dax was also stable at a high level on Tuesday. The 16,000 point mark remains in focus – despite weak economic data from China, a clearly gloomy mood in Germany according to ZEW data and the ongoing dispute over the debt ceiling in the USA.
At noon, the leading German index rose by 0.07 percent to 15,928 points. The MDax for medium-sized companies gained a minimum of 0.03 percent to 27,395 points, the situation was similar across Europe.
One reason for the decline in the sentiment indicator from the Center for European Economic Research (ZEW) in May is that the European Central Bank is expected to raise interest rates “even more sharply,” commented ZEW President Achim Wambach. “A possible default by the United States in the next few weeks will also increase uncertainty about international economic developments.” In order to bring about a solution to the debt dispute, US President Joe Biden once again invited high-ranking Republicans and Democrats to the White House shortly before his departure for the G7 summit in Japan.
Among the individual values in the Dax, Siemens Energy increased by a further 2.6 percent. The day before, the energy technology group had impressed with strong incoming orders and sales in the first quarter, despite the continued weakness of the wind turbine subsidiary Siemens Gamesa.
Infineon, which was in demand like other European chip manufacturers, also attracted attention with price gains of 1.8 percent. The PC market remains in correction mode after the Corona boom, but the decline is now “less ugly,” wrote Bernstein expert Stacy Rasgon. A certain stabilization is emerging.
Talanx suffered from a downgrade in the MDax with minus 1.3 percent. In the SDax, Hornbach Holding lost 7.5 percent given the weak expectations for the first quarter of 2023/24 and statements about the year as a whole.
Source: Stern
