After the clear minus in the middle of the week, the German stock market started to recover on Thursday. The Dax reduced its earlier gains in the afternoon and was last listed up 0.6 percent at 15,757.75 points.
After the clear minus in the middle of the week, the German stock market started to recover on Thursday. The Dax reduced its earlier gains in the afternoon and was last listed up 0.6 percent at 15,757.75 points.
The day before, the leading index had fallen to its lowest level in seven weeks and ended May with a loss of around 1.6 percent. The MDax of medium-sized companies recently turned slightly negative to 26,532.08 points. The EuroStoxx 50 was up 0.4 percent.
Investors appear to continue to be cautious about the real estate sector. On the market it was said that there were still no arguments to buy given the uncertain interest rate prospects. Vonovia was the biggest loser in the Dax recently with a minus of 2.5 percent. LEG also fell by 2.5 percent in the MDax. Aroundtown lost 2.9 percent.
Disappointed reactions from US competitor Salesforce did not worry SAP investors. While the shares were in the red before the market, the price in Xetra trading was last up 0.4 percent. The market pointed out that Salesforce, while posting decent numbers after the US market close, disappointingly didn’t raise its revenue target.
According to an analyst study, Heidelberg Materials rose by 1.1 percent. The US bank JPMorgan upgraded the building materials group’s shares from “neutral” to “overweight” and increased the price target to 80 euros.
The rise in shares in the nationalized utility Uniper continued on Thursday with a plus of 21 percent. This means that the price increase since last Thursday has totaled over 80 percent.
The euro was last traded at $1.0708. The ECB had set the reference rate at 1.0683 (Tuesday: 1.0744) dollars the previous day, the dollar had cost 0.9361 (0.9308) euros.
On the bond market, the current yield rose from 2.31 percent on the previous day to 2.34 percent. The Rex pension index increased by 0.01 percent to 126.42 points. The Bund future gained 0.04 percent to 136.09 points.
Source: Stern
