The German stock market did not find a clear direction on Thursday. The price movements of the most important indices were kept within narrow limits. Stockbrokers explain the reluctance on the markets with the prospect of a restrictive approach by the important central banks in the fight against high inflation. The market is counting on further increases in key interest rates – all the more so after the Bank of Canada surprised with an increase on Wednesday. In addition, share prices have already risen sharply in recent months.
The German stock market did not find a clear direction on Thursday. The price movements of the most important indices were kept within narrow limits. Stockbrokers explain the reluctance on the markets with the prospect of a restrictive approach by the important central banks in the fight against high inflation. The market is counting on further increases in key interest rates – all the more so after the Bank of Canada surprised with an increase on Wednesday. In addition, share prices have already risen sharply in recent months.
The leading German index Dax was up 0.08 percent on Thursday morning at 15,973.13 points. The day before, the stock market barometer had once again got stuck at the chart hurdle of 16,000 points. The MDax for medium-sized companies fell by 0.22 percent to 27,080.17 points. The EuroStoxx 50 went slightly down.
In the Dax, Airbus shares fell by 0.28 percent. Despite the recent shortage of parts, the world’s largest aircraft manufacturer delivered more commercial jets in May than in any other month since the beginning of the year. Analyst Philip Buller from private bank Berenberg wrote that the numbers are encouraging, but it is still too early to draw any conclusions about the future course of events. In view of the very complex supply chains, the specialist expects further strong fluctuations in deliveries over the course of the year.
The papers of the laboratory supplier Sartorius brought up the rear in the Dax with minus 2.7 percent.
Outside of the major indices, Evotec’s shares soared 7.6 percent, benefiting from positive analyst commentary from Citigroup. Above all, the classification as a possible “Tesla of the biologics manufacturers” sounded attractive to investors. The story of the in-house platform Just – Evotec Biologics, with which the Bavarians have been advertising for years, has gained enormous contours through the recent deal with the Novartis subsidiary Sandoz, wrote Citi expert Peter Verdult.
Source: Stern
