The Dax lacked decisive impulses on Thursday. The leading German index made up for initial losses and increased by 0.16 percent to 15,985.69 points by midday. Stockbrokers explain the current restraint 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 Dax lacked decisive impulses on Thursday. The leading German index made up for initial losses and increased by 0.16 percent to 15,985.69 points by midday. Stockbrokers explain the current restraint 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 MDax for medium-sized companies also turned positive and was last listed 0.14 percent higher at 27,178.14 points. The EuroStoxx 50 was up 0.10 percent.
Airbus shares in the Dax fell by half a 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. At the end of the Dax, Sartorius shares, which have been doing well since the beginning of the month, suffered again from profit-taking and lost more than two percent.
Outside of the major indices, shares in drug researcher Evotec soared by almost nine 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
