Further price losses pushed the Dax well below the much-noticed mark of 16,000 points on Thursday. More than an hour after the start of trading, it lost 0.77 percent to 15,899.13 points. The MDax of medium-sized companies lost only 0.09 percent to 26,558.61 points, while the Eurozone leading index EuroStoxx 50 fell by 1.10 percent to 4275.15 points. The prospect of further increases in US key interest rates this year following the interest rate pause recently put in place is currently weighing on the stock exchanges.
Further price losses pushed the Dax well below the much-noticed mark of 16,000 points on Thursday. More than an hour after the start of trading, it lost 0.77 percent to 15,899.13 points. The MDax of medium-sized companies lost only 0.09 percent to 26,558.61 points, while the Eurozone leading index EuroStoxx 50 fell by 1.10 percent to 4275.15 points. The prospect of further increases in US key interest rates this year following the interest rate pause recently put in place is currently weighing on the stock exchanges.
The interest rate decisions of several central banks are on the agenda this Thursday, but mostly from the second tier. Shortly after the start of the stock market in Europe, it became known that the Swiss monetary authorities, as expected, had raised the key interest rate by a further 0.25 percentage points to 1.75 percent in the fight against high inflation and were not ruling out further increases. A little later, the Norwegian central bank announced a larger-than-expected rate hike of 0.5 percentage points. Around noon, the Bank of England and the Turkish central bank will report on their future monetary policy.
German company news was initially scarce on Thursday. Therefore, the focus was primarily on studies. A price increase of 0.4 percent was enough for the pharmaceutical and laboratory supplier Sartorius for one of the top Dax places after the private bank Berenberg had voted to buy. The shares were thus able to stabilize further after surprisingly sharply reduced annual targets had sent them plummeting on Monday. Analyst Odysseas Manesiotis lowered the price target significantly to EUR 390, but is still around 22 percent above the current valuation level.
In the MDax, the wind turbine manufacturer Nordex and the food delivery service Delivery Hero were among the best values with price gains of 2.7 and 1.7 percent. The French investment bank Exane BNP Paribas upgraded Nordex to “Outperform” in view of the below-average share price development since the beginning of the year. In her industry study, she also praised the strong presence in the German home market.
The US investment bank Goldman Sachs followed the observation of Delivery Hero with a buy recommendation. Here, too, the analysts referred to the weak performance of the shares to date and emphasized the best growth prospects compared to the competition.
Source: Stern
