Investors on the German stock market decided to wait and see on Tuesday.
Investors on the German stock market decided to wait and see on Tuesday.
The leading index Dax rose in early trading by 0.11 percent to 16,064.80 points. Investors are waiting for the ZEW index, which measures the economic expectations of German financial experts, as well as for inflation figures from the USA.
“With the DAX, the struggle between bulls and bears continues,” wrote market expert Thomas Altmann from asset manager QC Partners. There is a bitter fight for the mark of 16,000 points. The leading index is close to the record high it reached on Friday at just under 16,085 points.
The MDax of medium-sized stocks posted a minus of 0.11 percent to 36,085.21 points on Tuesday. The leading Eurozone index EuroStoxx 50 fell slightly.
The topic remains the reporting season, which among other things provided business figures from Munich Re and Bayer. A high demand for seeds and pesticides as well as growth in the pharmaceutical business made the agrochemical and pharmaceutical company Bayer somewhat more confident. Thus, the shares of Leverkusen at the top of the Dax rose by almost three percent.
In contrast, Munich Re’s shares fell by around three percent at the end of the index after the reinsurer was unable to convince investors with its final quarterly figures. As it now turned out, the sale of stocks and bonds in particular kept the reinsurer in the black in the summer.
In the MDax, the Fraport shares took first place with a plus of two and a half percent. The recovery of air traffic from the Corona crisis is increasing the airport operator’s confidence.
There were more significant course jumps in the SDax. There, the shares of Nordex plummeted by five and a half percent, as higher costs as a result of the uncertainties in the raw material and logistics markets made the wind turbine manufacturer much more pessimistic.
In contrast, Schaeffler’s paper at the top of the index jumped around five percent. Analyst Jose Asumendi of the US bank JPMorgan praised the profitability of the auto supplier in a difficult quarter.
Source From: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
