After a long period of lethargic trading, the German stock market got some momentum late on Tuesday. With the rise of the leading US index Dow to its highest level since April 2022, the German Dax also went up. At the end of a day that was otherwise poor in terms of impulses, the Dax recorded an increase of 0.35 percent to 16,125.49 points.
After a long period of lethargic trading, the German stock market got some momentum late on Tuesday. With the rise of the leading US index Dow to its highest level since April 2022, the German Dax also went up. At the end of a day that was otherwise poor in terms of impulses, the Dax recorded an increase of 0.35 percent to 16,125.49 points.
The index had previously moved in a narrow range around the previous day’s closing price with low stock market turnover. The bottom line, however, was that the Dax continued to consolidate from the past two sessions below the 16,200 point mark. The MDax of the 50 medium-sized titles did significantly better than the Dax on Tuesday and gained 1.24 percent to 28,067.94 points.
After a surprisingly good quarterly report by the Swiss pharmaceutical giant Novartis, shares from the healthcare sector were also sought after in the Dax. Bayer, Sartorius and Fresenius grew by 1.7 and 2.4 percent respectively.
Covestro shares rose by 5.6 percent almost at the closing bell. According to those informed, the state oil company Adnoc is increasing the offered purchase price per Covestro share for a takeover of the chemical company to 57 euros, as reported by the Bloomberg news agency.
Shares of Vonovia and TAG Immobilien got a boost from Deutsche Bank upgrades, gaining 4.1 percent and 4.9 percent, respectively. Analyst Thomas Rothäusler was more optimistic about the German housing industry, which should have bottomed out.
Strong quarterly results from Atoss Software and more optimistic growth targets pushed shares to record highs. The top of the SDax rose by 8.4 percent. In this stock market year, the price gain has already amounted to more than 60 percent.
The papers of Deutsche Beteiligungs AG climbed 1.7 percent. Following the sale of a stake and in view of good business development, DBAG is becoming more optimistic for the current financial year.
Rational’s share certificates rose by 5 percent to 659 euros at the top of the MDax. Societe Generale included the shares in its rating with a “buy” and a target price of EUR 855.
Statements on Knorr-Bremse’s future strategy and new financial targets for 2026 were not well received by investors. The course fell by 2.5 percent.
Across Europe, gains predominated on Tuesday. The Eurozone leading index EuroStoxx 50 rose by 0.30 percent to 4369.73 points. The stock exchanges in Paris and London reported slightly higher premiums. In New York, the Dow Jones Industrial was up one percent at the end of European trading.
The euro last cost 1.1236 US dollars. The European Central Bank (ECB) had set the reference rate at $1.1255. On the bond market, the current yield fell to 2.48 percent from 2.55 percent the previous day. The Rex pension index rose by 0.35 percent to 124.78 points. The Bund future rose by 0.82 percent to 134.18 points in the evening.
Source: Stern
