The German stock market contained its moderate losses from early trading on Thursday and was largely stable. The Dax was last listed 0.28 percent higher at 16,153.79 points. The day before, the leading index had reached 16,240 points, the highest level since the record high of 16,427 points in mid-June. But there were no further purchases.
The German stock market contained its moderate losses from early trading on Thursday and was largely stable. The Dax was last listed 0.28 percent higher at 16,153.79 points. The day before, the leading index had reached 16,240 points, the highest level since the record high of 16,427 points in mid-June. But there were no further purchases.
The MDax with the 50 medium-sized titles increased by 0.04 percent to 28,390.88 points on Thursday. The EuroStoxx 50, the stock market barometer for the heavyweights in the eurozone, has recently stagnated at the previous day’s level.
Meanwhile, in Germany, inflation at the manufacturer level continued to weaken. Price increases for consumer and durable goods were offset by price decreases for intermediate products and energy. In the previous year, the prices that manufacturers received for their goods had risen at a record rate. Since then, inflation has been declining.
A deteriorating outlook from the world’s largest chip producer TSMC weighed on the semiconductor sector. The shares of the chip manufacturer Infineon fell by 0.8 percent and those of the plant manufacturer Aixtron, which specializes in the industry, by 3.1 percent.
The shares of the medical group Fresenius took the top spot in the Dax with a price increase of 5.2 percent. Confident analysts’ forecasts for the forthcoming quarterly figures from the dialysis subsidiary FMC provided support. However, investors prefer to buy the parent company’s shares at the moment, after FMC has already increased by more than 60 percent this year. On the other hand, Fresenius still has considerable catch-up potential with a plus of 6 percent compared to the Dax.
Daimler Truck increased its operating profit (EBIT) in the second quarter more than expected by the market. However, Goldman analyst Daniela Costa believes that the figures will only have a limited impact on the price as the annual targets were raised a few days ago. The shares of the commercial vehicle manufacturer recently gained 0.6 percent.
After only minimal growth in the second quarter, Hellofresh reduced its sales target for the current year. In terms of profitability, however, the recipe box mail order company is making somewhat better progress than previously thought and expected by analysts. JPMorgan analyst Marcus Diebel primarily complained about the surprisingly low number of active customers. The Hellofresh papers fell by 8.2 percent as the weakest MDax value.
A buy recommendation from Societe Generale pushed K+S shares up 4.8 percent as the MDax leader. Analyst Thomas Swoboda expects a longer phase of stability on the global potash market. At K+S, most of the environmental problems in Germany have been solved and the balance sheet has been significantly strengthened, the expert wrote.
Source: Stern
