Before the central bank meeting in Jackson Hole in the USA, a somewhat more cautious attitude prevailed on the German stock market on Thursday. The Dax, which had risen by a good one percent at its peak, gave up most of its gains by midday. Most recently, the leading German index was still moderately up 0.2 percent at 15,760 points.
Before the central bank meeting in Jackson Hole in the USA, a somewhat more cautious attitude prevailed on the German stock market on Thursday. The Dax, which had risen by a good one percent at its peak, gave up most of its gains by midday. Most recently, the leading German index was still moderately up 0.2 percent at 15,760 points.
Pre-market and also in early Xetra trading, strong quarterly figures and optimistic forecasts from the chip giant Nvidia had caused enthusiasm and driven the stock exchanges. The MDax for medium-sized titles rose by 0.2 percent to 27,367 points on Thursday. The leading eurozone index, the EuroStoxx 50, rose at a similar rate.
The decision on further progress on the stock exchanges could now be made in Jackson Hole, USA. The annual meeting of central bankers begins there this Thursday. The most important event will be a performance by US Federal Reserve Chairman Jerome Powell on Friday, Commerzbank said in the morning.
The situation on the bond market continued to calm down following the recent rally in US Treasury yields. This gave the real estate sector more room to breathe on the stock market. Vonovia gained 1.3 percent, and LEG Immobilien and TAG Immobilien also increased. Falling capital market interest rates make transactions and refinancing easier for real estate companies. In addition, the pressure to make further value adjustments on the portfolios is easing.
A recommendation from Morgan Stanley for Symrise shares drove the papers of the fragrance and flavor manufacturer at the top of the Dax by a good two percent. In the MDax, the price of CTS Eventim fluctuated greatly, the ticket marketer’s papers recently lost 1.6 percent. However, analysts mostly found words of praise for the company’s quarterly balance sheet and forecasts.
Source: Stern
