Friendly guidelines from the Far East had a positive effect on the German stock market. The Chinese government lowered the stamp duty for stock trading for the first time in 15 years, which creates a positive mood and gives the trading venues in China a significant boost. Stocks in Japan and South Korea also rose at the start of the week. And on Wall Street, somewhat firmer courses are also expected at the starting bell.
Friendly guidelines from the Far East had a positive effect on the German stock market. The Chinese government lowered the stamp duty for stock trading for the first time in 15 years, which creates a positive mood and gives the trading venues in China a significant boost. Stocks in Japan and South Korea also rose at the start of the week. And on Wall Street, somewhat firmer courses are also expected at the starting bell.
Around noon, the Dax rose by 0.4 percent to 15,697 points. The MDax for medium-sized titles rose by 0.7 percent to 27,188 points. The EuroStoxx 50, the leading index for the eurozone, rose at a similar rate.
Concerns about interest rates initially took a back seat, but are not off the table. At the central bankers’ meeting in Jackson Hole, both US Federal Reserve President Jerome Powell and European Central Bank (ECB) President Christine Lagarde announced that they would continue to pursue a strict monetary policy in the fight against high inflation.
In London, the stock exchange is closed for a holiday, which should also have a slowing effect on German stock trading. For example, there are hardly any price-moving analyst comments in the morning.
In the friendly overall market, real estate stocks are among the losers. In the Dax, Vonovia was the biggest loser with minus 1.9 percent. The prices of TAG Immobilien and LEG Immobilien also fell. One trader sees the prospect of any further regulations as bad for sector sentiment. The top of the SPD parliamentary group advocates stricter limitations on rent increases.
Thyssenkrupp Nucera shares rose 4.2 percent. The manufacturer of electrochemical systems increased sales and earnings in the third quarter. Thyssenkrupp shares gained 1 percent.
Source: Stern
