With the hope of an economic recovery in China and in view of slightly falling capital market interest rates, the recovery of the German stock market from the beginning of the week continued on Tuesday. The leading index Dax gained 0.6 percent to 15,887 points in early Xetra trading. The MDax of medium-sized titles rose in the morning by 0.8 percent to 27,517 points. The EuroStoxx 50, the leading index for the euro zone, was also positive.
With the hope of an economic recovery in China and in view of slightly falling capital market interest rates, the recovery of the German stock market from the beginning of the week continued on Tuesday. The leading index Dax gained 0.6 percent to 15,887 points in early Xetra trading. The MDax of medium-sized titles rose in the morning by 0.8 percent to 27,517 points. The EuroStoxx 50, the leading index for the euro zone, was also positive.
The week before had got off to a good start on Wall Street, and China’s stock exchanges had risen again after the Chinese government’s support measures. “The good sentiment continued overnight,” Deutsche Bank analyst Jim Reid wrote in a market commentary.
The talks between the US and China are also important for investors. US Secretary of Commerce Gina Raimondo is in China until Wednesday. She has already agreed with the Chinese head of department Wang Wentao to set up a new working group in the dispute over trade issues. Investors could take this as a sign of relaxation, it said on the market.
Analyst comments caused movement for the individual stocks. Compugroup’s shares lost 3.3 percent. The US bank Jefferies canceled the buy recommendation for the software developer for the healthcare sector. Shares in the IT service provider Cancom, on the other hand, defied a canceled buy recommendation from Jefferies and gained 0.6 percent.
Papers from the solar and wind farm operator Encavis, on the other hand, rose by 3.3 percent, Jefferies had advised buying here. A buy recommendation from Goldman Sachs for Grand City Properties pushed shares in the real estate group even higher by 8 percent.
Among the secondary stocks in the SDax, Dermapharm’s shares lost one percent. According to analysts, the final figures for the first half of the year matched the previously published key data.
Source: Stern
