After its recent decline, the Dax has initially settled at the level of the end of March. The leading German index was slightly in the red at 15,250.58 points early on Wednesday afternoon. On Monday and Tuesday, the stock market barometer lost almost 2 percent.
After its recent decline, the Dax has initially settled at the level of the end of March. The leading German index was slightly in the red at 15,250.58 points early on Wednesday afternoon. On Monday and Tuesday, the stock market barometer lost almost 2 percent.
The MDax of medium-sized stocks rose by 0.24 percent to 25,736.86 points on Wednesday. The Eurozone leading index EuroStoxx 50 rose by 0.2 percent after a cautious start.
Reassuring signals came from the USA: a few days before an impending shutdown of government business, the Senate proposed a compromise in the budget dispute. This would guarantee the financing of the federal authorities at least until November 17th and avert the impending “shutdown”.
At the top of the DAX, shares in the industrial group Siemens rose by 3.1 percent. “No news is good news,” is how JPMorgan analyst Andrew Wilson summarized his last company contact before the quarterly report. There are no changed signals, not about the business, not about the industry trends and not about the prospects. Wilson considers this to be very important news, especially given the recent price losses.
In the SDax small cap index, KWS Saat shares rose by 6.8 percent. Due to good business in all segments, the seed manufacturer exceeded expectations for the past financial year. The outlook was also a positive surprise.
The euro remained battered, trading at $1.0537 in the afternoon. The European Central Bank set the reference rate on Tuesday at 1.0605 (Monday: 1.0633) US dollars. The dollar therefore cost 0.9429 (0.9404) euros.
On the bond market, the current yield fell from 2.82 percent the day before to 2.80 percent. The Rex bond index rose by 0.07 percent to 122.71 points. The Bund future gained 0.23 percent to 129.09 points.
Source: Stern
