Reluctance once again prevailed on the German stock market in the middle of the week. In early Xetra trading on Wednesday, the leading index Dax fell by 0.2 percent to 14,852 points. The recovery from the previous day did not initially continue. On Monday, the leading German index slipped to its lowest level in seven months, but in the end it held important support at 14,800 points. This was followed by a small recovery on Tuesday.
Reluctance once again prevailed on the German stock market in the middle of the week. In early Xetra trading on Wednesday, the leading index Dax fell by 0.2 percent to 14,852 points. The recovery from the previous day did not initially continue. On Monday, the leading German index slipped to its lowest level in seven months, but in the end it held important support at 14,800 points. This was followed by a small recovery on Tuesday.
The MDax of medium-sized companies lost more ground than the Dax with 0.9 percent to 24,193 points on Wednesday. The Eurozone leading index EuroStoxx 50 fell by 0.5 percent.
The DAX received support from the companies’ quarterly balance sheets. In the morning, Deutsche Bank, Porsche AG, Beiersdorf and the flavor manufacturer Symrise presented their reports for the third quarter. The shares of Deutsche Bank and Symrise then led the DAX – with price gains of 7 and 2.6 percent respectively.
Beiersdorf shares also benefited from the quarterly report, gaining 0.8 percent. Thanks to good business with the Nivea and Labello brands, the consumer goods group is becoming more optimistic for the current year. The papers of Porsche AG, on the other hand, stood still after the quarterly figures.
Source: Stern
