Under the influence of continued decline in inflation in the euro area and weak Chinese economic data, the DAX rose on Tuesday. Once again, however, the hurdle of 14,800 points proves to be tough resistance. Around midday, the leading German index recorded an increase of 0.56 percent to 14,799 points.
Under the influence of continued decline in inflation in the euro area and weak Chinese economic data, the DAX rose on Tuesday. Once again, however, the hurdle of 14,800 points proves to be tough resistance. Around midday, the leading German index recorded an increase of 0.56 percent to 14,799 points.
The MDax for medium-sized companies rose by 0.98 percent to 24,078 points. The Eurozone leading index EuroStoxx 50 gained 0.9 percent.
In China, the mood in large and state-owned industrial companies there deteriorated in October. China’s stock markets were weak on Tuesday.
However, there were positive signals from the euro zone, where inflation weakened more significantly in October than analysts had expected.
The chemical company BASF and the diagnostics specialist Qiagen published quarterly figures from the Dax. BASF suffered a quarterly loss due to its oil and gas subsidiary Wintershall and also became more cautious for 2023. The shares still rose by 4.1 percent at the top of the Dax. The more cautious outlook for the year was an open secret, traders said. BASF also wants to reduce costs even more in the coming years than previously planned.
Meanwhile, after a surprisingly good quarter, Qiagen sees itself on track to achieve the annual targets it lowered in the summer. The shares gained 3.5 percent.
The quarterly figures for the online pharmacy Redcare Pharmacy were well received in the MDax, although the increase recently fell to 2.8 percent. Baader Bank spoke of a very strong quarterly report from the MDax Group. The shares of the braking system manufacturer Knorr-Bremse rose by 2.1 percent.
The securities of the software company Teamviewer made up for their initial losses and gained 1.1 percent. Market participants praised the margins in the third quarter, but questioned the invoicing.
The shares of Klöckner & Co defied a profit warning. After the steel trader’s shares fell to their lowest level since November 2020 the day before, they have now recovered by 4.2 percent.
Source: Stern
