With the hope of an easing of monetary policy, investors on the German stock market are still in a buying mood in the middle of the week. The leading index Dax recorded an increase of 0.44 percent to 15,683.84 points in the first hour of trading. Pleasing inflation data from the USA had given it an increase of 1.76 percent the day before.
With the hope of an easing of monetary policy, investors on the German stock market are still in a buying mood in the middle of the week. The leading index Dax recorded an increase of 0.44 percent to 15,683.84 points in the first hour of trading. Pleasing inflation data from the USA had given it an increase of 1.76 percent the day before.
The MDax of medium-sized companies gained 0.97 percent to 26,499.76 points on Wednesday. The Eurozone index EuroStoxx 50 rose by around 0.7 percent.
With inflation pressure easing in the US, investors are assuming that interest rates have peaked. Market participants will be paying attention to US retail sales for October in the afternoon. If consumption weakens, this should further support hopes of falling interest rates.
Another positive aspect is the news that the feared standstill of government business in the USA appears to have been averted. Members of the House of Representatives have approved a draft interim budget bill with the required two-thirds majority. Any approval that is still required in the Senate is considered a formality.
The DAX companies Infineon and Siemens Energy will be in focus on the local stock market on Wednesday. Siemens Energy climbed by more than eight percent after the figures for the fourth quarter and the agreement to sell shares in the India business.
After a surprisingly good year-end spurt, the chip manufacturer Infineon is confident of further growth in the new 2023/2024 financial year. Infineon wants to increase the dividend. However, CEO Jochen Hanebeck’s operating profit target is slightly below the average market estimates. Infineon recently gained almost three percent.
According to a press report, the Chinese online retail giant JD.com is talking to existing shareholders about joining Mediamarkt and Saturn parent company Ceconomy. The news catapulted Ceconomy shares by more than 14 percent.
Source: Stern
