The ongoing hopes for an easing in monetary policy continued to drive the Dax on Wednesday. At the end of trading, the leading German index gained 0.86 percent to 15,748.17 points. The MDax of medium-sized companies ultimately rose by 0.80 percent to 26,454.60 points.
The ongoing hopes for an easing in monetary policy continued to drive the Dax on Wednesday. At the end of trading, the leading German index gained 0.86 percent to 15,748.17 points. The MDax of medium-sized companies ultimately rose by 0.80 percent to 26,454.60 points.
“The year-end rally is underway,” said the Bernecker letter to shareholders. “Investors who had previously hesitated had to realize by Tuesday afternoon at the latest that the market had now developed an upward dynamic that simply could no longer be ignored.”
After the surprisingly weak US consumer prices the day before, the producer prices published in the middle of the week showed a similar picture. In addition, the news that the renewed feared standstill of government business in the USA appears to have been averted for the time being supported prices.
The upward trend on the European stock markets also continued on Wednesday. The Eurozone leading index EuroStoxx 50 ended trading 0.6 percent higher. Things also picked up somewhat in Paris and London. The US leading index Dow Jones Industrial was moderately positive at the end of European trading.
In the Dax, Siemens Energy gained 8.9 percent in second place on the index, continuing the recent recovery. Before Siemens Energy, Infineon’s shares rose by a further 9.7 percent. After a surprisingly good year-end spurt, the chip manufacturer is confident of further growth in the new financial year and wants to increase the dividend.
At the top of the MDax, the food delivery service Delivery Hero and the wind and solar park operator Encavis continued their recovery – with price gains of 5.1 and 3.6 percent respectively.
The clear leader in the SDax small cap index was Ceconomy with a price jump of 16.7 percent. According to a press report, the Chinese online retail giant JD.com is talking to existing shareholders about joining the Mediamarkt and Saturn parent company.
Real estate stocks paid tribute to their previous day’s rally with some significant losses. According to the figures, Grand City Properties still held up comparatively well with minus 1.1 percent in the SDax. Vonovia fell by 1.8 percent at the end of the DAX.
The euro came under slight pressure after the US data in the afternoon and last cost 1.0851 US dollars. The European Central Bank (ECB) set the reference rate at $1.0868.
On the German bond market, the current yield fell from 2.72 percent the day before to 2.61 percent. The Rex bond index rose by 0.56 percent to 124.26 points. The Bund future fell by 0.44 percent to 130.41 points.
Source: Stern
