The German stock market did not find a consistent direction on Tuesday. While the majority of standard stocks in the Dax rose, papers from the second and third rows mostly posted losses.
The German stock market did not find a consistent direction on Tuesday. While the majority of standard stocks in the Dax rose, papers from the second and third rows mostly posted losses.
The DAX rose by 0.23 percent to 15,937.73 points in the late morning. The MDax of medium-sized companies, however, fell by 0.81 percent to 26,181.83 points. The Eurozone index EuroStoxx 50 stagnated.
New trial data for the cancer drug pelabresib caused Morphosys’ share price to fall to its lowest level since the beginning of April. The shares were recently down 24 percent and have therefore lost around half of their value in the last eight trading days. The cancer drug showed weaknesses in the study, explained analyst Rajan Sharma from Goldman Sachs.
New targets by 2026 gave the share price of the defense company and automotive supplier Rheinmetall an increase of up to 5.8 percent and another record high of 295 euros. Most recently, the papers at the top of the Dax rose by 5.2 percent. Rheinmetall wants to be more profitable by 2026 than previously expected.
Source: Stern
