The German stock market presented a mixed performance on Thursday. While the standard stocks tended to increase slightly, the securities from the second and third rows mostly posted losses. Important economic data from the Eurozone had little impact on prices. Due to the Thanksgiving holiday in the USA, late trading is likely to remain quiet because there is a lack of impulses from New York.
The German stock market presented a mixed performance on Thursday. While the standard stocks tended to increase slightly, the securities from the second and third rows mostly posted losses. Important economic data from the Eurozone had little impact on prices. Due to the Thanksgiving holiday in the USA, late trading is likely to remain quiet because there is a lack of impulses from New York.
The Dax rose to its daily high in the afternoon and narrowly missed the hurdle of 16,000 points, which has not been exceeded since the end of August. Most recently, the leading index was 0.21 percent higher at 15,991.06 points. The MDax of medium-sized companies fell by 0.44 percent to 26,020.52 points. The Eurozone index EuroStoxx 50 gained around 0.1 percent.
The debate over the Karlsruhe budget ruling caused the shares of the defense companies Rheinmetall and Hensoldt to fall by 1.7 and 2.0 percent respectively. The reason for the price weakness was a report in the “Augsburger Allgemeine”, according to which the Federal Ministry of Finance had also blocked the Ministry of Defense from funds from the Bundeswehr special fund following the ruling. However, the finance and defense ministries denied this reading.
At plus 0.7 percent, SAP shares reacted very little to the news that Deutsche Börse wants to raise the so-called cap limit for the DAX indices from 10 to 15 percent in the spring. SAP currently has the highest weighting in the leading index at just over 10 percent. Raising the cap limit would give the share more leeway. Stock funds that replicate the DAX then have to buy SAP shares in order to reflect the company again. This is likely to create additional demand for the software developer’s papers on the market.
Kion’s titles lost 3.6 percent as the bottom of the MDax. The investment bank Stifel had previously canceled its buy recommendation for the storage technology manufacturer. Delivery Hero shares benefited from a buy recommendation from UBS and rose by 0.9 percent.
The euro last cost 1.0902 US dollars. The European Central Bank (ECB) set the reference rate the day before at $1.0911. On the bond market, the current yield rose from 2.59 percent the day before to 2.60 percent. The Rex bond index fell by 0.06 percent to 124.02 points. The Bund future fell by 0.28 percent to 130.83 points.
Source: Stern
