Without the US markets as a source of inspiration, things remained quite quiet on the German stock exchange on Thursday. In a market environment with low sales, the DAX briefly managed to jump above 16,000 points. However, the leading index quickly came back and ultimately closed 0.23 percent higher at 15,994.73 points. The MDax of medium-sized companies fell by 0.13 percent to 26,101.25 points. The Eurozone index EuroStoxx 50 gained 0.21 percent to 4361.32 points. The national stock exchanges in Paris and London also rose moderately.
Without the US markets as a source of inspiration, things remained quite quiet on the German stock exchange on Thursday. In a market environment with low sales, the DAX briefly managed to jump above 16,000 points. However, the leading index quickly came back and ultimately closed 0.23 percent higher at 15,994.73 points. The MDax of medium-sized companies fell by 0.13 percent to 26,101.25 points. The Eurozone index EuroStoxx 50 gained 0.21 percent to 4361.32 points. The national stock exchanges in Paris and London also rose moderately.
Economic data from the Eurozone was hardly moving. Sentiment among Eurozone companies improved surprisingly significantly in November, according to the S&P Global Purchasing Managers’ Index. Economists still expect the euro economy to slip into recession. In the USA, Wall Street was closed for the Thanksgiving holiday. On Friday there is also only a shortened period of trading.
Among the individual values, attention was primarily directed towards SAP. The software provider’s shares rose by 1.0 percent. In the spring, Deutsche Börse wants to raise the cap on a company’s weighting in the DAX, MDax, SDax and TecDax from 10 to 15 percent. This is intended to increase awareness of the large corporations among investors. The aim is also to prevent companies from migrating to other stock exchanges, as the industrial gas manufacturer Linde did in the spring.
As things stand, this change is particularly positive for SAP. The share, which has risen by almost 50 percent so far this year, actually has an index weight of more than ten percent. But so far, caps have been regularly applied here and everything above 10 percent is not taken into account.
As one of the weakest DAX stocks, Rheinmetall shares fell by 1.9 percent. Hensoldt fell by 2.5 percent in the MDax. A report in the “Augsburger Allgemeine” was incriminating here. Accordingly, following the budget ruling of the Federal Constitutional Court, the Federal Ministry of Finance has also blocked the Ministry of Defense from receiving funds from the Bundeswehr special fund, it was said. The finance and defense ministries denied this.
The euro was trading at $1.0906 in the early evening. The European Central Bank set the reference rate at 1.0900 (Wednesday: 1.0911) dollars. The dollar therefore cost 0.9174 (0.9165) euros.
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 0.46 percent to 130.60 points.
Source: Stern
