Nothing could stop the Dax from reaching its sixth record high in a row this Wednesday before Easter. In the afternoon, the leading index climbed above 18,500 points for the first time and closed with an increase of 0.50 percent at 18,477.09 points.
Nothing could stop the Dax from reaching its sixth record high in a row this Wednesday before Easter. In the afternoon, the leading index climbed above 18,500 points for the first time and closed with an increase of 0.50 percent at 18,477.09 points.
This increased the profit since the beginning of the year to more than 10 percent. The MDax of medium-sized companies climbed to its highest level since the beginning of January in mid-week trading and ended 0.82 percent higher at 27,091.95 points.
“The DAX is currently in a phase of price acceleration,” said financial market expert Andreas Lipkow. Especially with a view to the approaching end of the quarter, more and more market participants are being drawn into the market. However, the Dax is now overheated.
Investors could take profits
Analyst Jochen Stanzl from broker CMC Markets also urged caution. He referred to the publication of the inflation indicator, which is important for the US Federal Reserve, on Good Friday, when the stock markets are closed and share prices can only react to this after Easter. This means there is a risk of a price gap over the long weekend. Stanzl therefore believes it is possible for investors to take profits beforehand. But so far the opposite has been the case, prices have continued to rise.
The Eurozone leading index EuroStoxx 50 rose by around 0.4 percent. The French Cac 40 also rose moderately, while the British FTSE 100 stagnated. In New York, the Dow Jones Industrial gained around 0.7 percent at the European market close.
Individual values
In the Dax, behind the 4.5 percent higher shares of the online fashion retailer Zalando and the pharmaceutical and agricultural chemicals group Bayer with a plus of 4.1 percent, the shares of Deutsche Bank were in third place with a premium of 2.7 percent. The market underestimates the institute’s earnings dynamics and cost progress, wrote analyst Giulia Aurora Miotto from Morgan Stanley and upgraded the shares to “overweight”.
Optimistic signals and the higher dividend continue to have an impact at CTS Eventim. In the meantime, several analysts increased their price targets for the ticket retailer and organizer’s shares. In doing so, they drove the shares to a record high. Ultimately, there was an increase of 5.3 percent.
Aroundtown completed a brilliant turnaround from the daily low to the daily high and gained 15.6 percent as the leading value in the MDax. The commercial real estate group expects a significant decline in operating results this year. Due to the difficult situation, there will be no dividend for the past year. A trader said that the 2024 forecast was at least within expectations. In addition, the market had already expected the loss of the dividend.
Among the bullish armaments stocks, Renk jumped by almost 11 percent according to the figures. At Rheinmetall, investors took profits after the latest record rally, resulting in a loss of 1.8 percent. Hensoldt’s recent high also ended for the time being. The shares of the defense electronics specialist fell by 0.7 percent.
Rational shares gained 4.4 percent. The commercial kitchen outfitter’s outlook was well received on the market. The long-standing MDax member’s shares are currently not listed in any index, but are expected to return soon.
A buy recommendation from HSBC drove up the shares of carbon fiber specialist SGL Carbon by 6.8 percent.
The euro was last traded at $1.0823. The European Central Bank (ECB) set the reference rate at $1.0816 in the afternoon.
On the bond market, the current yield fell from 2.40 percent the day before to 2.39 percent. The Rex bond index rose by 0.06 percent to 125.26 points. The Bund future gained 0.47 percent to 133.42 points.
Source: Stern