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Frankfurt Stock Exchange: Slight gains in the Dax after a setback the day before

Frankfurt Stock Exchange: Slight gains in the Dax after a setback the day before

After losses on Tuesday, the Dax rose moderately in the middle of the week with overall thin trading volumes. On Wednesday morning, the leading German index rose by 0.24 percent to 18,327.40 points. At the same time, the MDax fell by 0.25 percent to 26,708.70 points. The EuroStoxx 50, the leading index of the Euroregion, gained 0.27 percent to 5055.69 points.

After losses on Tuesday, the Dax rose moderately in the middle of the week with overall thin trading volumes. On Wednesday morning, the leading German index rose by 0.24 percent to 18,327.40 points. At the same time, the MDax fell by 0.25 percent to 26,708.70 points. The EuroStoxx 50, the leading index of the Euroregion, gained 0.27 percent to 5055.69 points.

The day before, the first day of trading after the long Easter weekend, the Dax had set another record at 18,567 points. At the close of trading, however, there was a loss of just over one percent. Concerns had returned that interest rates in the USA could remain high for longer than previously hoped. The trigger was economic data at Easter time, which pointed to a strong US economy.

Therefore, the US labor market data will now be assessed carefully this afternoon. The March statistics on employment in private industry will be published. It is considered an important indicator for the official labor market report, which represents the economic peak of the week on Friday.

But attention is also focused on the consequences of an earthquake in Taiwan. The strongest earthquake in 25 years on the east coast of the island state is bringing the issue of supply chains back into focus. “Taiwan is the world leader in chip production,” said Landesbank Baden-Württemberg. “The most important Taiwanese semiconductor manufacturer TSMC temporarily stopped production due to the earthquake.”

Among the individual stocks in this country, Infineon rose by 1.5 percent at the top of the DAX thanks to a positive analyst study. The US bank Morgan Stanley had upgraded the chip manufacturer’s shares to “overweight” and raised the price target by 5 euros to 40 euros.

Daimler Truck’s stock, on the other hand, was at the bottom of the DAX with a loss of 2.7 percent, and shares of other European commercial vehicle manufacturers also fell. They suffered as US truck orders fell to their lowest level in seven months.

Source: Stern

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