After Iran’s attack on Israel, investors are betting on de-escalation in the Middle East. The Dax initially recovered significantly on Monday to almost 18,200 points because Wall Street also initially supported it. Ultimately, at the close of trading there was only an increase of 0.56 percent left to 18,026.58 points. The MDax of medium-sized stock exchange stocks fell by 0.49 percent to 26,447.14 points on Monday.
After Iran’s attack on Israel, investors are betting on de-escalation in the Middle East. The Dax initially recovered significantly on Monday to almost 18,200 points because Wall Street also initially supported it. Ultimately, at the close of trading there was only an increase of 0.56 percent left to 18,026.58 points. The MDax of medium-sized stock exchange stocks fell by 0.49 percent to 26,447.14 points on Monday.
In New York, the stock exchanges only rose slightly after the European stock market closed. The EuroStoxx 50, the leading index of the euro zone, gained 0.59 percent to 4984.48 points. There were moderate gains in Paris and slight losses in London.
Strong US retail sales temporarily brightened the mood in the afternoon, as they underpin a robust US economy. But the data also means that investors will probably have to lower their expectations of imminent interest rate cuts again. Unchanged key interest rates are not a catastrophe once the market has come to terms with the fact that we will have to wait for interest rate cuts, said Chris Iggo, head of investments at Axa Investment Managers. “But things would be different if there was an increase.”
The Middle East conflict caused a certain amount of nervousness on the trading floor, but investors have so far reacted quite calmly. There was also relief that Iran’s attack on Israel was not more violent and that Iranian missiles could be intercepted.
A positive investment recommendation from the US bank Morgan Stanley for Adidas gave the sporting goods manufacturer’s shares at the top of the DAX an increase of 4.2 percent. Expert Edouard Aubin highlighted the increasing growth momentum, which more than offsets the risks of the investment story.
An adjusted profit forecast for 2024 threw Lufthansa shares back in the MDax and to the bottom of the index with minus 4.6 percent. The many strikes in air transport are thwarting the airline’s profit plans.
In the SDax, Südzucker lost 3.1 percent. After a dismal start to the new financial year, the sugar company is expecting a significant decline in profits. Varta fell by a further 8.4 percent in the small cap index after losses of just over 30 percent on Friday. Before the weekend, the battery manufacturer described its own restructuring concept as inadequate and needed money again.
One euro cost $1.0643 after the market closed. The European Central Bank (ECB) set the reference rate in the afternoon at 1.0656 (Friday: 1.0652). The dollar therefore cost 0.9384 (0.9387) euros.
The current yield on the bond market remained at 2.43 percent. The Rex bond index rose by 0.10 percent to 125.05 points. The Bund future recently lost 0.60 percent to 131.71 points.
Source: Stern
