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Frankfurt Stock Exchange: Dax just below its record high

Frankfurt Stock Exchange: Dax just below its record high

The Dax continued its winning streak on Ascension Day. It came within a few points of its record high. Slightly positive impulses came from the Chinese economy, whose exports and imports increased again in April.

Shortly after the start of trading on Thursday, the German stock market barometer rose to 18,565 points and was therefore no longer three points away from its peak reached at the beginning of April. Most recently it rose by 0.26 percent to 18,545.57 points. However, because of the holiday, sales are below average, which is why only a few orders can quickly move the Dax in one direction or the other.

The MDax of medium-sized stocks showed little change at minus 0.08 percent to 26,673.92 points. On the European stage, the EuroStoxx 50, the leading index for the euro zone, fell by 0.30 percent to 5022.84 points.

“The guidance from US trading was mixed, whereas the trading guidance from Asia was mostly positive,” said market expert Andreas Lipkow, commenting on stock market events. “The trade data from China point to a further economic recovery, which should also have an impact on German export-focused companies.”

Among the individual stocks, technology stocks were inconsistent and hardly reacted to the fact that the chip developer Arm Holdings, whose technology is in practically all smartphones, fell short of expectations with its sales forecast for the 2024/25 financial year that has just begun.

The shares of the Munich chip manufacturer Infineon rose by 1.5 percent and Süss Microtec gained 0.8 percent in the SDax. Only the shares of the supplier Aixtron weakened at minus 0.8 percent.

Renk’s shares also came to the attention of investors because they now replace Varta in the index of smaller stocks, the SDax. As announced by Deutsche Börse on Monday, the battery manufacturer was removed because it was unable to publish its audited annual financial report on time due to a hacker attack. The shares of the tank gear manufacturer Renk, which has only been listed on the stock exchange since the beginning of February, rose by 3.0 percent at the top of the index.

Source: Stern

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