Before important price data, the DAX only made modest gains on Thursday. At the end of trading, the German leading index was up 0.30 percent at 18,210.55 points. This meant it remained comfortably within the range of the past two days – price fluctuations were particularly pronounced in the middle of the week. The MDax of medium-sized listed companies closed 0.15 percent higher on Thursday at 25,373.89 points.
US consumer and price data for May are on the agenda on Friday. Particular attention should be paid to the so-called PCE price index, which is the Fed’s preferred inflation measure. Deviations from expectations could trigger significant fluctuations on the stock markets, said experts from the trading platform eToro. Investors are looking for signals that inflation will be contained in the long term. Signs of persistent inflation could therefore make further price increases on the US stock markets more difficult.
Investors in Europe and the USA also remained cautious on Thursday. The Eurozone’s leading index, the EuroStoxx 50, ultimately fell by just under 0.3 percent. In London and especially in Paris, prices fell even more sharply. The New York leading index, the Dow Jones Industrial, and the technology-heavy Nasdaq 100 index, however, rose moderately at the end of European trading.
In the DAX, engine manufacturer MTU took the lead thanks to price gains of 5.6 percent, followed by the technology group Siemens and the building materials manufacturer Heidelberg Materials. The lower index positions were occupied by the automotive supplier and defense group Rheinmetall and two stocks from the pharmaceutical and consumer goods sectors, Sartorius and Beiersdorf.
In the MDax, LEG Immobilien and TAG Immobilien benefited from new buy recommendations from Deutsche Bank with price gains of 2.6 and 2.1 percent respectively.
Schott Pharma shares recovered as the leader in the small cap index SDax by 9.6 percent to 29 euros. The Mainz-based pharmaceutical supplier confirmed its medium-term goals. In recent weeks, the shares had fallen sharply and reached a record low of 25.64 euros just under a week ago.
The euro rose slightly and was last valued at 1.0708 US dollars. The European Central Bank had previously set the reference rate at 1.0696 (Wednesday: 1.0689) dollars.
There were slight losses on the bond market. The Rex bond index fell by 0.19 percent to 124.64 points. The Bund future gained 0.04 percent to 132.06 points.
Source: Stern
