On Wednesday, the Dax gave up most of its gains, which had meanwhile been quite significant.
On Wednesday, the Dax gave up most of its gains, which had meanwhile been quite significant.
With the US stock exchanges somewhat weaker, the recovery for the leading German index quickly came to an end in the afternoon. After rising to almost 15,900 points, a plus of 0.24 percent to 15,809.72 points remained at the end of the day.
The MDax of medium-sized stocks slipped again and closed with minus 0.06 percent at 34,134.39 points. The fear of rising interest rates remains the main topic on the market. “The inflation and interest rate concerns will not go away anytime soon,” predicted analyst Craig Erlam from broker Oanda. The stock markets are probably not immune to further pain.
Some of the stocks in the technology, online trading and health sectors that were particularly penalized recently recovered significantly in the middle of the week. Zalando gained 3.4 percent at the top of the Dax. Sartorius followed with plus 2.2 percent and Hellofresh with plus 2.1 percent. The DZ Bank upgraded the papers of the cook box sender to “buy”. According to the reasoning, market sentiment for Hellofresh is currently too negative. Towards the end of trading, vague takeover speculation flared up again about Qiagen, and the shares gained two percent.
Aurubis is more optimistic for the year as a whole after a strong jump in profits in the first quarter and due to higher selling prices for metals and sulfuric acid. The papers of the copper smelter jumped 7.8 percent at the top of the MDax and reached a record high over the course of the year.
In contrast, the chart picture for Varta continued to cloud over significantly. The papers of the battery group fell below the support at 100 euros and closed 7.1 percent lower. The shares of the fertilizer manufacturer K+S went down by 6.7 percent after their steep rise so far this year.
The car supplier and cable manufacturer Leoni, whose shares fell by 10.6 percent, made a negative impression on itself. Searches by the Federal Cartel Office ensured that the downward trend accelerated considerably. Against the background of possible penalties and potential customer claims, Warburg analyst Marc-René Tonn referred to the already tense financial situation of the company.
The EuroStoxx 50, the leading index in the euro zone, advanced by 0.25 percent to 4268.28 points. The French Cac 40 and the UK FTSE 100 also closed modestly higher. In New York, the Dow Jones Industrial was just in the red at the close of the European stock market. The tech-heavy Nasdaq 100 also fell.
The euro recovered somewhat from the previous day’s losses. After the Xetra close, the common currency cost 1.1345 US dollars. The European Central Bank (ECB) had previously set the reference rate at 1.1345 (Tuesday: 1.1367) dollars, the dollar thus cost 0.8815 (0.8797) euros. On the bond market, the current yield rose from minus 0.15 percent on the previous day to minus 0.13 percent. The Rex pension index fell by 0.06 percent to 143.13 points. The Bund future rose by 0.09 percent to 169.48 points.
Source From: Stern

Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.