Dax is rising – US inflation is slowing down only for a moment | Free press

Frankfurt am Main.

The German stock market was only temporarily disturbed by the Wednesday’s US inflation data.

After the indices initially quickly gave up on significant price increases after the data, they rebounded just as quickly and reached the daily highs. The leading Dax index moved up 2.17 percent to 13,828.64 points. MDax midsize stocks gained 2.09 percent. up to 28 613.42 points.

The data continues to show high inflationary pressure in the United States, where inflation stood at 8.3%. month to month, which was more than the analysts expected. However, it was less than the increase of 8.5% in the previous month.

Bayer investors were not able to take advantage of the optimistic moods on the stock market. The agrochemicals group failed in a legal dispute over alleged cancer risks associated with herbicidal glyphosate. Stocks that had been boosted by strong numbers the day before fell 6.2 percent at the end of the Dax.

In the middle of the week, there was also a legal dispute in Allianz. The news about additional provisions related to it, however, did not affect the insurer’s price. On the contrary: newspapers gained 5.9 percent on the top of the Dax. According to the group, the regulations do not affect the dividend policy.

In MDax, Thyssenkrupp shares had the best value with an increase of 11.2 percent. The steel and industrial group fared better than expected in the second fiscal quarter, then raised its operating indicators for this year.

On the other hand, Evotec fell 10.6 percent after the quarterly data. The strong recovery from the previous day is over. Following the announcement the previous day of a $ 200 million advance payment of an enhanced partnership with Bristol-Myers Squibb, the market could expect a more optimistic outlook for this year, according to investment house Stifel.

At SDax, Shop Apotheke shares picked up again in late trading to a 19 percent profit. One vendor cited the September e-prescription report as the reason. The day before, titles fell by a fifth after reports that the introduction of e-prescription may be even further delayed. Industrial service provider Bilfinger continued to fall minus 12.8% as the lower end of the small cap index, in line with business data.

According to US inflation data, EuroStoxx 50 behaved similarly to Dax and ended trading by 2.62%. higher, reaching 3647.87 points. Significant increases were also recorded in Paris and London.

The euro recently cost 1.0538 euro. The European Central Bank (ECB) set the reference rate at 1.0553 (Tuesday: 1.0554) dollar in the afternoon, so the dollar was worth 0.9476 (0.9475) euro. In the bond market, the Rex bond index rose by 0.50 percent. up to 136.00 points However, the current profitability fell to 0.82 percent. from 0.91% the previous day. The future of the Bund increased by 0.37 percent. up to 153.21 points (dpa)

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