Strong US stock exchanges push Dax further up | Free press

Frankfurt am Main.

Dax ended the holiday trading on Ascension Day on Thursday with clear gains. The leading German index closed up 1.59 percent to 14,231.29 points, using Wall Street’s strong specs just like the day before.

The most important German stock market barometer may therefore leave behind a downward trend that has continued since January. So far, Dax has lacked the strength to do so in many attempts as concerns about the economy and inflation, coupled with rising interest rates, have slowed price developments.

On Thursday, MDax also said goodbye to medium-sized companies, which increased by 1.11 percent. up to 29,430.27 points

The minutes of the US central bank’s meeting, published the previous evening, also calmed the situation in Germany. This did not come as a major surprise due to even faster rate hikes by monetary watchdogs to combat high inflation. “Investors see the Fed’s statements as a commitment to a gradual tightening of monetary policy,” noted Edward Moya of Oanda broker.

Investors were also relieved to see the strong performance and upbeat statements from some US retailers that contrasted with reports from major competitors such as Walmart and Target released last week. Conversely, they were not scared by the disappointing sales forecasts compiled by the US chip specialist Nvidia, or the circulating report that Apple’s iPhone sales will stagnate this year.

On the Dax team, the Bayer newspapers gained 3.3 percent in the top index. Citigroup analyst Peter Verdult was very optimistic about the sales prospects of the drug candidate Asundexian. Zalando’s online clothing store shares rose by more than ten percent in the top spot in the Dax ranking, with Hellofresh, the meal box sales and food delivery service Delivery Hero, grew by more than six percent and more than nine percent, respectively. However, this shouldn’t be anything more than another attempt to hit the bottom at a low price point right now.

Freenet at MDax gained 4.6 percent, plus from Goldman Sachs double “sell” to “buy” switch. According to analyst Andrew Lee, the mobile provider offers investors a rare combination of growth and high dividends. As one of the best figures in SDax, shares of the online used car dealer Auto1 rose 6.4% against surprisingly strong results from UK competitor Auto Trader.

Some securities were sold with a dividend cut on the holiday and therefore looked weak. At MDax, the chemical companies Evonik and Lanxess, as well as the car rental company Sixt, the leasing specialist Grenke and the IT company Secunet were affected.

Stock markets across Europe continued their recovery mid-week. The leading European EuroStoxx 50 index rose 1.72 percent to 3,740.31 points. The Paris Cac 40 grew at a similar pace, while in London FTSE 100 gains were much more moderate. At the end of trading in Europe, New York’s Dow Jones Industrial gained almost 1.5 percent.

The euro rose and was recently traded at USD 1.0720. The European Central Bank set the reference rate at 1.0697 (Wednesday: 1.0656) dollar in the afternoon, while the dollar was traded at 0.9348 (0.9384) euro. The future of the Bund decreased by 0.34 percent. up to 153.39 points (dpa)

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