Dax goes to 14,500 points | Free press

Frankfurt am Main.

The German stock market was strong on Thursday. Powered by cyclical stocks and tech actions, Dax closed the trading 1.01 percent higher to 14,485.17 points. MDax rose 1.63 percent to 30,234.24 points.

Initially spurred by the falling oil price, investors during the day digested the oil price reversal and the sales warning from the US software giant Microsoft. Investors also coped well with quite disappointing economic data from the US.

In New York, the Dow Jones Industrial recovered earlier losses, while the Nasdaq indices rose sharply. It also helped technology campaigns in Germany the day before the US labor market report.

The markets have focused primarily on the Opec + oil alliance, which intends to significantly accelerate production increases in the summer to compensate for Russia’s losses in the oil market.

While stocks from the tech sector such as the Infineon chip group and the Delivery Hero food delivery service grew by as much as 4.5 percent, investors have renewed their interest in cyclical sectors such as the friendly automotive sector. Here, BMW shares rose 1.8 percent.

Dax’s big winners also included the mainly consumer sporting goods groups, most notably Puma with an increase of 3.8 percent. Adidas shares gained 2.3 percent. They were recently listed in the Stoxx Europe 50 index as a candidate for relegation, but for the time being they will remain in the leading pan-European index.

Wacker Chemie, Aixtron and Telefonica Germany, on the other hand, are included in another European index that may attract the attention of international investors. These three stocks will soon be included in the broad Stoxx Europe 600 index. Of the three values, Wacker was particularly noticeable with an increase of 2.4 percent.

Bigger winners came from the steel industry – headed by Salzgitter. On the day of the General Meeting, they increased by 5.7%, despite the fact that the head of the company Gunnar Groebler prepared investors for “a very demanding second half of the year”. Shareholders should get 75 cents a share – this is the highest salary since 2008.

EuroStoxx 50 followed Dax up 0.95 percent to 3,795.13 points. Compared to the European index, the Paris Cac 40 recorded a fairly significant increase of 1.3%. There was no trade in London.

The euro rose during the day, recently trading at USD 1.0733. The European Central Bank set the reference rate at USD 1.0692 (Wednesday: 1.0712). So the dollar cost 0.9353 euro.

On the bond market, the current yield increased from 1.02%. the day before to 1.10 percent The Rex retirement rate fell 0.41 percent to 134.49 points. The future of the Bund lost 0.52 percent. up to 150.17 points (dpa)

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