On Wednesday, ahead of probably another interest rate hike by the US Federal Reserve, on Wednesday the German stock exchange shifted to a recovery course. Investors are now wondering if the Fed will raise its main interest rate by 0.50 percentage points or by just 0.75 percentage points to keep high inflation under control.
According to experts, the worst case for investors of a larger interest rate step could already have been predicted in the face of the market weakness of the last few days.
Leading index Dax up again
After six trading days with heavy losses, the leading Dax index climbed 1.36 percent to 13,485.29 points. The MDax for medium-sized equities gained 1.62% to 27,784.27 points.
The fact that the European Central Bank (ECB) wants to counteract the turmoil in the financial markets also helps to calm the recently very nervous markets. The money from the Corona Pepp contingency purchase program, which expired at the end of March, wants to be used particularly flexibly. At the same time, the Council instructed the relevant Eurosystem committees, together with the central bank, to accelerate work on a new crisis instrument.
The information about the companies resulted in significant price movements among individual shares. According to Gerresheimer circles, the manufacturer of special packaging for the pharmaceutical and cosmetics industries rejected the takeover offer because the price was too low. Investors reacted euphorically to the news that the trader believes are introducing new imaginations to the newspapers. The price jumped 15.8 percent, making the stock the clear leader in MDax.
Investors in the biofuel producer Cropenergies and parent company Südzucker were pleased that the annual targets had been raised significantly again. Cropenergies shares rose 4.4 percent and Südzucker sugar and food groups rose 7.4 percent at the top of the SDax small-cap index.
Siemens Healthineers is losing
Swedish medical technology firm Getinge’s disappointing annual targets weighed heavily on the stock price of fellow industry partner Siemens Healthineers, who clearly lost out at Dax with a 6.6 percent decline.
EuroStoxx 50, the leading euro zone index, rose by 1.64% to 3,532.32 points. The Paris Cac 40 and London FTSE 100 rose slightly less significantly. In New York City, the leading Dow Jones Industrial barometer gained 0.5% from the European close.
The euro recently cost US $ 1.0392. The ECB set the reference rate at 1.0431 (Tuesday: 1.0452) dollars. The dollar thus cost 0.9587 (0.9568) euros.
On the bond market, the current yield increased from 1.56%. the day before to 1.66 percent The Rex retirement index fell 0.36 percent to 130.82 points. The future of the Bund jumped by 1.26 percent. up to 144.36 points (dpa)