Dax only moderately up From dpa-AFX


© Reuters.

FRANKFURT (dpa-AFX) – It remained on the stabilization course for the third day in a row on Tuesday. While the American stock exchanges (ETR 🙂 returned strongly after the summer holidays and thus caught up with the positive start of the week on other stock exchanges, the increase in Frankfurt was only moderate.

The leading German index increased by 0.20 percent. to 13,292.40 points and gained 0.11%. up to 27 512.54 points At the same time, the industry grew 1.8 percent and the stocks of technology companies in New York City were even stronger.

“Investors don’t trust Wall Street rally,” said market analyst Jochen Stanzl of CMC Markets (LON :). He referred to the painful experience that over the past few weeks, strong US trade had resulted in price drops. The expert assessed the increase in prices in New York as a “short crush”, ie caused by the purchases of investors, who have recently been very one-sided downwards.

Craig Erlam of the Oanda broker is also concerned that the last turbulent weeks on the stock market are not over yet. “The rest of the summer will probably bring even more,” the expert fears. “Everyone is looking for bottom, but there is a lot of uncertainty about the prospects,” he said. So far, there are no fundamentally encouraging signs.

The main problems in the markets remain extremely high inflation and the measures taken by global central banks in the form of interest rate hikes. Last week, Dax barely managed to stay at 13,000 points and lost more than ten percent from the high of around 14,700 points eight days earlier. On the other hand, it is now plus 2.2 percent on three friendly trading days.

Dax on Tuesday was supported by car stocks that were friendly in a lively international stock market environment, such as price increases from 1.2 to 1.9 percent in BMW (ETR :), Mercedes-Benz (ETR :), Volkswagen (ETR: ) and VW Holding Porsche (ETR 🙂 showed. On the other side of the index, however, they focused on individual companies with negative news.

Bayer shares (ETR 🙂 fell 2.1%. Disappointment spread here as the US Supreme Court rejected the Dax group’s request to rule the case in a protracted dispute over alleged cancer risk in herbicides containing glyphosate. The rejection didn’t really come as a surprise, so the initial strong reaction faded over time. Analyst Richard Vosser of the US bank JPMorgan (NYSE 🙂 also believes in the short-term damper.

Things were even worse with Fresenius Medical Care (ETR 🙂 (FMC), also due to a US Supreme Court ruling, albeit against US competitor Davita. It raises concerns about the level of dialysis revenues for some patients. In Dax, FMC’s stake declined nine percent. This also charged the shares of the parent company Fresenius (ETR 🙂 almost five percent.

Shares fell among German small caps Nordex (ETR 🙂 by more than seven percent. In the generally weak environment for energy stocks (NYSE :), investors were particularly concerned about the cloudy key figures for the first quarter with the recorded entry into the operating loss zone. Newspapers that dropped recently lost as much as 13 percent at the top.

The topic of the talks was also the Internet broker Flatexdegiro (ETR :), which, due to business development, expects a decrease in customer activity this year. However, this share still relativized the significant losses to minus 1.5%. Analyst Charles Mayne has significantly lowered the target price from € 32 to € 20, but still sees the potential to double.

In an overall favorable environment, the euro has appreciated somewhat. Recently, it was $ 1.0549. Meanwhile, the European Central Bank set the reference rate at $ 1.0550 (Monday: 1.0517).

On the bond market, the current yield rose from 1.55% on Tuesday. the day before to 1.64 percent The pension index fell by 0.41 percent. up to 131.09 points An increase of 0.03% up to 143.33 points

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