After falling to its lowest level since November 2020, Dax successfully tried to stabilize on Wednesday. After a friendly start, the leading German index maintained its position.
Frankfurt am Main – After falling to its lowest level since November 2020, Dax successfully tried to stabilize on Wednesday. After a friendly start, the leading German index maintained its position. She crossed the finish line 1.56% higher, reaching 12,594.52 points, roughly halfway through her daily range. The MDax gained 1.40 percent to 24,979.41 points.
After Dax dropped to 12,390 points from the previous day, investors were initially encouraged to take action again. To some extent, European exchanges followed the recovery in the US technology exchanges of the previous day. The fact that the New York Stock Exchanges started trading with mixed results on Wednesday did not detract from profits.
For weeks, investors have been concerned that Europe’s heavy dependence on Russian natural gas supplies makes it particularly vulnerable to the energy crisis which, combined with high inflation and rising interest rates, could trigger a recession. Hence, experts are questioning the sustainability of the recovery again.
Technology stocks were also among the biggest gains in Europe on Wednesday. Shares of chip company Infineon and semiconductor supplier Aixtron were among the favorites of investors with 4.5 and 5.4 percent, as were various software companies such as SAP, with a plus of 2.8 percent.
Various online values are also assigned to the tech sector in the Dax index family. Sometimes the industry supplied fantasy food due to Just Eat Takeaway and Amazon working together. The recovery rally at meal kit supplier Hellofresh continued with an increase of 6.2 percent.
In Delivery Hero, however, the course, which had been run for a long time, turned negative late, having recently lost 4.1%. In the afternoon it became known that the European Commission searched the offices of Delivery Hero and other courier companies. The company stressed that it could not be inferred from the mere fact of the Commission’s investigations that Delivery Hero was actually involved in such practices.
A clearer increase of 10.6 percent. was recorded among the online values for in-store pharmacies. The shares continued the recovery from the day before, while being included in Baader Bank’s “Top Stock Ideas” list.
Adidas at the end of Dax
At the end of Dax, Adidas shares found themselves following a skeptical comment from Hauck Aufhäuser Investment Banking analyst. The sporting goods group’s papers managed to reduce their price losses to one percent. Analyst Christian Salis believes the company’s annual targets are under threat due to slump in consumption and pressure on margins and reversed his earlier buy recommendation.
With a 14 percent jump in price, Morphosys continued to positive in SDax. A study by Canadian analyst RBC on strategic options for US partner Incyte led to speculation on a share acquisition on Wednesday.
EuroStoxx rose by 1.85 percent on Wednesday, while in Paris the Cac 40 rose by a good two percent. London’s FTSE 100 gained 1.2 percent. In New York, the Dow Jones Industrial was temporarily positive, but has recently fallen by half a percent.
On Wednesday, the euro was at the same price as it was at the end of 2002, with the last trading being $ 1.0169. The European Central Bank set the reference rate at 1.0177 (Tuesday: 1.0290) dollars. The dollar thus cost 0.9826 euro.
The current yield of the German Bunds fell from 1.14 percent. the previous day to 1.05 percent. Meanwhile, the Rex retirement index rose 0.46 percent to 134.99 points. The future of the Bund has recently increased by 0.43% to 151.63 points.