Dax finally clearly surged on Thursday following a fickle trading course. As the US stock markets stabilized, which started weakly, the leading German index increased its gains in the afternoon.
It closed 0.88 percent at 13,282.11 points, just ahead of its daily high. MDax for medium-sized companies increased by 1.26 percent. to 26 824.51 points. The Eurozone leading EuroStoxx 50 index rose by 1.23 percent to 3,652.20 points.
The French Cac 40 also saw significant gains, while the British FTSE 100 closed almost unchanged. In the US, at the end of trading in Europe, the leading Dow Jones Industrial index and the high-tech Nasdaq 100 rose by a good half and 0.2 percent, respectively.
The fact that the US economy unexpectedly contracted for the second consecutive quarter and thus fell into recession chilled investors in the German market by definition. According to experts, statements by the US Federal Reserve that the pace of monetary tightening may be slightly reduced in the future, supported share prices. The new inflation data from Germany showed that inflation in Germany weakened slightly in July.
The reporting season started on Thursday with the next round. At the end of Dax, the dialysis shares of the healthcare group Fresenius SE and its subsidiary Fresenius Medical Care (FMC) were under severe pressure. Due to problems with FMC, Fresenius lowered its forecast. The FMC is suffering from a deepening labor shortage in the United States, which is likely to create bottlenecks in healthcare services. Fresenius fell more than eight percent to the level of the Corona disaster in March 2020. FMC fell to its lowest level since 2010, ending a decline of more than 14 percent.
Increased profit targets have allowed Linde’s gas group titles to grow by more than two percent. Volkswagen saw profits surge in the first half of the year, despite delivery problems with microchips and corona restrictions in China. The manufacturer maintained its overall forecasts for this year. The advantages listed in Dax gained more than three and a half percent at the top of the index.
Meanwhile, the dealer described the aircraft manufacturer Airbus’s second quarter as mixed at best. Profitability was disappointing, supply chain problems presented the group with challenges. Newspapers lost almost three percent.
Numerous companies from the MDax and SDax small companies index were also in the spotlight with their quarterly data. For example, Wacker Chemie gained over ten percent as the best MDax value. The group benefited from strong demand and price increases and raised its forecast. Commercial vehicle supplier SAF-Holland’s shares were also driven by higher targets for the year, gaining about 15 percent at the top of the SDax.
The euro recently cost US $ 1.0151. The European Central Bank (ECB) previously set the reference rate at USD 1.0122. In the bond market, the current yield on German government bonds rose from 0.81%. the day before to 0.86 percent The Rex retirement rate fell by 0.11 percent. to 136.67 points. Bunds contract gained 1.14%. up to 157.36 points (dpa)