Frankfurt am Main – Yesterday stagnation, today of course plus in the Dax. A belated Easter gift.
After the cautious start to the trading week, the German stock market rallied significantly on Wednesday. With the tailwind of a further rise in US stock markets, it was enough for the Dax to gain 1.47 percent at the end. The leading German index ended trading at 14,362.03 points.
The MDax of midsize stocks also rose 1.23 percent to 31,103.30 points.
Positive impetus came from the US, where the Dow Jones Industrials extended Tuesday’s gains. Additionally, yields in the US bond market fell. With a view to the war in Ukraine, a lot of negative things have been priced in financial markets recently, one market watcher commented. In addition to the war, the outlook for inflation and interest rates and the coronavirus situation in China remain key issues.
German food supplier prices took a turn during the course of the day. After Lieferando’s parent Just Eat Takeaway picked up the sales forecast, industry titles Delivery Hero and Hellofresh initially lost ground. Over the course of the year, Delivery Hero rose again, closing down 2.6 percent. Analysts praised Just Eat Takeaways’ profitability forecast, which also benefited Delivery Hero. Hellofresh finished slightly lower after falling 4.6 percent in the morning.
Chip industry stocks posted price gains. Infineon rose 2.3 percent on the Dax. On the MDax, shares in supplier Siltronic rose 4.4 percent. Industry equipment supplier ASML, which according to JPMorgan analyst Sandeep Deshpande posted surprisingly strong order numbers, struck a good mood here.
Siemens Energy shares partially offset significant early losses and ended up losing 1.6 percent. He weighed on paper the fact that the energy technology group is revising annual targets again because of problems at wind subsidiary Siemens Gamesa.
The other European stock exchanges also reported midweek gains. The EuroStoxx 50 rose 1.72 percent to 3,896.81 points. The French Cac 40 closed 1.4 percent higher. The London FTSE 100, on the other hand, rose only slightly. In New York, the leading Dow Jones Industrial Average was up almost 1 percent at the end of European trading.
The euro rose in the foreign exchange market and recently cost 1.0858 US dollars. The ECB had previously set the benchmark rate at $1.0830.
In the bond market, the current yield fell from 0.79 percent on Tuesday to 0.74 percent. The Rex pension index rose 0.25 percent to 136.51 points. Bund futures rose 0.70 percent overnight to 154.72 points.