Deutsche Börse: Dax closes significantly higher – economics

Frankfurt am Main – Two happy days in a row for Dax investors. That has gotten weird.

Several surprisingly good quarterly reports from tier one and two companies buoyed share prices on Thursday. Continental and Sartorius, the chemical group Evonik and the copper producer Aurubis impressed with their business figures and annual forecasts.

The Dax continued the previous day’s gains and rose another 0.98 percent to 14,502.41 points.

The MDax of midsize stocks also rose 1.09 percent to 31,443.36 points.

Among the winners on the Dax were shares of Continental, one of the biggest price losses on the Dax this year so far. Despite a lower guidance for returns this year, the stock was up 2.6 percent. In view of the economic environment, investors expected an even bigger setback for business, experts said.

Sartorius shares, also among the losers in this trading year, led the Dax with a 3.8 percent gain. The supplier of pharmaceutical and laboratory equipment surpassed the one billion mark in sales in the first quarter and generated even more orders.

In the second row, shares in metals producer Aurubis rose 6.6 percent, were the strongest MDax stock and hit an all-time high. Given the high demand for industrial metals such as copper, the Hamburg company has once again raised its profit forecast for the year. Shares of Salzgitter, which has a 30 percent stake in Aurubis, gained 6.9 percent. Steel trader Klöckner & Co’s price rose 4.1 percent.

Evonik shares rose 2.2 percent. Following significant growth in the first quarter, the specialty chemicals group is sticking to its full-year guidance despite economic uncertainties caused by the war in Ukraine.

A boom in bookings by US carriers American Airlines and United Airlines helped Lufthansa shares gain 4.7 percent. Shares in engine maker MTU gained 3.3 percent, Airbus shares 2.7 percent and airport operator Fraport shares 2.2 percent.

Most other European stocks also reported gains on Thursday. The EuroStoxx 50 rose 0.80 percent to 3,928.03 points. The French Cac 40 closed 1.4 percent higher. London’s FTSE 100, on the other hand, was flat, held back by losses in commodity producers. In New York, the leading Dow Jones Industrial Average rose 0.3 percent at the end of European trading.

In the currency market, the euro continued to recover on the prospect of a rise in key interest rates in the euro zone, last trading at $1.0852. The ECB had previously set the benchmark rate slightly higher at $1.0887.

In the bond market, the current yield rose from 0.74 percent on Wednesday to 0.79 percent. The Rex pension index fell 0.27 percent to 136.14 points. Bund futures fell 0.74 percent overnight to 153.53 points.

.

Leave your vote

Leave a Comment

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.