Frankfurt am Main – Finally a little glimmer of hope for the battered Dax investors!
After three days of consecutive losses, the stock market barometer took only a slight lead on Wednesday. After a weak start, the major German index held out for a long time before a phase of weakness on Wall Street brought it back to the downside.
Eventually, the Dax closed with a 0.27% price increase to 13,793.94 points.
The MDax of the medium-sized stock exchanges increased by 0.30% to 29,816.32 points.
Eurozone counterpart Dax EuroStoxx 50 finally achieved a 0.36% gain to 3734.64 points. The national indices of Paris and London rose slightly. In contrast, the major US index Dow Jones Industrial and the high-tech Nasdaq 100 each rose about one percent at the end of trading in Europe.
One analyst spoke of a “turbulent trading day” in Frankfurt. “The cops haven’t given up yet. But against the backdrop of mounting risks, it’s becoming more and more difficult for them to withstand the near-tsunami sales waves,” he summed up.
Quarterly reports from Dax companies were mostly welcomed, especially Hellofresh data: shares jumped a good eleven and a half percent to the top of the index after cookbook mail order company reported a rise in sales despite fewer crown restrictions. Earnings adjusted before interest, taxes, depreciation and amortization continued to decline, but were better than expected.
Behind them, the shares of flavor maker Symrise, diagnostics specialist and laboratory service provider Qiagen and automaker Mercedes-Benz achieved price gains of between one and half and nearly six percent. Shares from sporting goods manufacturer Puma, on the other hand, lost 2.8 percent.
Deutsche Bank was at the bottom of the Dax with a price loss of more than five and a half percent. Like Commerzbank, it started the year with a surprisingly high profit. But while a stock trader attested to “competitor’s bright earnings and profit figures,” he rated Deutsche Bank’s figures as conflicting. As a result, Commerzbank shares were among the best values in the MDax with a 1.3% increase.
Bechtle shares rose similarly after the IT service provider posted a surprisingly strong increase in pre-tax profit. On the contrary, a high quarterly loss of the energy group Uniper brought the share down by 0.9 per cent.
In the SDax small cap index, DWS shares lost nearly two and a half percent due to a surprising outflow of funds at the Deutsche Bank branch. Newspapers from the Adler Group took the back another 15 percent to an all-time low. According to the traders, the recently released results of a special review by KPMG auditors of the allegations by short seller Viceroy have not allayed market concerns, although the company claims it has been exonerated from the charges.
Prices continued to rise on the German bond market. The Rex bond index rose 0.13% to 136.85 points, while the current reverse yield fell to 0.69% from 0.74% the previous day. The Bund futures gained 0.08% to 155.62 points.
The euro continued the losing streak. For the first time in five years, the common currency fell below US $ 1.06. It was last listed at $ 1.0551. The European Central Bank had previously set the benchmark rate at $ 1.0583.