Frankfurt am Main – Dax investors rejoice: it would be nice if the recovery lasts.
The Dax continued to stabilize on Tuesday. However, the respectable recovery gains have increasingly crumbled over the course of the negotiations. The reason given was the imminent opening of the stock exchange in the United States after a long weekend due to a public holiday.
In the afternoon, the German stock market barometer rose 0.32% to 13,308.36 points, after temporarily exceeding 13,400 points.
The MDax of the midsize shares recently gained 0.32% to 27,569.93 points.
Individual companies were mainly affected by negative news. Nordex’s newspaper fell just over seven percent. The wind turbine maker, which was pulled from SDax the day before due to lagging figures, started the year 2022 with “surprisingly high losses” according to retailers.
Among retail stocks, especially online-focused companies were weak. US bank JPMorgan and also investment bank Oddo BHF have referred to rising cost of living and interest rates, which will increasingly affect the industry. Among other things, an analyst downgraded her investment rating for online fashion retailer About You to “neutral”. The stake lost nearly four percent in SDax.
An expert pointed to rising risks to profit warnings for things like Adidas and Zalando, while he’s more bullish on Puma and Hugo Boss. While Zalando lost nearly three and a half percent as the last Dax, Adidas remained almost unchanged. Puma and Boss earned just under two percent.
The euro rose slightly in an overall favorable environment. In the early afternoon, the common currency was trading at $ 1.0555, slightly higher than in the morning. The ECB set the key rate at $ 1.0517 on Monday. On the bond market, the current yield rose on Tuesday from 1.55% the day before to 1.64%. The Rex pension index fell 0.41% to 131.09 points. The Bund futures rose 0.05% to 143.36 points.