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Dem Dax On Wednesday, after an initially quite listless course of trading, the leap over the important 13,000 point mark was successful. The investors joined the positive US stock exchanges. The hopes of a breakthrough in the discussions about a US aid package and the associated economic confidence would have lifted the German benchmark index back over the round hurdle, commented market expert Timo Emden from Emden Research.
The Dax closed with a price increase of 0.86 percent to 13 058.63 points, after briefly breaking the next round 100 mark. For the MDax the medium-sized values rose from their highest level since the end of February by 0.62 percent to 27,781.23 points.
The most important German stock market barometer had temporarily surpassed the 13,000 mark the day before after almost three weeks. On Wednesday, lethargy returned to the market for a long time, but with the opening of the US stock exchanges, investors in this country also let themselves be carried away by the increasing risk appetite of investors on Wall Street. The market is still waiting for an agreement in US politics on another economic stimulus program in the Corona crisis – the talks between Republicans and Democrats in the US Congress are currently at a dead end.
On the corporate side, the recent rotation from tech to standard stocks on the German stock market continued. In the Dax, shares in the consumer goods group Beiersdorf were in line with trends in Europe and the energy company RWE with growth of more than two percent each. The winners of the day were Deutsche Börse papers with a price increase of almost two and a half percent.
In addition, numerous companies again published quarterly reports, including Eon . The energy company lowered the forecast because of the Covid 19 pandemic. The stocks, which were initially less traded, had moved into the profit zone by just under 0.3 percent by the end of trading.
Freenet benefited from an offer from the US cable company Liberty Global for the Swiss company Sunrise, in which the German mobile operator has a stake. The Americans want to pay 110 Swiss francs per share and Freenet wants to offer its 24 percent stake in full. The prospect of the windfall made the Freenet shares at the top of the MDax soar by almost 17 percent.
Evotec lost almost seven percent according to half-year figures and confirmed forecast, but had also gained seven percent the day before. The drug researcher also announced higher spending on research. The stocks are usually quite volatile.
The EuroStoxx closed with a plus of 0.93 percent to 3363.18 points. In Paris, the Cac 40 took off similarly strong, whereas for the FTSE 100 went up by around two percent in London. The New York Dow Jones Industrial
was almost one percent up at the close of European trading.
On the bond market, the current yield rose from minus 0.53 percent the previous day to minus 0.47 percent. The Rex pension index
fell 0.28 percent to 145.31 points. The Bund Future
lost 0.41 percent to 176.20 points. The course of the euro rose and was last at $ 1.1794. The European Central Bank (ECB) had previously set the reference rate at 1.1771 (Tuesday: 1.1783) dollars. The dollar had thus cost 0.8496 (0.8487) euros./tav/he
— By Tanja Vedder, dpa-AFX —
ISIN DE0008469008 DE0008467416
AXC0334 2020-08-12 / 18:12
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