Bargain hunters and, for the time being, slightly less worries about the collapse of the Chinese real estate company Evergrande brought price gains to the German stock market on Wednesday. Investors also waited with excitement for the monetary policy signals from the US Federal Reserve that were due in the evening, which, however, were only to be published after the stock market closed in Europe. Of the Dax gained one percent to 15 507 points. The real estate developer Evergrande, which is more than 300 billion dollars in debt, announced that it would service an interest payment of just under 36 million dollars due on Thursday for a domestic bond. Since the next payment period will soon end, this is only a drop in the bucket, said Christian Henke, an analyst from the brokerage house IG. “The risk of contagion for the Chinese and global financial system has not yet been banned.”
In the Dax, the shares of Deutsche Post were among the weakest values with minus 1.5 percent after the US competitor Fedex failed to meet market expectations with its profit and lowered the forecast. Fedex papers lost 8.2 percent of their value in New York. The shares of the carmaker, however, were among the top favorites in the Dax. Daimler, BMW and Volkswagen gained between 2.1 and 3.8 percent.
The titles of the IT service provider Bechtle fell by seven percent after a buy recommendation that Bankhaus Metzler removed, making them the biggest loser in the M-Dax. The papers of the biofuel manufacturer Verbio sagged by eleven percent after a disappointing outlook at the S-Dax end. The Airbnb competitor Hometogo received a positive response on the stock exchange. The shares gained 0.9 percent. The Berlin-based travel platform had slipped into the empty Lakestar wallet and found its way to the stock exchange through the back door.
On Wall Street, gains outweighed the Fed’s rate meeting that evening. The default values index Dow Jones improved by more than one percent to 34,257 points. The US Federal Reserve (Fed) is heading for an early exit from the crisis mode caused by the Corona crisis and is considering an interest rate hike for 2022.