Investors in Europe pushed recession worries aside again on Tuesday. Of the dax rose by 0.7 percent to 13,910 points. Easing price pressures in the US fueled speculation last week that the US Federal Reserve could slow the rate hike cycle somewhat, boosting stock prices. However, there are still specific risks of a recession. This was also shown by the latest development of the ZEW Index. According to this, German financial experts continue to assume gloomy prospects for the German economy. The corresponding barometer from the Center for European Economic Research fell in August to its lowest level since October 2008. “The danger of a serious energy crisis has not been averted, and the high inflation rates are depriving consumers of purchasing power,” said Thomas Gitzel, Chief Economist at VP Bank.
In terms of individual values, the outlook for the current quarter drove Delivery Hero shares to a six-month high. With a price jump of more than 14 percent at times, the food delivery service left the other values in the M-Dax far behind.
In the case of armaments, investors took the rather weak price development so far in August as an opportunity to buy. Rheinmetall shares gained 3.7 percent in the M-Dax. Hensoldt shares rose in price by 4.3 percent in the S-Dax.
On the London Stock Exchange, the mining group BHP scored with a surprisingly strong result and a record dividend. The shares of the largest mining group by market value rose by 5.5 percent. Higher coal and copper prices gave BHP its highest profit in 11 years.
On Wall Street it closed Dow Jones 0.7 percent up at 34,152 points. Business figures for the retail groups Home Depot and Walmart took center stage here. Home Depot shares rose 4.1 percent. The hardware store chain reported quarterly sales that exceeded expectations. Walmart stocks even rose 5.1 percent. Investors were pleased with the prospect of a smaller decline in annual profits than recently feared after the group was able to convince customers stricken by inflation with discounts.