After the hectic selling at the beginning of the week, the stock markets in Europe stabilized again on Tuesday. The leading German index dax ended trading 0.9 percent higher at 12,871 points. A drop in gas prices contributed to the brightened mood after the renewed stop of Russian gas deliveries through the important Nord Stream 1 pipeline on Monday triggered a price rally and dragged the stock markets down.
The go-ahead for the IPO of the Volkswagen sports car subsidiary Porsche caused a stir on the market. After the committees had given the green light the night before, the share issue is now targeted for the end of September. VW shares rose 3.7 percent. The shares of the major shareholder of the Wolfsburg car group, the family holding company Porsche SE, also increased by up to two percent before turning slightly into the red.
Shares in Internet stocks posted strong growth. A study by the US bank Morgan Stanley on Delivery Hero gave the sector an overall boost. The titles of the food delivery service rose by 7.7 percent at the top of the M-Dax. In the Dax, the papers of the online fashion retailer Zalando secured one of the top places with a price premium of 2.7 percent. Hellofresh shares were the top favorite with a plus of 4.5 percent. Investors were hardly bothered by the fact that the relegation of the Kochboxen shipper from the first stock exchange league was sealed on September 19th. In return, the Siemens Energy share, which was only relegated in the spring, is back in the Dax – the papers temporarily increased by 3.4 percent. Lufthansa was also in the limelight. Shortly before another planned strike, the airline reached a collective agreement with its pilots. Lufthansa titles then rose by 1.5 percent. At the bottom of the stock exchange were shares in the optician chain Fielmann with a minus of 1.7 among the weaker stocks in the small-cap index S-Dax. The papers got sucked into the cut forecast of the competitor Mister Spex, whose price rushed down by 15 percent. The Wall Street stock exchanges found no clear direction. Of the Dow Jones was listed slightly lower at 31,167 points in the middle of trading.