Frankfurt Stock Exchange
Dax with countermovement to the recent sell-off
The DAX curve in the trading room of the Deutsche Börse in Frankfurt. Photo: Boris Roessler/dpa
© dpa-infocom GmbH
After sliding to a low since mid-March at the beginning of the week, the Dax caught on Tuesday. The downward trend dynamic was too violent, said market expert Andreas Lipkow from Comdirect-Bank.
After sliding to a low since mid-March at the beginning of the week, the Dax caught on Tuesday. The downward trend dynamic was too violent, said market expert Andreas Lipkow from Comdirect-Bank.
In early trading, the leading German index rose by 1.11 percent to 13,529 points. The MDax gained 0.77 percent to 28,030 points. The Eurozone index EuroStoxx 50 was 1.1 percent higher.
Market observers at Credit Suisse are currently seeing an “extreme level of pessimism” and cite four reasons for this: inflation, rising interest rates, supply chain problems and geopolitical crises. The prospects for the financial markets are not as bad as they seem, at least for this year. The Credit Suisse experts warn against “panic sales”.
In addition to quarterly figures from companies, the ZEW economic expectations are on the agenda in Germany this morning, and Helaba believes that no recovery is to be expected.
After a positive start, Bayer turned negative in the Dax with a recent 0.6 percent. Thanks to strong growth in the agricultural business, the group sees itself on course to meet its annual targets. Munich Re grew by 0.5 percent. The reinsurer started the year with slightly higher profits despite the heavy burden of the Ukraine war.
Fraport shares fell by 3.6 percent in the MDax. The airport operator missed earnings expectations, wrote the analysts at the Canadian bank RBC. According to stockbrokers, a strong first quarter brought the shares of the silicon wafer manufacturer Siltronic an increase of 3.7 percent.
Papers from Wacker Neuson fell by 3.8 percent in the SDax. Although the analysts at Jefferies praised the construction machinery manufacturer’s growth, they criticized the profit margin. The papers of the auto supplier Schaeffler gained 5.5 percent. The outlook is a bit below market expectations, but the fact that Schaeffler is giving a forecast again at all, together with the figures for the first quarter, provides some relief, said a dealer.