The good mood among the German company bosses encouraged investors to buy shares on Thursday. The Dax leg increased by 0.9 percent to 15,589 points. “The German economy is currently in an excellent position,” summarized Thomas Gitzel, chief economist at VP Bank. The Ifo business climate index rose in June to its highest level since November 2018 and exceeded the expectations of experts.
There were very few losers in the leading German index, one of which was Siemens’ shares at a discount of 1.2 percent. The group wants to grow faster with a stronger focus on software technologies and has raised its sales growth targets for the coming financial year 2021/22. “The bar was very high at Siemens, and analysts in sectors such as industrial automation in particular wanted to see even more,” said a trader. Some stockbrokers would have already anticipated the higher goals and are now taking some profits.
In contrast, the titles of suppliers to the solar industry were in demand. The US is considering trade restrictions on Chinese solar companies, according to the Bloomberg news agency. The shares of Wacker Chemie rose as one of the favorites in the M-Dax by four percent, those of SMA Solar by 1.4 percent. Both companies could benefit from such a move. Meanwhile, a major order from Brazil pleased Nordex shareholders. For the title of the wind turbine manufacturer it went up by 3.8 percent. Ströer shares rose by 1.2 percent. The advertising service provider wants to reach the level of before the Corona crisis in the outdoor advertising business in June. Adler Real Estate saw a steep decline. The shares fell at times by almost nine percent. Traders blamed short sales for the price slide. In the wake of Adler Real Estate, the shares of the parent Adler Group fell by 4.2 percent. On Wall Street, the broad S&P 500 and Nasdaq indexes rose about one percent at times, each making record highs. The latter thus reached a new high for the third day in a row. The Dow Jones won similarly, but just missed its previous record.