Of the dax stabilized on Tuesday after falling again at the beginning of the week. After slightly better than feared economic data, the leading index held up for a long time, but then closed with slight losses at 13,194 points. In view of the high energy prices and wage pressure, material bottlenecks, supply chain problems, the shortage of skilled workers and a weaker global economy, companies are facing a lot of headwind, said Commerzbank analyst Antje Praefcke. This was noticeable in the purchasing managers’ indices, which are closely watched on the market. In August, the German economy shrank more than it had since the beginning of the corona pandemic more than two years ago due to high inflation and rising interest rates. The purchasing managers’ index for the private sector fell by 0.5 to 47.6 points.
In the Dax, the shares in economically sensitive sectors in particular recovered, which had come under heavy pressure the day before. With Covestro and BASF, two companies from the chemical sector gained 2.2 percent and 1.5 percent, respectively. In addition, investors grabbed auto stocks again.
Shares in TAG Immobilien rose by 1.7 percent. Higher rents and falling vacancies have recently filled the coffers of the real estate company and have increased the operating result from the rental business, which is important for the industry. After the previous downturn, the energy supplier Uniper also gained four percent. The company, which is reeling because of the gas crisis, had announced that it would start producing electricity for the market in its Heyden 4 coal-fired power plant. This should contribute to securing the energy supply. The drug company Dermapharm generated more sales thanks to good demand, especially for painkillers and inflammatory drugs, and also continued to increase earnings. However, analyst Daniel Wendorff from the investment bank Oddo BHF pointed out that only the most important key figures for sales and operating profit had been announced. Dermapharm’s shares fell by 4.6 percent as one of the weakest S-Dax values.
On Wall Street, there was Dow Jones by half a percent by the end of trading.