Frankfurt Stock Exchange
Dax is growing again – but recovery remains fragile
The Dax is the most important stock index in Germany. Photo: Fredrik von Erichsen/dpa
© dpa-infocom GmbH
The Dax presented itself friendly again on Friday after the most recent setback. It extended its initial gains and was up 1.21 percent at 13,605.30 points by midday.
The Dax presented itself friendly again on Friday after the most recent setback. It extended its initial gains and was up 1.21 percent at 13,605.30 points by midday.
After the recovery rally on Wednesday, the leading German index fell back by almost three percent on Thursday. The MDax for medium-sized companies recently gained 1.42 percent to 29,883.78 points. The Eurozone leading index EuroStoxx 50 went up by 0.75 percent to 3678.71 points.
On a weekly basis, the Dax was heading for a gain of almost four percent. But since the beginning of the year there has still been a price slump of over 14 percent. The situation on the stock markets remains tense due to the ongoing war in Ukraine and high inflation.
With a view to the reporting season, things have calmed down noticeably after the latest flood of figures. At the chemical group Lanxess, investors rewarded the figures and outlook with price gains of more than three percent. This made the shares one of the biggest winners in the MDax. Despite high costs, the Cologne-based company met the profit expectations on the market in 2021 and is aiming for significant earnings growth in 2022.
The airport operator Fraport was able to more than triple the number of passengers in February compared to the same period of the previous year, which was characterized by the lockdown. Compared to February 2019 – i.e. before the outbreak of the corona pandemic – the numbers have more than halved. Shares in the MDax rose by around 1.7 percent.
Some stocks from the renewable energies sector, such as the Siemens Gamesa parent company Siemens Energy and the solar group SMA Solar, also remained in demand: they rose by almost three and five percent. The energy turnaround, which is being indirectly driven by the consequences of the war in Ukraine, remains a topic of discussion on the market. The European Union wants to reduce dependence on Russian gas and oil.