Frankfurt Stock Exchange
Dax noticeably recovers from war shock
The Dax is the most important stock index in Germany. Photo: Fredrik von Erichsen/dpa
© dpa-infocom GmbH
The German stock market has overcome the initial shock of the Russian attack on Ukraine for the time being. After initially only slight price gains, the Dax began to recover somewhat more clearly by midday and rose by 1.26 percent to 14,228.75 points.
The German stock market has overcome the initial shock of the Russian attack on Ukraine for the time being. After initially only slight price gains, the Dax began to recover somewhat more clearly by midday and rose by 1.26 percent to 14,228.75 points.
The day before, the leading German index had temporarily fallen to its lowest level in a year. In the course of the turbulent week, he has currently lost almost six and a half percent.
The MDax of medium-sized stocks gained 1.93 percent on Friday to 31,256.32 points. Recovery gains were also recorded across Europe, while US bourses could face a weaker start to trading at the end of the week.
The fact that investors took heart again a few hours after Russia invaded Ukraine “speaks for short legs of political stock exchanges”, stated market observer Timo Emden.
Eon and RWE shares in Germany rose sharply. They gained 3.8 percent and 6.6 percent.
Among the individual values, the shares of BASF were also in view according to annual figures and lost 3.3 percent as the Dax tail light. The shares of VW and the holding company Porsche went up by around three percent each, because the top committees of the VW Group approved an IPO for the sports car subsidiary Porsche AG. The feasibility is now being examined in detail.
In the MDax, the papers of the mobile phone provider Freenet gained 6.0 percent after the quarterly figures presented the evening before. Jefferies analyst Ulrich Rathe highlighted Freenet’s strong fourth-quarter profitability and optimistic outlook.
Secunet shot up 16.4 percent in the SDax. In the currently very uncertain geopolitical environment, the papers of the IT security specialist benefited from the need for protection against cyber attacks. The shares of the armaments companies Rheinmetall and Hensoldt also continued to expand their significant gains from the previous day.