After the price losses of the past few days, investors took courage again on Tuesday. The leading index Dax rose by a good one percent to 15,942 points. The focus on the market was the hearing of US Federal Reserve Chairman Jerome Powell before the US Congress on the evening after the stock market in Europe. “As Powell’s statement was published in advance, there are no big surprises to be expected,” said Thomas Altmann, portfolio manager at asset manager QC Partners. The fact that Powell referred not only to inflation risks but also to growth in his speech was well received by the stock exchanges, he said.
In terms of individual values, the partial exit of the financial investor Cerberus from the major German banks made the institutes difficult. Deutsche Bank shares fell by up to 2.3 percent, making them one of the biggest losers in the Dax. The Commerzbank stocks lost 4.8 percent at the top. On Monday evening, Cerberus placed parts of its block of shares at the two institutes within a few hours. Since the capital market seems to be in the merger fever, it will be seen as a bad sign that Cerberus is reducing its shares, said a trader. In contrast, Delivery Hero scored points with the announcement that the food delivery business is expected to break even in the second half of the year. The titles were at the top of the Dax with a plus of up to 9.3 percent.
With a plus of 3.4 percent, the shares of Evotec were one of the biggest winners in the M-Dax. The drug researcher is expanding its cooperation with the pharmaceutical company Bristol Myers Squibb. In the S-Dax, the titles of the shop pharmacy went up by 2.5 percent. The online drug retailer reported significantly accelerated sales and customer growth in the final quarter. On Wall Street, the Dow Jones was half a percent higher from trading. The general conditions speak for further price gains, said investment strategist Ryan Detrick of the asset manager LPL. “We are aware of concerns about Omikron, inflation and monetary tightening. But US corporate balance sheets should once again justify that share prices are close to record highs.”