Encouraging statements on the progress of negotiations between Russia and Ukraine on a ceasefire gave Europe’s stock markets a strong boost on Tuesday. the dax climbed 2.8 percent to 14,820 points. “Indications that the Russian side is backing away from some of its original demands are raising the spirits,” said financial market expert Russ Mold of brokerage house AJ Bell. The Russian chief negotiator Vladimir Medinski described the talks as constructive. The Russian stock market also went up. Moscow’s leading index RTS advanced by more than ten percent. A significantly lower oil price also brightened the mood.
In the hope of a relaxation in the supply chains, investors resorted to automotive stocks. This drove the share prices of BMW, Volkswagen, Porsche and Mercedes-Benz up by up to 6.7 percent in the Dax. The paper from the supplier Continental was up ten percent. In addition, the recently badly hit papers from Delivery Hero and Hello-Fresh were very popular with investors. They also benefited from an upgrade of the securities trading bank Exane. This lifted the shares of the food delivery service Delivery Hero to the top of the Dax with a price increase of almost 16 percent. The recipe box mail order company Hellofresh followed with an increase of 10.4 percent.
Positive signals also came from companies on the second stock exchange. The IT system house Cancom set itself high goals despite the uncertainties caused by the corona pandemic and the Ukraine war. With an increase of 6.6 percent, the titles were among the favorites in the M-Dax. Jefferies analysts called the 2022 outlook a “positive surprise.” The vacuum pump manufacturer Pfeiffer Vacuum also scored well with investors and led the list of winners in the S-Dax with a price increase of more than ten percent.
On Wall Street, it rose Dow Jones by one percent. Shares in the airlines that had gotten under the wheels in the past few weeks were bought. American Airlines, Delta and United titles gained up to five percent. Defense stocks, on the other hand, came under selling pressure.