After losses of more than 200 points in Tuesday business, the DAX Catch and stabilize midweek. The leading German stock market index closed 5 percent higher at 18,374 points. Better-than-expected EU consumer price data provides some support. Prices on Wall Street initially fell slightly.
“The lower-than-expected inflation in the Eurozone has at least given the market the insight that one might not be completely wrong in hoping that interest rates will fall as early as June,” comments ntv stock market correspondent Friedhelm Tilgen. “A sustained low price increase would give the ECB enough breathing space to help the economy in this country get back on its feet,” he explains and continues: “While in the USA the opposite is the case: the economy there is still running at full speed. And as long as that is the case, the US Federal Reserve will remain cautious with interest rate cuts for the time being.”
The first quarter of 2024 went record-breakingly well for the DAX: in the first three months alone, the index delivered 26 record highs. On Tuesday, the first trading day after the long Easter weekend, the DAX initially set another record at 18,567 points. At the close of trading, however, there was a loss of just over one percent. Concerns had returned that interest rates in the USA could remain high for longer than previously hoped. The trigger was economic data at Easter time, which pointed to a strong US economy.
Among the individual stocks in this country are the titles of Infineon thanks to a positive analyst study at the top of the DAX and increased by around three percent. The US bank Morgan Stanley had upgraded the chip manufacturer’s shares to “overweight” and raised the price target by 5 euros to 40 euros.
The biggest losers in the DAX include the securities of Daimler trucks with a discount of around 1.5 percent. Shares of other European commercial vehicle manufacturers are also falling. They are suffering from the fact that orders for trucks in the USA have fallen to their lowest level in seven months.