US Federal Reserve raises interest rates again. OPEC+ increases oil production slightly. Apple, Google & Microsoft: Tech-Allianz is expanding secure login procedures without a password. S&P upgrades K+S to BB from B+. Lufthansa can recover significantly. Surprisingly, MTU gets a new boss. High steel prices drive ArcelorMittal. Shell earns billions despite Russia write-off STRATEC earns less.
Of the DAX started trading with an increase of 2.23 percent at 14,282.77 points and continues to increase significantly. Of the TecDAX was 1.2 percent higher at 3,102.38 digits at the start of the stock exchange and then continued to increase its profits.
The statements made by the US Federal Reserve the previous evening in the wake of the latest interest rate decision provided some relief. As expected, the key interest rate was raised by 50 basis points, but according to Fed Chair Jerome Powell, even larger rate hikes are not planned – despite the high inflation. This has already caused price gains on Wall Street and in Asia.
Meanwhile, the balance sheet season continues with figures from BMW, Zalando, Airbus, Vonovia and Lufthansa, among others.
Click here for the complete index overview
Of the EuroSTOXX 50 rose 0.53 percent to 3,744.91 points at the start of trading and then remained in the profit zone.
Strong prices in the USA and Asia are also helping the European markets to gain momentum. The reasons for this are the statements made by the US Federal Reserve the previous evening. This had taken the mildest possible course and announced a rate hike of 50 basis points. “Relief Rally”: “75 basis points are off the table,” commented a trader to Dow Jones Newswires.
Click here for the complete index overview
Of the Dow Jones opened the session 0.61 percent lower at 33,854.17 points and then continues to fall. For the NASDAQ Composite it is meanwhile going down even more significantly after having already lost 1.37 percent to 12,787.52 points at the start.
As expected, the US Federal Reserve raised interest rates by 50 basis points the night before. The interest rate is now in the range of 0.75 to 1.0 percent. In addition, the Fed announced plans to unwind its balance sheet, which had been bloated by crisis measures. In the fight against high inflation, the US Federal Reserve reserves the right to make further significant interest rate hikes. Even bigger rate hikes than the half a percentage point that has now been made are not currently being considered.
The US Federal Reserve did not try to surprise the market, said economist Thomas Costerg from Pictet Wealth Management, according to the German Press Agency. With regard to further interest rate policy, however, the US central bank has shown itself to be more open than the market had already calculated, according to Costerg. In his opinion, after inflation, economic data should increasingly determine the course. He could already imagine a slower rate of increases in July.
Meanwhile, the quarterly reporting season continues on the company side. The evening before, the auction platform eBay presented its figures for the past quarter after hours.
Click here for the complete index overview
There was no trading in Tokyo on Thursday either, the market there remained in the holiday break. The leading Japanese index Nikkei fell 0.11 percent to 26,818.53 points by the close on Monday.
Of the Shanghai Composite was ultimately able to gain 0.68 percent to 3,067.76 points. Of the hang seng Hong Kong, meanwhile, fell 0.34 percent to 20,793.40 jobs.
The interest rate decision by the US Federal Reserve announced the previous evening provided some impetus in Asia. The Fed had raised interest rates by 50 basis points and announced that it was not currently aiming for a 75 basis point hike in interest rates. Even Wall Street reacted with relief to this statement.
Click here for the complete index overview