FRANKFURT (dpa-AFX) – Things were quiet before Christmas on the second and last trading day of the week on the Frankfurt Stock Exchange. The DAX, the leading index for German stock trading, closed 0.23 higher at 24,340.06 points on Tuesday. Price movements for individual stocks were also limited.
As at the start of the week, the few investors who were still active held back. “On the home stretch before the holiday, the trading floors of the institutional heavyweights are already largely deserted due to the Christmas holidays,” wrote Frank Sohlleder, analyst at broker Activtrades. Institutional investors have closed their books. As on Monday, stock market turnover was low.
New US economic data, which was mixed on balance, had little influence on prices. The US economy – measured in terms of gross domestic product – grew more than expected in the third quarter at 4.3 percent. The industry also produced more in November than expected. On the other hand, orders for durable goods fell more than forecast in October.
The MDAX of medium-sized stocks fell by 0.44 percent to 30,302.78 points. The EuroStoxx 50 closed moderately in positive territory.
Outside the Eurozone the Swiss leading index SMI reached a record high. The British FTSE 100 closed slightly firmer. In the USA, both the Nasdaq stock exchange and Wall Street were slightly positive.
The shares of German car manufacturers reacted to sales figures for Europe with manageable losses. Volkswagen preferred shares (Volkswagen (VW) vz), for example, fell by 0.4 percent. The car market in the European Union recorded 2.1 percent more new registrations in November than a year earlier. However, overall sales are still well below the level before the corona pandemic.
The Danish pharmaceutical company Novo Nordisk will be allowed to sell its weight loss drug Wegovy in the USA as a tablet and no longer just as an injection from January. According to a dealer, this leads to negative conclusions about the pharmaceutical packaging manufacturer Gerresheimer, which produces the syringes for Novo Nordisk, among others. Gerresheimer shares fell by 2.7 percent, those of its competitor SCHOTT Pharma lost 0.4 percent.
The specialty chemicals group AlzChem is extending the contracts with important board members early. The papers gained 1.7 percent./bek/he
— By Benjamin Krieger, dpa-AFX —