FRANKFURT (dpa-AFX) – The Dax (DAX 40) turned negative on Wednesday after initially further recovery gains. However, it reduced its minus noticeably by the close of trading. The leading German index benefited above all from the very positive stock market sentiment on New York’s Wall Street. The future gas supply and also the key interest rate decision of the European Central Bank (ECB) on Thursday remained the central topics in the trading rooms.
After the Dax temporarily rose to just under 13,400 points, it closed 0.20 percent weaker at 13,281.98 points. The day before, it had jumped by 2.7 percent after several reports of a scheduled resumption of Russian gas supplies. The MDAX increased by 0.68 percent to 26,696.42 points in the middle of the week.
The Eurozone leading index EuroStoxx 50 (EURO STOXX 50) fell by 0.06 percent to 3585.24 points. In Paris and London, the minus was somewhat clearer. In the US, on the other hand, the Dow Jones Industrial (Dow Jones 30 Industrial) rose slightly at the close in Europe.
Market expert Craig Erlam from broker Oanda summed up the current nervousness on Europe’s stock exchanges: “European investors’ interest revolves around two major topics this week: the ECB meeting and Nord Stream 1. And in both cases there was a lot Exercise, so much that I’m more uncertain about tomorrow’s outcome than I was at the beginning of the week.”
In view of the prospect of imminent state aid for the ailing energy company, Uniper shares took the lead in the MDax with a price increase of almost 13 percent. Driven by speculation about the resumption of gas supplies from Russia, they had already risen by a good ten percent the day before. On Wednesday, the measures to save Uniper became more concrete. The existing loans from the state-owned KfW Bank would have to be increased from two to eight billion euros, according to a paper by the Bundestag Committee for Climate Protection and Energy, which is available to the German Press Agency.
HelloFresh shares in the Dax collapsed in the afternoon due to a sales and profit warning. They ended trading at minus 9.4 percent, having previously been up more than six percent and even having increased by around eight percent at the top. A retailer now sees the danger that – like Delivery Hero – the recipe box mail order company could soon be eliminated from the first stock market league.
Continental shares (Continental), on the other hand, advanced by 0.6 percent according to key data for the second quarter. The auto supplier and tire manufacturer fared roughly as expected in a difficult environment.
Scout24 shares benefited from an upgrade by the US investment bank Morgan Stanley, up 1.8 percent. The online portal operator is strong even in an uncertain environment with robust subscription sales and high cash inflows, wrote analyst Pete-Veikko Kujala.
On the other hand, RATIONAL, which brought up the rear in the MDax, fell by three percent. In view of the price rally in the papers of the professional kitchen equipment supplier since the end of June, the British bank HSBC sees little additional upside potential.
In the SDAX, the Ceconomy (Ceconomy St) shares (Ceconomy St) ended up at the end of the index with minus 5.8 percent after a negative comment from the French investment bank Exane BNP Paribas.
The euro was trading at $1.0213 early in the evening. The European Central Bank (ECB) set the reference rate at 1.0199 (Tuesday: 1.0245) dollars. The dollar thus cost 0.9805 (0.9761) euros.
On the bond market, the current yield on German government bonds was stable at 1.09 percent. The Rex bond index (REX overall price index) remained at 134.86 points. The Bund future gained 0.16 percent to 151.36 points./ck/he
— By Claudia Müller, dpa-AFX —