FRANKFURT (dpa-AFX) – Before the key interest rate decision by the European Central Bank (ECB) early Thursday afternoon, the Dax (DAX 40) could recapture the round mark of 13,000 points. The X-Dax as an indicator for the leading index signaled an increase of 0.67 percent to 13,003 points just under an hour before the start of Xetra.
The Dax is thus further away from its intermediate low from the previous week at 12,603 points. The Eurozone leading index EuroStoxx 50 (EURO STOXX 50) is expected to be 0.6 percent higher on the penultimate trading day of the week.
Support comes from the most important US indices, which showed strength from the start on Wednesday and thus helped the Dax out of the loss zone in the afternoon. Relief came as the recent rise in bond yields paused. The Asian trading centers also reported profits on Thursday, especially in Japan things went uphill.
A majority of economists expect the ECB to raise interest rates by 0.75 percentage points on Thursday. The effects on the stock exchanges of this interest rate step were probably limited, the market participants would have had enough time to prepare for it, wrote the portfolio manager Thomas Altmann from the asset manager QC Partners.
Experts point to the extremely high inflation, which is now forcing the monetary authorities to act. In August was in the euro zone the annual inflation rate climbed to 9.1 percent and thus higher than at any time since the introduction of the euro.
When looking at the individual values on the German stock market, there is initially little movement early on Thursday. ProSiebenSat.1 (ProSiebenSat1 Media SE) lost 1.7 percent on Tradegate before the Xetra close. The US bank Morgan Stanley downgraded the title of the media group to “Underweight”.
The shares of the industrial group thyssenkrupp could be worth a look again. In the middle of the week, shortly before the end of trading, she benefited from a report by the specialist portal “Dealreporter”, according to which the plans for an IPO for the hydrogen subsidiary Nucera, which had recently been put on hold, could soon be revived. The Thyssenkrupp papers then increased by more than 5 percent./ajx/mis