FRANKFURT (dpa-AFX) – On Tuesday before the midterm elections in the USA, the Dax (DAX 40) expanded its previous day’s gains somewhat. With a plus of 0.27 percent to 13,570.72 points, around noon it moved closer to the much-noticed 200-day line, which is currently running at 13,617 points. Climbing above this resistance could unleash further upside potential.
All eyes are on politics in the USA. The elections could determine US President Joe Biden’s future room for maneuver and, if the Republicans are successful, could prompt investors to restructure their stock portfolios somewhat.
The MDAX of medium-sized stocks was a little friendlier than the Dax on Tuesday with a plus of 0.75 percent to 24,265.82 points. The Eurozone leading index EuroStoxx 50 (EURO STOXX 50) was 0.2 percent higher.
In addition to the US elections, the US inflation figures due on Thursday are already casting their shadow on the market. Analyst Jochen Stanzl from CMC Markets sees this data as the true test for the Dax. “With the European Central Bank and the Federal Reserve, the two major central banks have signaled that their rate hike course will no longer be 75 basis points per meeting, but only 50 basis points. But only if the inflation data allow it. The worst thing for the stock market would therefore be another jump in the inflation rate.”
In Germany, meanwhile, the reporting season continued on Tuesday with a well-filled agenda, including numerous Dax stocks. The stocks from QIAGEN, which were among the Dax favorites with a plus of 1.9 percent, were particularly noticeable. The gene diagnostics group had raised its targets again.
Munich Re (Munich Reinsurance Company) gained 1.6 percent, analysts praised the insurer’s figures. Bayer, on the other hand, fell by 4.4 percent, according to one analyst, market expectations for 2022 are under pressure.
Technology stocks were very firm across Europe. Infineon took the top spot in the Dax with a plus of 3.3 percent. Aixtron (AIXTRON SE) was ahead in the MDax with a plus of 5.7 percent.
In the SDAX of the smaller stock exchange stocks, the shares of the automotive supplier Schaeffler and the radiation and medical technology company Eckert & Ziegler (EckertZiegler Strahlen- und Medizintechnik) shone with price gains of 9.3 and five percent respectively. The shares of the image processing specialist Basler advanced by 4.9 percent after confirmed medium-term targets. Deutsche Pfandbriefbank (pbb), on the other hand, slipped by 6.8 percent after Deutsche Bank canceled a buy recommendation./ajx/stk
— By Achim Jüngling, dpa-AFX —