FRANKFURT (dpa-AFX) – The leading German index Dax (DAX 40) was not quite able to maintain renewed price gains in early trading on Tuesday. Around noon, the selection index was up 0.13 percent moderately at 15,693 points. Investors may be playing it safe with US inflation data due out on Wednesday. These should influence the interest rate expectations on the markets – and thus also move the stock exchanges.
Meanwhile, German economic data was disappointing. The expectations of financial market experts for the economy in Germany fell more significantly in July than assumed. “Hopes for an economic recovery in the second half of the year are fading in the summer heat,” wrote economist Thomas Gitzel from VP Bank, referring to the ZEW survey. “The state of a sluggish German economy will probably accompany us for a long time to come.”
The MDAX for medium-sized stocks increased by 0.53 percent to 27,180 points. The leading eurozone index, the EuroStoxx 50 (EURO STOXX 50), was also somewhat firmer.
Looking at the individual values, the shares of Daimler Truck rose to the top of the Dax with an increase of 1.5 percent. After the “strong” course of the year so far, the manufacturer of commercial vehicles is more optimistic about sales, turnover and profit this year.
A deleted buy recommendation from Metzler Bank pushed the BMW course (BMW) down by 1.5 percent and to the end of the Dax. Deutsche Bank (Deutsche Bank) was down 0.4 percent after French bank Societe Generale cut it from a buy to a hold.
Evotec (EVOTEC SE) shares gained more than four percent. The developer of active pharmaceutical ingredients has entered into a cooperation with the pharmaceutical giant Bristol-Myers Squibb. Thanks to orders from the Mediterranean region, Nordex went up by a good three percent.
Meanwhile, Berenberg Bank canceled the buy recommendations for the shares of the three small caps Cancom (CANCOM SE), DIC Asset and New Work (New Work SE (ex XING)). Prices fell between two and six percent. The shares of GFT Technologies (GFT SE), on the other hand, gained more than six percent, for which Berenberg Bank had issued a new buy recommendation./bek/jha/
— By Benjamin Krieger, dpa-AFX —