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FRANKFURT (dpa-AFX) – After a cautious return from the Easter weekend, investors are again optimistic about shares on Wednesday. With a tailwind from the US stock exchanges, the Dax (DAX 40) rose by 1.11 percent to 14,310.34 points around midday. He was able to extend his gains in the morning session. The MDAX made it up 0.74 percent to 30,952.51 points. The Eurozone index EuroStoxx (EURO STOXX 50) even gained 1.8 percent in value.
With the price gains, the Dax continued to move away from the psychologically important 14,000 point mark after the leading US index Dow Jones Industrial (Dow Jones 30 Industrial) went out of trading almost at the daily high the previous evening. As a result of the Ukraine war, a lot of negative things have already been priced in on the financial markets, commented the Comdirect market observer Andreas Lipkow. In addition to the war, the inflation and interest rate prospects and the corona situation in China remain key issues.
According to Lipkow, market participants are still assuming that the current inflation dynamic will have a temporary effect. However, he warned that such a scenario should be doubted. The European Central Bank is in a wait-and-see attitude. He suspects that they will first wait and see the effects of the US Federal Reserve’s already tightened monetary policy. The minutes of the past meeting are expected from this in the evening.
The increase in the German stock market was based, among other things, on rising car values and price gains in tech stocks from the chip sector. Infineon was in the lead in the Dax with an increase of 3.6 percent and in the MDax the shares of the wafer supplier Siltronic even rose by six percent. The industry equipment supplier ASML (ASML NV) spread a good mood here, which, according to the JPMorgan analyst Sandeep Deshpande, surprised positively with strong order numbers.
Other signals came from the USA. US streaming service Netflix suffered its first quarter of subscriber dwindling in more than a decade, and the US OTC stock plummeted by a quarter. However, expert Thomas Altmann from QC Partners believes that the market as a whole can take such news. He sees the waning pandemic as an indication that life is returning to normal. “And that’s positive for the majority of listed companies,” says the expert.
Positive signals came from the chemicals group LANXESS, which had a surprisingly good start to the new year. The experts from UBS and the analysis house Jefferies referred to a better than expected operating result in their first comments. Shares rose by 2.8 percent in the MDax.
The index of medium-sized stocks was slowed down by the 1.7 percent lower Siemens Energy shares. The energy technology group continues to suffer from the wind power subsidiary Gamesa (Siemens Gamesa Renewable Energy SA) and now wants to review its annual forecast because of this. Gamesa shares turned positive in Madrid over the course of the year.
The biggest loser in the Dax was recently the Bayer shares with a discount of 1.6 percent. Since their interim low, which was below 50 euros at the beginning of March, they have had a strong run. After rising to the 68 euro mark in the previous week, investors are taking profits here./tih/jha/