FRANKFURT (dpa-AFX) – After the stable start to the week, the Dax (DAX 40) showed slight losses again on Tuesday. The Dax is looking for its direction. Barely an hour before Xetra started, the X-Dax, the indicator for Germany’s leading index, signaled a minus of 0.22 percent to 15,898 points. The Eurozone leading index EuroStoxx 50 (EURO STOXX 50) is expected to be half a percent weaker.
The ZEW Indicator of Economic Sentiment is on the agenda for the late morning. In the afternoon, all eyes will be on the banking sector as Goldman Sachs in the USA publishes quarterly figures.
Market activity continues to be dominated by concerns about faster rate hikes to combat high inflation, particularly in the US. The yield on US Treasury bonds with a term of ten years rose more than 1.8 percent recently. It is an advantage for the Dax that it is dominated by valuable stocks, said market observer Thomas Altmann from asset manager QC Partners. Higher indebted growth stocks from the technology sector suffered significantly more from a rise in interest rates.
With quarterly figures in Germany, the focus is on the fashion retailer HUGO BOSS, whose shares were up 2.8 percent on Tradegate before the market compared to the Xetra close. Thanks to a final spurt, Metzinger exceeded their goals for the year.
Reclassifications affect the shares of the media group RTL, for which UBS issued a buy recommendation and which rose by 1.7 percent on Tradegate before the Xetra close. Bernstein Research canceled the “outperform” vote for Lufthansa, and the shares lost 0.9 percent on Tradegate. Shares in cell tower group Vantage Towers fell 1.6 percent on Tradegate after Goldman Sachs removed its buy rating.
The Hamburg drug researcher Evotec (EVOTEC SE) and the US pharmaceutical company Eli Lilly (Eli Lilly and) announced a collaboration on drugs for metabolic diseases. Evotec advanced 1.4 percent on Tradegate to the Xetra close./ajx/jha/