FRANKFURT (Dow Jones) — The German stock market went up on Thursday. With a solid plus of 1.2 percent, the DAX closed at 15,854 points. For Varta, on the other hand, things have been going down for days, the share is cheaper than ever. The fact that the US House of Representatives passed the draft law to raise the debt ceiling was positively assessed on the stock exchange. Now the approval of the Senate is still missing, which the stock exchange is firmly counting on. The EU consumer price inflation confirmed the trend from Germany and came back more clearly. While expectations of further rate hikes by the European Central Bank on the bond market fell, the President of the ECB made a statement Christine Lagarde quite hawkish, which at least strengthened the euro on the foreign exchange market. After the US data did not provide any impetus in the afternoon, the labor market report on Friday is now being awaited.
Varta cheaper than ever
The winner in the DAX was the Airbus share with a plus of 2.8, the aircraft manufacturer received an order for seven aircraft from Air Algerie. Heidelberg Materials (+2%) has been upgraded to Overweight by analysts at JP Morgan on a more positive medium-term view of the industry. Overall, fundamentals for the cement industry are improving, setting the stage for greater pricing power going forward – a long-standing weakness amid increasing headwinds from carbon savings costs. With sales of 1.1 percent, Vonovia was one of the losers in the DAX.
Varta shares fell to an all-time low of EUR 13.83, and analysts recently became more bearish for the share, also with a view to the debt. Uniper shot up by a good 28 percent, which according to market participants is not fundamentally justified, but is due to the narrow market. The majority of private small investors are likely to romp around in the share, the professionals would have said goodbye to the value a long time ago.
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INDEX last +/- % +/- % YTD
DAX 15,853.66 +1.2% +13.86%
DAX future 15,882.00 +1.4% +12.84%
XDAX 15,861.11 +1.0% +14.36%
MDAX 26,746.72 +0.8% +6.49%
TecDAX 3,242.33 +1.3% +11.00%
SDAX 13,188.33 +0.6% +10.59%
last +/- ticks
Bund future 136.31% +28
Index winners losers and turnover million euros million shares previous day
DAX 33 6 1 2,537.2 55.9 176.6
MDAX 38 12 0 439.7 38.7 152.4
TecDAX 26 2 2 595.0 17.4 62.4
SDAX 45 21 4 100.0 6.1 14.0
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(END) Dow Jones Newswires
June 01, 2023 11:51 ET (15:51 GMT)
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