FRANKFURT (Dow Jones)–After a very volatile business, the German stock market closed somewhat firmer on Wednesday. The DAX gained 0.2 percent to 15,810 points, the daily low was 15,630 points. Rising yields on the bond markets had initially weighed more heavily on the mood. On the German bond market, the ten-year yield briefly rose back into positive territory for the first time since April 2019. At the close of the market it was just below the zero line again. However, predominantly good business figures are supporting the mood in the DAX.
Aurubis raises forecast
After good business figures and a raised outlook, Aurubis gained 7.8 percent. According to preliminary figures, operating profit before tax for the first quarter is 152 million euros, well above Warburg’s estimate of 95 million euros. Aurubis now expects an operating profit before tax (EBT) of EUR 400 to 500 million for the 2021/22 fiscal year as of the end of September, after previously EUR 320 to 380 million.
In contrast, Leoni’s price fell by 10.6 percent. The fact that the Federal Cartel Office had started investigations into various cable manufacturers and other companies related to the industry was a problem here. The reason is the suspicion of coordination in the calculation of customary metal surcharges in Germany. Even if this does not mean that Leoni has violated German antitrust law, the searches indicate a reasonable initial suspicion, according to Warburg.
Retailers saw mainly short purchases behind the sometimes significant price gains in shares in delivery services and online retailers: Zalando went up 3.4 percent, Delivery Hero and Hellofresh each gained 2.1 percent. Qiagen rose by 2 percent – supported here by vague takeover speculations.
K+S very weak
The business figures for 2021 from Hypoport (+0.8%) in retail were described as good. The growth of the Europace platform amounted to 14 percent compared to the previous year. Compared to the somewhat decelerated market growth, that’s decent.
With a minus of 6.7 percent, K+S were under a lot of pressure. One market participant spoke of profit-taking after the course had already gained a good 20 percent this year. Varta lost 7.1 percent.
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INDEX last +/- % +/- % YTD
DAX 15,809.72 +0.2% -0.47%
DAX future 15,813.00 +0.2% -0.13%
XDAX 15,823.22 +0.4% -0.16%
MDAX 34,134.39 -0.1% -2.82%
TecDAX 3,527.93 +0.8% -10.01%
SDAX 15,579.30 -0.3% -5.09%
last +/- ticks
Bund future 169.50 +17
Index winners losers and turnover million euros million shares previous day
DAX 22 16 2 4,083.7 74.9 70.6
MDAX 26 23 1,873.7 47.7 35.0
TecDAX 20 10 0 1,128.9 35.5 30.0
SDAX 24 45 1,244.1 14.6 12.0
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DJG/mpt/ros
(END) Dow Jones Newswires
January 19, 2022 11:53 ET (16:53 GMT)