Dhe Dax returned boldly above the 15,000 point mark on Tuesday. The recovery that started the day before after the first shock in connection with the necessary Credit Suisse bailout continued on the day before the US interest rate decision. In early trading, the leading index rose 1.25 percent to 15,119.69 points. The M-Dax gained 0.96 percent to 26,847.92 points and the Eurozone leading index EuroStoxx 50 even rose by 1.3 percent.
In the course of the ongoing uncertainty in the European banking industry, the Dax had dropped to its lowest level since the first days of the year at the beginning of the week. But then he managed an impressive recovery of more than 500 points at times and finished clearly in the black. In the banking sector, too, relief at the rescue of Credit Suisse finally prevailed.
The prospect of a slower pace of interest rate hikes by the US Federal Reserve was also seen as a factor that attracted investors again. When the Fed announces its interest rate decision on Wednesday, monetary authorities are likely to become more cautious given the recent turmoil in the banking sector, it is believed.
According to Commerzbank, the market is no longer fully pricing in an interest rate hike of 25 basis points, but only sees a small chance for it.
The stress in the banking sector has initially subsided, said Jochen Stanzl, an analyst at broker CMC Markets. “The market is also betting that the US Federal Reserve will flip the switch again tomorrow to a slightly more relaxed monetary policy.”
The prospect of selling the steel division meanwhile gave investors access to Thyssenkrupp. The titles rose by up to 3.7 percent. The “Handelsblatt” reported that the Goldman Sachs investment bank commissioned with the sale had found a possible buyer in the financial investor CVC. “CVC can now bring new momentum to this important issue,” said one trader.
Investors also responded positively to the outlook at RWE. According to the figures, the titles of the energy company rose by more than two percent. According to traders, the solid outlook and dividend prospects supported the stock.