2023-11-07 20:08:47
Frankfurt/Main.
On the German stock market, the Dax ended up closing moderately higher on Tuesday after a long period of slow trading. The index closed 0.11 percent higher at 15,152.64 points after falling slightly at the start of the week.
Yields fell on the bond markets, which may have provided some support for the stock markets. “Investors are buying stocks these days because the weakening economy requires a looser monetary policy and ultimately interest rate cuts,” wrote analyst Konstantin Oldenburger from broker CMC Markets.
Driven by a sharp jump in the price of Telefónica Deutschland, which was triggered by a takeover offer, the MDax rose more significantly than the Dax and gained 0.80 percent to 25,107.61 points.
Telefónica Deutschland presented quarterly figures, but the main topic here was a takeover offer. The shares jumped by almost 38 percent to 2.35 euros. The Spanish parent company Telefónica is offering exactly this price for the shares it does not yet hold. Telefónica Deutschland more or less made up for a drop in share prices at the beginning of August, when partner 1&1 announced its move from Telefónica Deutschland to Vodafone.
At the top of the DAX, Deutsche Börse gained 3.5 percent. The stock exchange operator wants to increase operating profits by an average of around eleven percent annually up to and including 2026.
In contrast, Daimler Truck’s shares fell by 4.6 percent at the end of the Dax, to their lowest level since the beginning of June. The commercial vehicle manufacturer has recently performed weaker than expected.
With a slump of almost 25 percent, the price losses for the SDax stock Adtran Holdings were even more significant. The telecommunications equipment manufacturer expects business to continue to be weak and is therefore surprisingly suspending its dividend.
Outside the DAX indices, Manz was a very eye-catching stock. The hope of an upturn in business at the plant manufacturer caused the share price to jump by almost 24 percent.
Little happened on the European stock exchanges, the Eurozone leading index EuroStoxx 50 closed 0.13 percent lower at 4,153.37 points. Slight losses were also recorded in Paris and London. The US leading index Dow Jones Industrial, however, was moderately positive at the close of the European stock market.
The euro fell and was last trading at $1.0685. The European Central Bank had set the reference rate at $1.0686.
The current yield on the bond market stagnated at 2.70 percent. The Rex bond index rose by 0.05 percent to 124.37 points. The Bund future recently rose by 0.57 percent to 130.27 points. (dpa)
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