2024-01-04 20:28:29
Frankfurt/Main.
Recovery gains on Wall Street provided upward momentum for the Dax on Thursday. After neither the minutes from the US Federal Reserve on Wednesday evening nor domestic inflation data gave investors any reason to buy stocks, the tide turned later in the afternoon.
The DAX ultimately rose by 0.48 percent to 16,617.29 points. Across Europe, the major stock exchanges also mostly rose. The MDax, however, fell by 0.54 percent to 26,109.36 points. The index of medium-sized stocks was particularly impacted by the heavy losses in Evotec shares, but also those in Puma and Aixtron.
Sartorius’ preferred shares were among the weakest values in the DAX at minus 3.1 percent. They were burdened by a canceled buy recommendation from Deutsche Bank. Cautious statements from British sports fashion retailer JD Sports dampened the mood throughout the industry. Carried away by this, Adidas lost 3.0 percent and Puma almost 6 percent.
Bayer’s shares were among the best values in the Dax with an increase of 2.4 percent. As in December, investors in the pharmaceutical and agricultural chemicals group are continuing to expect better times at the start of the year. As the third biggest DAX loser in 2023, Bayer lost a good 30 percent.
Investors in the MDax reacted with shock to the resignation of the CEO of drug researcher Evotec. Evotec shares then fell by 18.3 percent. Two days earlier, the company had reported the manager’s share sales from 2021 and 2022. Aixtron lost 3.0 percent after bank UBS listed the semiconductor manufacturing equipment manufacturer’s shares as a “sell”.
Hapag-Lloyd shares jumped by almost 15 percent to their highest level since mid-October. According to experts, large shipping companies have been benefiting from rising freight rates since mid-December because they have been avoiding the Red Sea due to attacks by Houthi rebels.
The EuroStoxx 50, the leading index for the euro zone, ended the day with a gain of 0.58 percent to 4,474.01 points. Profits were also recorded in London and Paris. In the USA, the Dow Jones Industrial rose by 0.5 percent at the close of trading on the European stock exchanges. The Nasdaq stock exchanges recovered from their recent heavy losses.
The euro was trading at $1.0956 early in the evening. The ECB set the reference rate at 1.0953 (Wednesday: 1.0919) dollars. The dollar therefore cost 0.9129 (0.9158) euros. The current yield on the bond market remained at 2.08 percent. The Rex bond index fell by 0.06 percent to 127.00 points. The Bund future recently lost 1.03 percent to 136.12 points. (dpa)
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