2023-06-13 20:42:31
A significant drop in inflation in the USA also gave the German stock market a noticeable boost on Tuesday. The increased confidence that the US Federal Reserve will at least take a break in the rate hike cycle this Wednesday provided a boost. The Dax passed the 16,200 point mark, bringing the record high from May at just under 16,332 points within reach.
The leading index ended the day with a premium of 0.83 percent to 16,230.68 points. The MDax for medium-sized companies gained 0.61 percent to 27,473.14 points. The leading eurozone index, the EuroStoxx 50, rose by 0.72 percent to 4,347.55 points, and gains were also posted on the national stock exchanges in Paris and London. In the US, the Dow Jones Industrial rose 0.4 percent at the close in Europe.
Inflation in the world’s largest economy fell to a two-year low. It weakened to 4.0 percent in May compared to the previous month and was therefore more than expected. At the same time, this rate is the lowest since March 2021.
In Germany, inflation also continued to weaken, but is still high at 6.1 percent, according to current data from the Federal Statistical Office. These confirmed the preliminary information provided two weeks ago. In addition, the economic expectations of financial experts in Germany brightened slightly in June: the mood barometer of the Mannheim research institute ZEW rose to minus 8.5 points compared to May.
Among the individual values on the German market, the SAP share benefited from unexpectedly good quarterly figures from the software manufacturer Oracle. They gained 1.3 percent, back to their highest level since January 2022. Thriving cloud services helped the US-based SAP competitor grow profits and revenue in the past fiscal quarter.
In the MDax, the takeover of BBS Automation announced by Dürr brought the plant manufacturer’s share price up by 6.0 percent. With the acquisition worth up to 480 million euros, Dürr wants to more than double its sales in automation technology in 2024 to around half a billion euros.
In contrast, the paper of the event organizer and ticket dealer CTS Eventim remained under pressure. After losing almost 9 percent the day before, it has now fallen by a further 7.5 percent. There is almost nothing left of the annual profit so far. A negative report by TV satirist Jan Böhmermann on Friday evening is likely to have triggered the profit-taking. The week before, the share price had come close to the record high from 2021 at just under 73 euros.
Still in the SDax, and then in the MDax from next week, the share certificate of the shop pharmacy also came into focus, which is now called Redcare Pharmacy. The long-planned renaming was completed. After falling sharply in the past week, shares in the online drug retailer continued on their recent stabilization course and rose by 7.0 percent.
The euro hovered around the $1.08 mark and was last traded at $1.0796. The European Central Bank set the reference rate at 1.0793 (Monday: 1.0765) dollars. The dollar thus cost 0.9265 (0.9289) euros. The current yield on the bond market remained at 2.43 percent. The Rex pension index fell by 0.05 percent to 125.41 points. The Bund future (September contract) recently fell by 0.51 percent to 133.65 points. (dpa)
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