2023-04-18 09:54:56
Dhe German stock market started trading with moderate gains on Tuesday. In the first few minutes of trading, the Dax was up 0.27 percent at 15,832.43 points and initially remained below the 16,000 point mark. The season of quarterly reports is gradually picking up speed, and investors are likely to exercise caution when it comes to the numbers from large corporations in Europe and the USA. In China, good economic data was also unable to give the stock exchanges a stronger upward impulse. The Chinese economy accelerated its growth surprisingly strongly in the first quarter after the end of the strict corona policy. “However, whether the recovery in the second half of the year will be sustainable depends on the improvement in confidence in the private sector,” said Commerzbank economist Tommy Wu. The M-Dax of medium-sized stock market values rose by 0.70 percent to 28,033.14 points on Tuesday morning and was thus stronger than the Dax. The leading eurozone index, the Euro Stoxx 50, rose by 0.3 percent.
Landesbank Helaba is optimistic about the stock markets. “As long as there are no surprisingly bad economic figures, interest rate worries are kept within limits and the quarterly results suggest that companies and especially large US banks survived the crisis in March well, the friendly mood is unlikely to change much,” it said in a market comment. The Dax can therefore test the 16,000 point mark.
In terms of individual stocks, MTU Aero Engines stocks rose to the top of the Dax by up to four percent. The Munich engine builder significantly increased sales and profits in the first quarter and exceeded analysts’ expectations. Brenntag’s shares gained around half a percent. Here, an activist investor is once again putting pressure on the chemicals dealer’s strategy. Investors also grabbed Drägerwerk and drove the stocks listed in the S-Dax small-cap index up by five percent. It benefited from a significant increase in demand for ventilators in China. The medical technology manufacturer is operating in the black again thanks to easing delivery problems. “Back-to-back quarters of profit means a lot for this company after quarters of losses,” said one trader. Südzucker was at the top of the S-Dax small-cap index with a plus of 6.2 percent. The sugar producer earned more than expected in the 2022/23 financial year, increased the dividend significantly and raised the forecast for the current financial year.
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