2023-10-10 17:33:04
Frankfurt/Main.
The Dax made the weak start to the week forgotten with a recovery rally on Tuesday. Despite the ongoing fighting between Israel and the Palestinian terrorist organization Hamas, the leading German index gained 1.47 percent to 15,350.62 points in the early afternoon. The MDax of medium-sized companies recovered by 1.58 percent to 25,628.44 points. The Eurozone leading index EuroStoxx 50 rose by 1.6 percent.
The US stock exchanges had already defied the Middle East conflict on Monday and are heading for a little changed opening. According to stockbrokers, the market is being helped by the moderate tone of US central bankers, who have given hope for another interest rate break in the United States.
The news situation on the German stock market was clear on Tuesday. Two orders from the aviation industry with a total volume of 100 million euros brought the shares of the technology group Kontron an increase of 5.5 percent, which meant the top spot in the small cap index SDax.
Zalando conquered the top of the Dax with a further recovery of 4.1 percent. The Canadian bank RBC lowered its price target for the online fashion retailer’s shares, but it remained well above the current valuation level and therefore also received an “Outperform” investment rating. In the Dax, Bayer was able to stabilize somewhat with an increase of 2.5 percent after the recent price losses and the lowest level since November 2020. The bank HSBC had upgraded the shares of the agricultural chemical and pharmaceutical company from “Reduce” to “Hold”.
The current yield on the German bond market remained at 2.82 percent. The Rex bond index rose by 0.23 percent to 123.52 points. The Bund future lost 0.44 percent to 128.87 points.
During trading, the euro slipped back below the $1.06 mark and most recently cost $1.0586. The European Central Bank (ECB) set the reference rate the day before at $1.0531. (dpa)
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