Frankfurt Stock Exchange
Significant gains in the Dax at the beginning of the week
The Dax is the most important stock index in Germany. Photo: Fredrik von Erichsen/dpa
© dpa-infocom GmbH
The Dax started the new week with fresh momentum. In view of a price jump in the shares of the chemical group BASF, the leading German index significantly expanded its moderate gains from Friday in early trading and rose by 1.19 percent to 14,476.69 points.
The Dax started the new week with fresh momentum. In view of a price jump in the shares of the chemical group BASF, the leading German index significantly expanded its moderate gains from Friday in early trading and rose by 1.19 percent to 14,476.69 points.
The MDax of medium-sized stock exchange groups rose by 1.25 percent to 31,560.61 points. The leading eurozone index, the EuroStoxx 50, rose by 1 percent.
“The sharply falling crude oil prices are taking some pressure off the inflation dynamic,” wrote Andreas Lipkow, market expert at Comdirect. However, one of the biggest stock market issues remains the war situation in Eastern Europe. “The rhetoric against Russia is getting sharper,” said a comment from the bank Credit Suisse.
On Monday, however, the economically sensitive chemical stocks recorded the clearest gains across Europe. At the top of the Dax, BASF shares benefited from a positive analyst comment from the British investment bank HSBC and rose by 3.7 percent. The expert Martin Evans attests the papers an attractive ratio between chances and risks.
In the legal dispute over compensation payments because of the bursting of the car toll, the federal government has meanwhile suffered a defeat. As reported by the originally planned operators CTS Eventim and Kapsch Trafficcom, an arbitral tribunal affirmed a claim for damages and reimbursement of expenses against the Federal Republic. In a second phase of the arbitration procedure, the amount of the claim will now be decided. The shares of CTS Eventim, the best value in the MDax, rose by five and a half percent.
At the end of the index, Varta’s shares lost more than three percent. A report in the Japanese daily newspaper “Nikkei” about reduced production of Apple products proved to be a burden. The manufacturer of micro batteries Varta is considered the battery supplier for Apple’s wireless headphones.