2023-11-14 20:23:37
Frankfurt/Main.
Encouraging inflation data from the USA boosted the German stock market on Tuesday. The leading index Dax extended its gains and closed 1.76 percent higher at 15,614.43 points. This was the first time in around seven weeks that it managed to exceed the 15,600 point mark.
The MDax of medium-sized companies benefited even more from the US inflation data: it ended trading with an increase of 3.29 percent to 26,245.40 points.
Inflation in prices in the USA weakened noticeably in October. Consumer prices rose significantly less than in the previous month and also slightly less than economists expected. Core inflation, which economists pay particular attention to, also fell.
The most important European indices also rose according to data from the United States: the Eurozone index EuroStoxx 50 ultimately gained 1.4 percent and the French Cac 40 also rose sharply. The British FTSE 100, however, only managed a moderate increase. The New York leading index Dow Jones Industrial gained a good 1.6 percent at the end of European trading.
Real estate stocks and other interest-sensitive stocks were particularly in demand on the German stock market. Vonovia was one of the biggest DAX winners with a share price increase of 8.3 percent. Its industry colleagues were also among the most in demand in the MDax and the small cap index SDax.
Dax leader Zalando gained 10.6 percent. Stocks that are highly dependent on growth, such as those of the online retailer, benefit from lower interest rates just as clearly as real estate stocks. RWE shares, which had already been driven by good business figures, also received an additional boost from the data and ended 3.7 percent higher. The important business with capital-intensive alternative energies is likely to play a role here.
According to quarterly figures, ProSiebenSat.1 and Delivery Hero took the top places in the MDax with price premiums of 12.7 and 10.4 percent respectively. In the case of the media group, investors’ relief that it wants to achieve operating profit at least at the lower end of the annual target range outweighed the capped sales outlook. The food delivery service was particularly impressive with the good development of gross merchandise value, for which it is now aiming for the upper end of the previous growth target range.
In contrast, a possible capital increase to finance a takeover caused the shares of the defense electronics manufacturer Hensoldt to fall by four percent at the end of the MDax.
The euro jumped following the inflation data and was last trading at $1.0762. The European Central Bank (ECB) set the reference rate at $1.0724.
The current yield on the German bond market remained at 2.72 percent. The Rex bond index fell by 0.03 percent to 123.58 points. The Bund future rose by 0.86 percent to 130.86 points. (dpa)
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