Dax Follows the Positive US Guidelines

The evening before, the Dow Jones Industrial closed almost at the high for the day, which is now also supporting prices in this country

The Dax followed the good guidelines from the USA on Wednesday. After a good half hour of trading, the leading index rose by 0.51 percent to 14,225.31 points. The MDax only just managed to gain 0.01 percent to 30,725.92 points.

The Eurozone index EuroStoxx gained 0.3 percent. The evening before, the Dow Jones Industrial had almost closed at the high for the day, which is now also supporting prices in this country. The key issues on the trading floor remain the prospects for inflation and interest rates, the war in Ukraine and the corona situation in China.

Meanwhile, the slow start of the quarterly reporting season from companies is delivering mixed signals. Because the streaming provider Netflix had to cope with a quarter of customer dwindling for the first time in more than ten years, the share collapsed by more than a quarter in after-hours trading in the USA. However, expert Thomas Altmann from QC Partners believes that the market as a whole can take it. He sees the waning pandemic as an indication of a normalization of life. “And that’s positive for the majority of listed companies,” says the expert.

Positive signals from the chemical company Lanxess, which had a surprisingly good start to the new year, match Altmann’s assessment. The experts from UBS and the analysis house Jefferies referred to a better than expected operating result in their first comments. Shares rose 3.8 percent.

The Siemens Energy shares, which are now also listed in the MDax, fell by 4.5 percent in the index of medium-sized German stocks. The energy technology group continues to suffer from its wind power subsidiary Gamesa, whose papers in Madrid slipped by four percent. Like Gamesa, the Munich parent company is now examining its annual forecast.

Wind power values ​​were generally not in demand on Wednesday. The industry, which actually benefits from the energy transition, is struggling with the problem of rising costs. The German Gamesa competitor Nordex fell by 2.1 percent. The fact that the plant manufacturer booked slightly fewer orders in the first quarter than a year earlier had a negative impact here.

Two initially clear losers in the Dax came – in line with Netflix’s performance – from the area of ​​​​the former pandemic beneficiaries. While the stocks of the meal kit supplier Hellofresh made it just into the plus, the stocks of Delivery Hero stayed in the red with 0.4 percent. Because the reopening of the catering trade is a burden, the competitor Just Eat Takeaway cut its volume forecast for this year.

 

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The evening before, the Dow Jones Industrial closed almost at the high for the day, which is now also supporting prices in this country

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