Investors in the German stock market remained confident on Tuesday. The leading index Dax continued its strong start to the week and continued to grow.
However, part of the profits crumbled in the late afternoon, when the Wall Street index Dow Jones Industrial in the USA turned moderately into the red after a friendly start.
With an increase of 1.27 percent to 10,795.63 points, the German stock exchange barometer went out of the day. Shortly before the US stock market launch, it had climbed to a new recovery high at just under 10,900 points since the low in the Corona crash in mid-March. The MDax rose 1.03 percent on Tuesday to 22,817.07 points, and the stock exchanges across Europe closed in a friendly manner.
The leading Eurozone index EuroStoxx 50 ended the day with an increase of 1.73 percent to 2932.06 points. The main indices in Paris and London were similarly firm. In the US, the Dow hovered between light gains and losses at the European close, while the technology-heavy Nasdaq exchanges weakened.
Once again, Wirecard’s papers caught the eye in the Dax. The hoped-for relief from the KPMG special audit of the balance sheet failed to materialize. Analysts complained about numerous unanswered questions and legal uncertainties. The stock plunged by around 26 percent, which means that much of the strong recovery gains since the Corona stock market crash vanished.
The Lufthansa share certificates fluctuated strongly and finally rose by 2.1 percent. Potential market aid for the airline, which was badly hit by the Corona crisis, would not only be seen positively, it said on the market. Among other things, it became known that Lufthansa is also considering self-administered bankruptcy. It was only on Thursday that the group admitted that it could no longer save itself from the crisis on its own.
In the MDax, Siltronic stocks rose by almost 10 percent thanks to solid figures for the first quarter and a positive outlook for the current second quarter. In addition, the wafer manufacturer is sticking to the dividend despite the corona crisis. ProSiebenSat.1’s shares went up by a good 13 percent. There was speculation on the market about a takeover by major shareholder Mediaset, which already owns 24 percent of the German media company.
Kion’s shares, on the other hand, fell 7.0 percent after a disappointing operating profit for the forklift manufacturer in the MDax end. In view of the almost 17 percent jump in Ceconomy’s share price in the SDax, it was said on the market that it was hoped that the regulations issued because of the virus crisis regarding the closing of shops with an area of more than 800 square meters would soon fall will.
On the German bond market, the Rex bond index fell 0.14 percent to 144.57 points. The current yield rose from minus 0.47 percent the previous day to minus 0.44 percent. The Bund Future increased by 0.21 percent to 172.78 points. The euro was trading at $ 1.0837 in the early evening. The European Central Bank set the reference price at $ 1.0877 (Monday: 1.0852). The dollar thus cost 0.9193 (0.9214) euros.