Dax after attack on Israel: Investors rely on de-escalation

Dax after attack on Israel: Investors rely on de-escalation

After Iran's attack on Israel, the DAX recorded a recovery on Monday and initially rose to almost 18,200 points, but ultimately closed with an increase of 0.56 percent at 18,026.58 points. The MDax of medium-sized stocks, on the other hand, lost 0.49 percent to 26,447.14 points. In New York, the stock exchanges rose slightly at the close of European trading. The EuroStoxx 50 gained 0.59 percent to 4,984.48 points, while Paris recorded moderate gains and London recorded slight losses.

Strong US retail sales in the afternoon added to the positive sentiment and showed a robust US economy. However, this could mean that investors need to lower their expectations of interest rate cuts in the near future. The Middle East conflict led to nervousness, but investors remained calm about a possible de-escalation. Investors reacted with relief that Iran's attack on Israel was not more serious and that Iranian missiles could be repelled.

A positive investment recommendation from US bank Morgan Stanley for Adidas led to an increase of 4.2 percent. The sporting goods manufacturer's shares were traded at the top of the Dax. Lufthansa, on the other hand, had to cope with a decline of 4.6 percent after adjusting its profit forecast for 2024 due to numerous strikes in aviation. In the SDax, Südzucker shares fell by 3.1 percent, while Varta lost a further 8.4 percent in the small cap index after a loss of over 30 percent on Friday.

After the market closed, one euro cost 1.0643 US dollars. The European Central Bank (ECB) set the reference rate at $1.0656. On the bond market, the current yield remained at 2.43 percent, while the Rex bond index rose by 0.10 percent. The Bund future lost 0.60 percent to 131.71 points.