German stocks: DAX still looking for direction

German stocks: DAX still looking for direction

The German stock market was initially looking for direction in Thursday trading. The DAX started trading at 17,775.41 points, the leading index subsequently settled into the profit zone and was most recently quoted at 17,837.40 points with an increase of 0.38 percent. Investors in both Asia and Europe resisted the US impulse to dump technology stocks. Wall Street closed little changed in the middle of the week, while the Nasdaq fell significantly.

There is a real sway on the German stock market. Of the twelve trading days after Easter, six were positive and six were negative for the DAX. Portfolio manager Thomas Altmann from QC Partners notes that the stock market barometer is still looking for a clear direction after the long rally. From a chart perspective, the moving 50-day line of the DAX currently represents an important support.

The focus of the individual stocks was the pharmaceutical and laboratory supplier Sartorius, which caused unrest with weak figures for the first quarter. In contrast, the paper from AIXTRON, a plant manufacturer for the chip industry, stood out positively. Speculation about weaker business with silicon carbide (SiC) manufacturing plants was debunked. Sixt shares also rose as Deutsche Bank upgraded the stock to Buy and forecast positive earnings momentum later in the year.

Despite dominant interest rate concerns and the Middle East conflict, the DAX closed on a positive note. Analysts note that a possible escalation in the Middle East could weigh on stocks in the short term, but Sixt does not have direct exposure to the region. Stock market sentiment therefore remains divided as investors continue to pay attention to developments in various sectors.