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Stock markets slightly up - DAX recovered minimally
Stocks Frankfurt: DAX recovery stalled, stock market still volatile. Experts analyze the impact on the German economy and international markets. Focus on developments in the technology sector. Euro and bond market also affected.
Stock markets slightly up - DAX recovered minimally
The Dax continued to recover on Wednesday, but was unable to reach its record high of 18,567 points reached at the beginning of the month. With an increase of just 0.1 percent, it was 18,159 points in the afternoon. Despite positive economic data, the DAX lacked momentum after temporarily recording a weekly increase of almost three percent.
The MDax of medium-sized stocks also recorded losses in the middle of the week, mainly due to massive price drops at Evotec, which fell by up to 40 percent to the lowest level in seven years. The outlook for the year as a whole was assessed much more cautiously, which led to a skeptical attitude among investors.
Chip stocks such as Infineon, Aixtron and Elmos, on the other hand, were able to enjoy positive momentum, especially due to better-than-expected quarterly figures from the US group Texas Instruments and a general recovery in the technology sector.
Redcare shares also rose about 3 percent. The online pharmacy will present its quarterly figures on Thursday. Although the shares had temporarily risen significantly following positive news about e-prescriptions, they gave up the majority of their gains.
The shares of Deutsche Börse, however, were unable to benefit from the previous evening's business figures. Although the operating result exceeded expectations, the shares fluctuated around the previous day's level and ultimately lost over two percent.
The euro was trading at $1.0687 in the afternoon, while the current yield on the bond market rose to 2.58 percent from 2.53 percent the day before. The Rex bond index fell by 0.25 percent to 124.08 points, while the Bund future fell by 0.5 percent to 130.32 points.