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The Dax recovery continues
Thanks to SAP, the DAX rises to over 18,000 points! Find out everything about the positive development of the leading index and the software group's quarterly figures. Optimism characterizes the stock market.
The Dax recovery continues
Der DAX setzte seinen positiven Trend fort und stieg am Dienstag um 0,9 Prozent in den ersten Handelsminuten, wodurch er zeitweise über 18.000 Punkte kletterte. After three weak weeks, the DAX was able to stabilize near its 50-day average line, but remained well below its record high of 18,567 points at the beginning of the month. The MDAX of medium-sized companies also recorded an increase of 0.8 percent to 26,504 points. The EuroStoxx 50, the leading index for the Euroregion, also rose by 0.8 percent.
SAP's quarterly figures created a positive mood at the start of the reporting season. The analysts reacted optimistically to the software company's figures. In particular, the increase in cloud sales by almost a quarter in the first quarter was viewed positively. SAP shares, struggling after falling more than 11 percent from their record high in late March, rose about 5 percent to lead the DAX.
Despite higher costs for share-based compensation programs due to the increased stock market value, Europe's largest software manufacturer recorded an increase in operating profit. However, restructuring costs of 2.2 billion euros led to an overall loss. Nevertheless, SAP confirmed its forecasts for the current year and was optimistic about continued good business growth in the cloud segment. The restructuring of the company according to the planned measures should help to increase efficiency and further drive growth.