Stock exchange in Frankfurt - Dax closes up
After the losses at the beginning of the week, the German stock market bounced back on Tuesday. The Dax gained 0.56% to 16,744.41 points. The MDax mid-cap index rose by 0.94% to 27,156.95 points.
Among the individual stocks, Covestro shares were in focus on Tuesday with a price increase of 1.4 percent. According to sources, the state-owned oil company Abu Dhabi National Oil (Adnoc) wants to improve its informal bid for the chemicals group. The speculation continues to be 60 euros per share. Adnoc also wants to offer a job guarantee for several years and investments of around eight billion US dollars, according to reports.
As announced, Siemens is further reducing its stake in Siemens Energy. As a result, its stake in the company has fallen to 17.1 percent. Siemens shares rose by 2.8 percent, Siemens Energy shares closed 0.8 percent higher.
Shares in Thyssenkrupp Nucera continued their recent rally with an accelerated gain of 12.5 percent. The electrolysis specialist intends to benefit greatly from the rising global demand for climate-neutral hydrogen in the coming years. A report in the "Handelsblatt" newspaper, according to which Germany and six other European countries have pledged to ban all power plants with CO2 emissions from their power grids by 2035, fits in with this.
Internet service provider Ionos aims to further increase its turnover and profit margin in the next two years. The United Internet subsidiary's targets were well received by the market, with shares rising by 6.5 percent.
The leading European index EuroStoxx gained 0.32 percent to 4535.40 points on Tuesday. The leading stock exchange in Paris closed just in the plus, the one in London moderately higher. In New York, both the leading Dow Jones Industrial index and the technology-heavy Nasdaq 100 climbed higher than ever before thanks to continued hopes of interest rate cuts in the coming year. At the close of European trading, both indices were moderately higher.
The euro was trading at 1.0979 US dollars after the close. The European Central Bank (ECB) had set the reference rate at 1.0962 (Monday: 1.0918) US dollars in the afternoon, meaning that the dollar cost 0.9122 (0.9159) euros.
On the bond market, the current yield remained at 2.06 percent. The Rex bond index fell by 0.03 percent to 128.03 points. The Bund future gained 0.50 percent to 137.41 points.
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- Despite the losses at the beginning of the week in Frankfurt, the Stock market in Germany, specifically the Dax and MDax, showed significant improvements.
- Adnoc, the state-owned oil company from Abu Dhabi, has expressed interest in improving its informal bid for Covestro, offering a potential job guarantee for several years and investments of around eight billion US dollars.
- Siemens Energy's stake continues to decrease, with Siemens reducing its share to 17.1%, as announced. This led to a 2.8% increase in Siemens shares and a 0.8% increase in Siemens Energy shares.4.ְ Thyssenkrupp Nucera's shares continued their rally, boosted by the potential global demand for climate-neutral hydrogen and a reported plan by Germany and six other European countries to ban power plants with CO2 emissions by 2035.
- The Frankfurt Stock Exchange, or Frankfurt Exchange, is part of the wider discussion, as its role in the international market, represented by companies like Siemens Energy and Covestro, influences the overall stock market performance, especially when considering the exchange rate with the US dollar.
Source: www.stern.de
