Stock exchange in Frankfurt - Dax continues record chase
The Dax set another record high on Tuesday. The leading index climbed to as high as 16,837 points. Investors remained cautious, however, as they were eagerly awaiting US consumer prices on Tuesday shortly before the upcoming interest rate decisions.
As a result, the Dax was down just 0.05% at 16,786.47 points. The year-end rally since the low in October now amounts to almost 15 percent. In 2023, the Dax has even gained 20.5 percent so far. The MDax rose to 26,654.56 points on Tuesday. The eurozone index EuroStoxx gained 0.1 percent.
On the corporate side, attention was focused on Carl Zeiss Meditec following the publication of its financial results. Although the results were not convincing, the outlook was better than recently feared, according to traders. The shares therefore continued their recovery with renewed momentum, rising by 8.7 percent.
Hannover Re also issued statements on its outlook at an investor day in the morning, which were well received with a rise of 1.3 percent.
A sharp drop in Oracle's share price due to a disappointing second quarter left investors in German competitor SAP rather cold on Tuesday. The market said that Oracle had disappointed in an area that is of little importance to SAP. The technology sector, to which SAP belongs, performed relatively well overall on Tuesday with a tailwind from the US Nasdaq stock exchange.
MTU shares in particular showed weakness in the DAX, falling by up to 6.6 percent on Tuesday, but then limiting their decline to 2.5 percent. The issue of engine problems at US partner Pratt & Whitney was once again the subject of heated debate following a media report. Another DAX loser were the 2.2 percent weaker shares of Merck KGaA following a downgrade by the French investment bank Exane BNP Paribas.
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Source: www.stern.de
