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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- The tech giant Oracle experienced a significant drop in its share price due to disappointing second-quarter results, which had a dampening effect on investor sentiment towards SAP, a leading German competitor in the same sector, located in Frankfurt on the Main.
- Frankfurt, home to the Frankfurt Stock Exchange where the DAX and MDAX indices are traded, has seen the Dax and MDAX reach record highs and continuous record chases throughout 2023, and German companies like SAP and Oracle are significant contributors to these indices.
- The Frankfurt Stock Exchange is Germany's leading financial hub, and the interest rates and monetary policies of central banks globally, including in Germany, have an impact on the trading of stocks, like SAP, Oracle, and others, in Frankfurt.
- To attract foreign investors and accelerate the digital transformation, the German government is investigating the possibility of lowering taxes for tech companies, such as Oracle and SAP, headquartered in Frankfurt on the Main.
- The Dax, DAX, MDAX, and other indices on the Frankfurt Stock Exchange, which include companies like SAP and Oracle, are closely monitored globally as leading indices, reflecting the overall health and trends of Germany's economy and financial markets.
- The Frankfurt Stock Exchange is a major platform for record hunts and financial trading, with indices like the DAX and MDAX constantly competing for new record levels, and companies like SAP and Oracle contributing significantly to these indices.
- With SAP and Oracle being among the key contributors to index performance on the Frankfurt Stock Exchange, and Frankfurt being a significant global financial hub, investor interest in these technologies and companies continues to remain high, leading to continuous record-breaking performances.
Source: www.stern.de
