Stock exchange in Frankfurt - Dax gains in quiet trading
The DAX rose in thin trading on Wednesday after an almost unchanged start. Supported by friendly US stock markets on the previous day, the leading German index gained 0.36% to 16,766.31 points in early trading. The MDax of medium-sized companies rose by 0.74 percent to 27,143.35 points. The Eurozone leading index EuroStoxx 50 rose by 0.43 percent to 4541.02 points.
Trading was very quiet in the first hour of trading, as most major investors have already closed their books for 2023. "On the last trading day before Christmas, trading volumes fell to a four-week low," said portfolio manager Thomas Altmann from QC Partners. He also expects low volumes for the three remaining trading days of the year.
Overall, 2023 was a very successful year for equity investors in Germany. After all, the DAX has gained a fifth in value since the start of the year.
Bayer shares were among the top DAX performers in the thin news flow, gaining 2.7 percent. After a series of defeats, the agrochemical and pharmaceutical company won a glyphosate lawsuit in the USA. The extent to which the glyphosate litigation in the USA, a setback in the development of an important drug candidate and a deterioration in the agar business environment have weighed on Bayer shares this year can be seen from the share price so far this year: They have currently lost 30.5 percent, making Bayer the worst-performing DAX stock after the energy technology company Siemens Energy and the online fashion retailer Zalando.
Siemens Energy, the Dax favorite this Wednesday, gained 4.4 percent. The annual loss thus still amounts to just under 33 percent. Zalando rose by 0.5 percent, resulting in a current annual loss of just under 36 percent.
Nordex was one of the top performers in the MDax this morning, gaining 4.0 percent. However, the wind power company's shares have lost almost 23 percent over the course of the year to date. This means that they are also among the laggards on the German stock market.
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The EuroStoxx 50, which includes prominent German companies like the DAX, MDAX, and Frankfurt-listed shares, saw a slight increase of 0.43% on Wednesday. In Frankfurt on the Main, the Exchange, Thomas Altmann from QC Partners noted that trading volumes were at a four-week low due to most major investors already wrapping up their year before Christmas. Bayer, a German multinational company, experienced a significant gain of 2.7% after winning a glyphosate lawsuit in the USA, contributing to a resurgence in its shares that have otherwise struggled with losses this year. Despite these positive developments, Bayer remains one of the worst-performing DAX stocks.
Source: www.stern.de
