Stock exchange in Frankfurt - Dax picks up speed again
After the previous day's losses, the German stock market recovered on Tuesday. The Dax was up 0.27 percent at 16,696 points around midday. Its record run in the first half of December had already given it a solid lead. The MDax of mid-cap stocks gained 0.73% to 27,102 points at midday on Tuesday. The EuroStoxx 50, the leading eurozone index, rose by around 0.2 percent.
Among the individual stocks, investors focused on Covestro shares, which gained 2.1 percent. According to sources, the state-owned oil company Abu Dhabi National Oil (Adnoc) wants to improve its informal bid for the chemicals group. Speculation is still at 60 euros per share.
Meanwhile, Bayer suffered a defeat in the USA in the legal dispute over the alleged health effects of the chemical PCB, which has been banned for decades. A jury awarded former students and parents of a school in the Seattle area damages in the amount of 857 million US dollars. The plaintiffs blamed the environmental toxin PCB from the US manufacturer Monsanto, which was acquired by Bayer in 2018, for their illnesses. However, investors took the jury's verdict in their stride: The recently badly battered shares were up 0.3 percent.
Siemens continues to reduce its stake in Siemens Energy as announced. As a result, the stake in Siemens Energy AG has fallen to 17.1 percent. Siemens shares rose by 2.3 percent, while Siemens Energy shares stagnated.
Shares in Thyssenkrupp Nucera continued their recent rally at an accelerated pace and climbed to their highest level since the beginning of October. They recently traded 11 percent higher. The electrolysis specialist intends to benefit greatly from the rising global demand for climate-neutral hydrogen in the coming years.
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Source: www.stern.de
