The Dax hit another all-time high mid-week. With 18,044 points, it is slightly above the previous record from last Thursday. On Wednesday, for the first time, the main German index stood above the round mark of 18,000 points at the end of trading, with an increase of 0.15 percent to 18,015.13 points. The MDax of medium-sized stock companies closed the day with a gain of 0.07 percent, up to 26,264.30 points.
The US Federal Reserve wanted to announce its usual interest rate decision in the afternoon (CET). No change in key interest rates was expected.
According to analysts, BASF is strong and its shares gain 2.5 percent
However, investors are awaiting indications on when the first reduction will occur and, above all, how much central bankers will increase interest rates throughout the year. Financial markets continue to hope that the Federal Reserve can cut interest rates in June. However, lately doubts have increased in this regard. After all, price inflation in the US had recently unexpectedly accelerated again.
At the top of the DAX, BASF rose 2.5 percent thanks to positive statements from analysts. “Now or never,” Berenberg insider Sebastian Bray captioned his stock upgrade. There could be no better sales pitch than the beginning of recovery from the worst sales crisis in the European chemical industry in decades.
Profit collection at Rheinmetall
Rheinmetall shares paid tribute to their recent record recovery with a loss of 2.1 percent. Investors followed the example of CEO Armin Papperger, who had disposed of securities worth almost five million euros the day before. So far this year alone, Rheinmetall shares, as the best stocks on the DAX, have already gained more than 66 percent.
A positive assessment by Citigroup on Jungheinrich's upcoming business figures caused the forklift manufacturer's shares to rise by four percent on the MDax. Analyst Vivek Midha gave the stock “Positive Catalyst Watch” status before financial results were reported on March 28, meaning he expects good news from Jungheinrich.
Deutz at the top of the SDax
At the top of the small-cap SDax index, shares of engine maker Deutz recovered from their price caper after the previous day's annual report with a plus of 6.7 percent. In contrast, PVA Tepla shares, which were only strong at the beginning, fell by more than six percent. The key data and annual targets confirmed by the technology company were not enough to achieve a sustainable recovery.
The eurozone's leading index, EuroStoxx 50, closed with -0.15 percent, just over 5,000 points. The French Cac 40 fell approximately half a percentage point and the British FTSE 100 ended the day little changed.
In New York, the main barometer Dow Jones Industrial and the Nasdaq 100 technology index were around the closing prices of the day before the European stock market closed.
Current yield drops to 2.46 percent
The euro fell slightly ahead of major monetary policy decisions in the US. The common currency last traded at $1.0857. In the afternoon, the European Central Bank (ECB) set the reference exchange rate at 1.0844 (Tuesday: 1.0854) dollars. Therefore, the dollar costs 0.9221 (0.9213) euros.
In the bond market, the current yield fell from 2.48 percent the day before to 2.46 percent. The Rex bond index rose 0.04 percent to 124.76 points. Bund futures gained 0.09 percent to 131.92 points.