The Dax stabilized on Thursday. At the close of the session, the main German index gained 0.38 percent, to 17,837.40 points. The MDax of the middle stock market shares increased by 1.01 percent to 26,189.44 points.
The indices followed the trend of the New York stock markets in the afternoon. There, the Dow Jones and the Nasdaq rose moderately at the close of the European stock markets. The EuroStoxx 50, the leading euro zone index, closed with a gain of 0.46 percent at 4,936.57 points. The negotiation day also ended on a friendly note in Paris and London.
Sartorius figures disappoint, shares fall 15.4 percent
Since Easter, the stock market has trended downward. Market participants doubt this is yet the start of a positive change given the lack of geopolitical progress, a lackluster reporting season and disillusionment with interest rates. For capital market strategist Jürgen Molnar, the correction is far from over. “In the best case scenario, we would be right in the middle,” he summarizes. “Stabilization yes, recovery no.”
Among individual stocks, pharmaceutical and laboratory products supplier Sartorius surprised investors with first-quarter figures. Although expectations for this year were confirmed, the shares fell at the end of the DAX by 15.4 percent.
Sixt benefits from Deutsche Bank study
Adidas shares continued their hot streak after the latest expected rise, gaining another 2.7 percent. Shares in consumer goods group Henkel rose one percent and benefited from the fact that Deutsche Bank abandoned its sell recommendation.
On the MDax, Sixt's ordinary shares rose 9.7 percent, also boosted by a study by Deutsche Bank. Analyst Michael Kuhn recommends buying and justifies this with the increasing earnings dynamics throughout the year.
Current yield falls to 2.49 percent
The statements of the main Italian shareholder, MFE, put an end to speculation among ProSiebenSat.1 investors about an acquisition of the media group. Stocks listed on the SDax small-cap index that performed well this year fell 6.7 percent. According to the Reuters news agency, Marco Giordani, CFO of MFE, stated that there are currently no plans to acquire ProSiebenSat.1.
The euro last traded at $1.0655. The European Central Bank set the reference rate at $1.0679 in the afternoon. In the bond market, the current yield fell from 2.52 percent the day before to 2.49 percent. The Rex bond index rose 0.14 percent to 124.68 points. The Bund future lost 0.29 percent to 131.12 points.