Just below the DAX's all-time high, investors hit the brakes again on Wednesday. After the main German index was 25 points from its record of 18,567 points, it ran out of momentum. At the end of trading it claimed an increase of 0.37 percent to 18,498.38 points.
Significant price increases by some reporting companies, especially Siemens Energy, turned out to be supportive. The MDax of mid-sized stock companies finally gained 0.50 percent to 26,695.33 points in the middle of the week.
Siemens Energy shares gain double digits according to numbers
The eurozone's leading index, EuroStoxx 50, rose 0.4 percent. Prices also continued to rise in Paris and London. New York's leading Dow Jones Industrial index and the tech-heavy Nasdaq 100 index were little changed at the end of European trading.
Siemens Energy shares rose almost 13 percent at the top of the DAX after the energy technology group raised its annual forecast after a strong second quarter and sent better news again after numerous profit warnings. Experts especially praised the fact that the company now expects a full-year cash influx. The restructuring plan is also underway for troubled daughter, wind energy subsidiary Gamesa.
The difficult industrial environment weighs on BMW and Continental
There were also positive reactions to the results of Munich Re and Henkel, as evidenced by share price increases of 3.2 and 2.9 percent respectively. At Henkel, investors welcomed the confirmation of previously published quarterly figures. According to DZ Bank expert Thorsten Wenzel, Munich Re's combined property and casualty reinsurance ratio is excellent.
In contrast, BMW's figures found a negative response in the market with -2.9 percent. Above all, the surprisingly weak profitability dampened morale, not just at the Munich automaker, but across the sector. According to the figures, car supplier Continental also contributed to the worsening mood, with its share price falling 3.2 percent.
Puma, Jenoptik and Knorr-Bremse convince with their numbers
On the MDax, shares of Puma, Jenoptik and Knorr-Bremse were the most in demand, with price increases of up to almost 11 percent. The sporting goods maker expects further momentum after a weaker first quarter and spoke of a strong start to the current quarter.
But there were also big MDax losers with SMA Solar, Carl Zeiss Meditec and Bechtle. At inverter maker SMA, whose shares lost 6.7 percent at the bottom of the index, weak demand due to customers' warehouses being full slowed growth.
Auto1 shares gain 28 percent after expected increase
In the small-cap SDax index, Auto1 shares sparked a price rise of a good 28 percent after the used car dealer raised its profit forecast. Borussia Dortmund shares rose 6.3 percent. The football club had once again increased its profit forecast after reaching the Champions League final.
By contrast, SAF-Holland, the SDax's worst performer, lost 6.9 percent of its value. One stockbroker justified this with profit-taking, triggered by disappointing expectations for the commercial vehicle supplier's North American business. Investors in web hosting provider Ionos cashed in after a record hunt: shares fell 6.5 percent.
The current yield remains at 2.49 percent
The euro showed little movement, most recently at $1.0756. The European Central Bank (ECB) had previously set the reference rate at $1.0743.
In the bond market, the current yield on German securities remained at 2.49 percent. The Rex bond index fell 0.03 percent to 124.66 points. The Bund future lost 0.23 percent to 131.37 points.