Frankfurt / Main (dpa) – Bargain hunters and slightly fewer worries about a collapse of the Chinese real estate company Evergrande have driven the prices on the German stock market in the middle of the week.
The leading index Dax gained 0 in the afternoon, 65 Percent on 13. 448, 32 Points. This almost made up for the losses recorded since the beginning of the week. The MDax of the medium-sized stock market values was also quite friendly with plus 0, 29 percent to 35.087,16 Counter. The European benchmark index EuroStoxx 50 gained 0.9 percent.
In the evening, the US Federal Reserve provided information on its further monetary policy course. With high inflation and advances in the labor market, experts anticipate that the bond purchases initiated in the pandemic to support the economy will soon be reduced. Market participants pay particular attention to information on the exact schedule for this.
Concern about the real estate crisis
The worries about the imbalance of Evergrande and a possible real estate crisis in China had the courses at the beginning of the week still pulled down considerably. Evergrande now claims to have ventured into interest payments. “However, the cow is not off the ice yet,” said analyst Christian Henke from broker IG Losers were clearly uphill again. In the Dax, Deutsche Bank won 3.7 percent as the best value. The index newcomers Zalando and Hellofresh, which are focused on online orders, lost a lot of feathers with discounts of around three percent each.
Ströer rose by 4.5 percent at the top of the MDax. JPMorgan analyst Marcus Diebel remains optimistic about the out-of-home advertising sector, which should benefit from rising passenger traffic at airports and train stations as well as revitalized city centers. The Lufthansa papers were traded ex-subscription rights in the course of the capital increase.
In the SDax small cap index, the stocks of the biofuel manufacturer Verbio slipped by almost 13 percent off. The papers have been among the high-flyers on the German stock market for months. Now the investors cashed in.
The euro barely moved before the decisions of the US Federal Reserve. In the afternoon, the common currency cost 1, 1729 US dollars. The European Central Bank (ECB) set the reference rate on Tuesday afternoon at 1. 1738 dollars.
On the bond market, the current yield fell from minus 0. 37 percent on the previous day to minus 0, 38 percent. The bond index Rex gave up by 0, 01 percent to 144, 97 Points. The Bund future was quoted at minus 0, percent to 171, 61 Points.