SAP price gain helps Dax on the jumps

Frankfurt / Main (dpa) – Inspired by a jump in the share price of the stock market heavyweight SAP, the Dax continued to gain ground on Wednesday. The German benchmark index closed at midweek 0, 50 percent higher at 15. 249, 38 points. The MDax of the medium-sized stock market values ​​gained 0, 38 percent to 33. 757, 26 Counters and also the major European stock exchanges mostly increased.

The increased energy prices, which are further fueling inflation in Germany, moved the German stock market hardly this day. For the first time in almost years, the annual rate of inflation exceeded the four percent mark in September and also in the US inflation continued to rise.

With a plus of 3.9 percent, SAP shares were among the favorites in the Dax. The annual targets, which were raised for the third time this year, provided relief and share purchases. Analysts particularly praised the strong development of the cloud business in the surprisingly good third quarter of Europe’s largest software manufacturer.

Following an analyst recommendation, Sartorius shares continued to recover from their latest setback and were up 4 , 2 percent on 522, 40 Euro Dax- Peak value. Analyst Oliver Reinberg from Kepler Cheuvreux signaled further recovery potential for the papers of the laboratory equipment supplier and pharmaceutical supplier with his target price of 555 euros. He expects the impressive growth trend to continue and also 2022 to become very dynamic.

Bank stocks, however, fell significantly in the course of the afternoon. Deutsche Bank’s paper slumped 4.3 percent to the bottom of the leading index. In the MDax, Commerzbank shares were at the bottom with minus 5.5 percent. After winning until the early afternoon, things gradually went down. The trigger is likely to have been the quarterly report from JPMorgan. The recovery of the economy from the corona crisis brought the major US bank a surprisingly high surplus in the summer, but according to stockbrokers, subdued credit growth and declining trading income overshadowed the figures.

The papers moved below the second-tier stocks of the biofuel manufacturer Cropenergies according to the final figures presented for the second fiscal quarter and confirmed annual targets with a price slide of 11, 5 percent in focus. According to LBBW analyst Thomas Hofmann, it was primarily the significant increase in energy prices and thus the uncertainties about the predictability of business development that would have frightened Eurozone leading index EuroStoxx 50 by 0, 70 Percent on 4083, 28 points. Similarly, the Cac 40 in Paris increased. In London, however, the FTSE 100 only rose moderately and in the USA the picture was mixed. The Wall Street Index Dow Jones Industrial fell by 0.5 percent at the close of European trading, while the technology-heavy Nasdaq stock market gained 0.5 percent.

The euro rate rose to 1. 1568 U.S. dollar. The European Central Bank set the reference rate at 1, 1562 (Tuesday: 1, 1555) dollar. The dollar cost 0, 8649 (0, 8654) euros. On the bond market, the current yield remained at minus 0. 23 percent. The Rex bond index fell by 0, percent to 143,82 Points. The Bund future gained 0, 26 percent to 168,83 Points.

Related Articles

Back to top button