Frankfurt / Main (dpa) - The Dax has not found a clear direction. While investors are still afraid of a second wave of corona as at the beginning of the week, good corporate news brightened the mood somewhat.
The leading German index hovered around the previous day's close and traded 0.16 percent lower at 10,807.52 points at noon. The MDax fell 0.26 percent to 23,804.81 points. The Eurozone leading index EuroStoxx 50, on the other hand, barely moved.
Deutsche Post performed better than expected in sales in the first quarter. The logistics group is doing well in the challenging market environment due to the Covid 19 crisis, wrote Daniel Roeska from the US analysis firm Bernstein Research. Deutsche Post shares rose 3.8 percent at the top of the Dax.
In contrast, the damage and market turmoil resulting from the corona virus pandemic left clear traces in the property and casualty business and in life insurance. At the end of the Dax, the share certificates fell by more than three percent.
Shares in Thyssenkrupp were the clear bottom in the MDax, dropping by almost ten percent. The steel and industrial group stuck in the crisis had slipped even further into the red.
A lower container throughput due to the corona crisis and storms over northern Europe broke into a sharp drop in profits for the Hamburg port operator HHLA in the first quarter. With a minus of around ten percent, the papers took over the red lantern in the SDax small cap index.
Outside the reporting season, the SNP and ProSiebenSat.1 attracted attention. The US financial investor KKR is expanding its investments in the German media industry and has secured shares in the TV station group ProSiebenSat.1. Their shares became the clear leader in the MDax with an increase of 14 percent.
The IT consultant SNP, which has recently been listed in the SDax, had a surprising staff: Former Siemens boss Klaus Kleinfeld left the board of directors after less than a year. The share certificates dropped by almost five percent.
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