The German stock market started the second half of the year with a recovery after the clear losses on the previous day.
Tailwind comes from Wall Street.
Frankfurt / Main - There the technology-heavy Nasdaq 100 index and the market-wide S&P 500 reached further records on Wednesday.
The retail sector in Germany, meanwhile, increased sales significantly in May and recovered from the dampening in the previous month.
The Dax traded 0.56 percent higher at 15,617.71 points around noon.
In the first half of the year, the leading German index had a strong performance with an increase of more than 13 percent.
The MDax of the medium-sized stock market values rose on Thursday morning by 0.38 percent to 34,179.06 points.
The EuroStoxx 50, the leading index for the Eurozone, gained around 0.5 percent.
“It remains exciting to see whether the second half of the stock market can use the momentum from the first half of the year and thus rise again towards the previous record high.
This course trip will certainly not be free, because there are many stumbling blocks on the way there, ”commented market expert Andreas Lipkow from Bank Comdirect.
From an industry perspective, steel stocks were particularly popular on Thursday. The shares of Thyssenkrupp, Salzgitter and Klöckner & Co benefited from an analyst study and posted price increases of between 1.7 and 3.4 percent. Analyst Bastian Synagowitz from Deutsche Bank said he was positive about European steel stocks. Supported by recovering domestic demand, price increases in Europe, the USA and other markets would have pushed steel producers' margins to record levels
An announced capital increase by Nordex alienated the investors of the wind turbine manufacturer. The shares plummeted by more than 11 percent. Nordex intends to issue almost 42.7 million new shares for EUR 13.70 each via a rights issue. Among other things, this is intended to finance future growth. The surprising capital increase by the North Germans is unlikely to be well received by the market, but the balance sheet will be significantly strengthened, commented Jefferies analyst Constantin Hesse.
The shares of LPKF came under considerable selling pressure with a minus of 6.9 percent and were thus the biggest loser in the small cap index SDax. Analyst Alina Köhler from the private bank Hauck & Aufhäuser (H&A) considers the timing of a larger order to be “critical” in order to achieve the market forecasts for sales and earnings (EBIT) in the current year.
Investors reacted with horror to the final study data on Curevac's corona vaccine candidate. On Tradegate the papers collapsed by 13.4 percent. Despite the vaccine candidate's effectiveness of only 48 percent, analyst Zhiqiang Shu from Berenberg Bank assessed the outcome of the study as positive. Curevac appears to have performed worse than other mRNA vaccines, but the phase 3 study was tested in a “diverse environment”. The results should be sufficient for the candidate to be approved. dpa
