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Bitcoin:
The cryptocurrency gained more than 20 percent in value within four trading days
Photo: CRISTOBAL HERRERA-ULASHKEVICH / EPA
Price rally on the crypto market: The cryptocurrency Bitcoin expanded its price gains on Wednesday and rose above the mark of 51,500 US dollars in the morning. Bitcoin and other cyber currencies continued to benefit from growing inflation concerns among investors. Most recently, Bitcoin was listed at $ 51,800 on the Bitstamp trading platform. Bitcoin has gained more than 20 percent in value within four trading days. The market value of all around 12,000 crypto investments rose again over the mark of two trillion dollars.
The course of the cyber currency had recovered significantly, especially since Friday.
Other crypto stocks such as Ether, Cardano or XRP also increased significantly.
At a hearing on Friday, US Federal Reserve Chairman Jerome Powell promised to regulate digital currencies, but not to ban them.
The attitude is much more moderate than the efforts of the Chinese political leadership, which is very critical of private-sector digital currencies.
Just a few days ago, the Chinese central bank had emphasized that trading in crypto values was illegal.
China has long been striving for its own state-controlled digital currency.
The digital yuan is considered to be very advanced in development and is already being tested in practice.
Dax starts recovery attempt
The German stock market recovered on Tuesday from its clear previous day's losses and gained noticeably in the wake of the firmer Wall Street.
After three consecutive days of losses, the Dax closed with a gain of 1.1 percent at 15,194 points.
The MDax of the medium-sized stock market values gained 0.6 percent to 34,022 points.
The US stock exchanges received a boost from unexpectedly strong US economic data.
The mood in the US service sector surprisingly brightened in September.
The purchasing managers index of the Institute for Supply Management (ISM) rose compared to the previous month, while experts had expected a decline.
Accordingly, the Dow Jones Industrial in New York recently rose by around 1.3 percent.
The other leading European exchanges also saw an upward trend on Tuesday.
The leading Eurozone index EuroStoxx 50 advanced by 1.73 percent to 4,065.43 points.
The Paris Cac 40 climbed by around 1.5 percent and the London FTSE 100 by around 0.9 percent.
Infineon increases prognosis
Regardless of the current upswing, the stock market is facing a difficult autumn according to Axel Botte, market strategist at the investment house Ostrum Asset Management: "Given the sharp rise in energy prices, growth difficulties in China and weak economic surveys, investors must expect higher price fluctuations in the fourth quarter." The strategy of some investors, which has been successful so far this year, of buying in when prices have fallen, is reaching its limits.
Positive news came from Infineon: The semiconductor manufacturer expects increasing sales and results for the coming fiscal year.
The targets are above the current expectations of the analysts, wrote Sandeep Deshpande of the US investment bank JPMorgan.
Infineon is currently profiting from the booming demand for chips.
The shares of the semiconductor manufacturer rose as the biggest winner in the Dax by 4.8 percent.
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In contrast, the often corona-related scarcity of computer chips is affecting more and more companies in many areas of the economy.
New business collapsed at the IT leasing specialist Grenke.
According to the company, this was due to global delivery bottlenecks, especially at manufacturers of computer and office technology.
The shares fell 6.7 percent.
Hellofresh's stocks stopped their most recent slide and rose 3.6 percent.
In spite of massive investments, the cash in hand of the cooking box supplier is so ample that investors could participate via share buybacks, wrote analyst Sarah Simon from the private bank Berenberg.
At the end of the MDax, Rational's shares lost 4.8 percent.
Because of delivery problems, there is a question mark behind thousands of oven deliveries at the commercial kitchen supplier, wrote analyst Sebastian Kuenne from the Canadian bank RBC.
Robust US economic data are depressing the euro
The euro gave way on Tuesday.
In the afternoon, the common currency cost $ 1.1590.
In early trading, it was still above $ 1.16.
Last week, the euro fell to its lowest level since July 2020 at $ 1.1563.
The European Central Bank (ECB) set the reference rate in the afternoon at 1.1602 (Monday: 1.1636) dollars.
The dollar cost 0.86192 (0.85940) euros.
The euro was also weighed down somewhat by robust economic data from the USA.
US stock exchanges: Dow Jones and Nasdaq clearly in the black
The US stock exchanges went on a recovery course on Tuesday.
Shortly after the start of trading, support came from the better-than-expected sentiment data from the service industry.
However, market observers see more of a backlash in the rising prices after the setback at the beginning of the week.
It is said that the recovery is mainly due to the recently particularly weak technology stocks.
According to them, the market will remain ailing for the time being.
Oil prices just below multi-year highs
Oil prices continued near their multi-year highs on Wednesday.
In the morning, a barrel (159 liters) of North Sea Brent cost US $ 82.75.
That was 19 cents more than on Tuesday.
The price of a barrel of the American West Texas Intermediate (WTI) rose 15 cents to $ 79.08.
The oil prices are therefore not far from their highs marked the day before.
Brent had risen to a good $ 83, its highest level in three years.
US crude oil cost significantly more than $ 79, as much as it has not been since 2014.
Crude oil prices are boosted by a mixture of cyclical high demand and scarce supply.
Although expected by some experts, after a decision made on Monday, the Opec + oil network remains on course and is not expanding its production more than planned.
That had given oil prices an additional boost.
with news agencies