Enlarge image
Stock exchange in Frankfurt:
The Dax has recovered slightly
Photo: DANIEL ROLAND/ AFP
The German stock market continued its recovery course from the previous day on Wednesday.
The Dax expanded its gain from early trading and was 1.54 percent higher at 15,478 points around noon.
The MDax for medium-sized stocks increased by 1.92 percent to 33,896 points.
The EuroStoxx 50, the leading index for the euro zone, rose by around 1.7 percent.
Among the biggest gainers were shares in Porsche and Volkswagen, with gains of between 5 and 7 percent.
"Interest worries are currently taking a back seat," commented one stockbroker.
However, the technical analyst Martin Utschneider from the private bank Donner & Reuschel points out that the technical market warning and weakness signals are still intact.
The Dax recently fell below important supports.
Car maker in demand - speculation about Porsche going public continues
In a car sector that is growing overall, Porsche and Volkswagen are stepping on the gas.
Dealers refer to the mind games that have been circulating for a long time about a possible IPO of the sports car manufacturer Porsche.
Indications as to whether this will happen are expected in March.
The titles of the holding company Porsche SE surged to the top of the Dax with a price increase of 7.3 percent to 84.12 euros, closely followed by VW with six percent.
Since the beginning of December, Porsche SE shares have increased by around twelve percent.
Siemens Energy and Qiagen up
The final quarterly figures from
Siemens Energy
were relatively well received on the stock exchange with a price increase of 1.9 percent.
After the presentation of the annual figures,
Qiagen
shares rose by 4.2 percent.
At the advertising marketer
Ströer
, a major shareholder could soon cause unrest.
The US company Valueact
, known as an activist investor
, has almost doubled its stake in the company to 11.4 percent.
Statements by the management, according to which the figures for the past year were at the upper end of the forecast range, provided positive impetus.
The Ströer shares recently advanced by 5.0 percent and were thus top values in the MDax.
Following strong annual figures from the commercial real estate specialist,
Dic Asset stocks
gained 4.7 percent.
Operating profit (FFO) rose by 11 percent in 2021 and is expected to increase similarly in the current year.
Jenoptik
shares
reacted to the technology group's annual figures with a price increase of 3.2 percent.
Due to a takeover and the boom in the chip industry, Jenoptik made and earned significantly more in 2021.
Heidelberger Druck increases in double digits
According to the quarterly figures, the
Heidelberger Druck
shares clearly took the lead in the SDax of the smaller stock exchanges with an increase of 12.8 percent.
The manufacturer of printing presses exceeded expectations across the board in the third business quarter, wrote analyst Daniel Gleim from the Stifel investment company.
The increased valuation of the shares is justified.
Exchange rate gains in Asia
With Wall Street tailwind, Asian stock markets rose on Wednesday.
In Tokyo, the Nikkei index climbed 1.1 percent to 27,579 points.
The broader Topix index rose 0.9 percent.
The Shanghai stock exchange was up 0.8 percent.
It looks like investors have pushed aside uncertainty surrounding tighter monetary policy from the US Federal Reserve, said strategist Masahiro Ichikawa of Sumitomo Mitsui DS Asset Management.
Analysts said Thursday's US consumer price index should reinforce expectations that the Fed will hike interest rates in the coming month.
"The overarching theme for the market is central bank monetary policy," said Manishi Raychaudhuri, Asia-Pacific equity strategist at BNP Paribas.
"I think volatility will continue and possibly increase... But over the long term, corporate balance sheets, particularly in emerging Asia, look a lot better than they used to."
Accordingly, it was primarily companies that made strong profits that migrated to the depots.
This included heavy equipment manufacturer IHI on Wednesday, whose shares rose by around ten percent.
The company had tripled its annual operating profit forecast.
The car manufacturer Nissan Motor also pleased investors with increased profit prospects.
The papers rose by 5.7 percent.
At Toyota, the outlook was lowered due to the global shortage of semiconductors.
However, the profit was convincing across the board, according to the analysts at Raiffeisen Research.
The shares gained 0.9 percent.
Bitcoin is trading just below $44,000
Cryptocurrency bitcoin paused its recent price rally, falling back below $44,000 on Wednesday.
Bitcoin was last listed on the Bitstamp trading platform at 43,600 US dollars.
Since its low of $33,000 at the end of January, Bitcoin has already appreciated strongly again.
Traders pointed out that Bitcoin's recent rise has once again breached the chart's significant 50-day moving average.
This could lead to follow-up purchases.
Clear gains on the US stock exchanges
After a slow start, Wall Street has picked up momentum.
The US standard value index
Dow
Jones
closed 1.1 percent higher on Tuesday at 35,462 points
.
The
tech-heavy Nasdaq advanced 1.3 percent to 14,194 points
.
The broad S&P 500 gained 0.8 percent to 4521 points.
"For the past few weeks, earnings season has been big on investors' minds," said Art Hogan, chief investment strategist at wealth manager National Securities.
"The bottom line was that the numbers were better than expected."
However, stockbrokers continued to puzzle over the pace of the expected US interest rate hikes.
"The vitality of the US job market increases the likelihood that the Federal Reserve will raise interest rates by half a percentage point in March," said analyst Ricardo Evangelista of brokerage house ActivTrades.
Those speculations could be fueled on Thursday if US inflation surprises on the high side.
Experts expect the inflation rate to rise to 7.3 percent year-on-year in January.
Financial stocks and banks in demand
In this environment, financial stocks rose again.
When interest rates rise, you can expect higher profits from the classic lending business.
Bank of America, Citigroup and JPMorgan shares each rose more than 1 percent.
Pfizer under pressure by numbers
On the stock market, Pfizer's titles flew out of the depots, although the pharmaceutical company sees itself on a record course after doubling its sales.
However, the outlook for the income from the Covid vaccine and the pill for the treatment of corona patients fell short of expectations.
It remains to be seen whether sales of corona products will be sustainable in the long term, commented analyst Chris Schott from Bank JPMorgan.
Pfizer shares lost almost three percent.
In their wake, the US-listed papers of the German development partner for the Covid vaccine, BioNTech, slipped by almost six percent.
Coty, on the other hand, pleased investors with raised full-year targets.
In addition, the cosmetics group, in which the German billionaire family Reimann has a significant stake, presented solid quarterly results, praised analyst Stephanie Wissink from the investment bank Jefferies.
Coty shares rose a good eight percent, the strongest since three months ago.
Peloton scored with a leadership change and an austerity program.
The fitness equipment provider's stock rose about 25 percent after temporarily losing more than 70 percent in the past three months.
"The stock is rising on the expectation that the new boss will restructure the company and shed dead weight," said Louis Navellier, chief investor at wealth manager Navellier & Associates.
Oil prices remain high
However, investors withdrew from the crude oil market.
The US oil grade WTI fell by two percent to $89.58 per barrel (159 liters).
The price of oil also went down.
"The resumption of indirect talks between the US and Iran could lead to a reopening of international markets to Iranian oil," predicted ActivTrades expert Evangelista.
In general, oil prices have been on the upswing since early December.
The market is currently characterized by robust demand and tight supply.
Most recently, tensions between Ukraine and Russia put a risk premium on prices.
Oil traders are particularly concerned about the tensions between Ukraine and Russia, which is why crude oil prices are currently subject to a risk premium in the event of an escalation.
with news agencies
