Initial momentum in the Dax ebbs according to ECB statements
Created: 2022-06-28Updated: 2022-06-28 09:57
The Dax is the most important stock index in Germany.
© Fredrik von Erichsen/dpa
After a strong start to trading, the momentum in the Dax eased somewhat on Tuesday.
The leading German index initially rose to close to its previous day's high of 13,378 points, most recently it was only 0.45 percent higher at 13,245 points.
Frankfurt/Main - Statements by ECB Council member Martins Kazaks that the European Central Bank should consider a major interest rate hike of 0.5 percentage points in July caused the price gains to melt away.
The environment for equities remains difficult given ongoing recession and inflation concerns.
The MDax of medium-sized stocks increased by 0.52 percent to 27,295 points on Tuesday morning.
The leading eurozone index, the EuroStoxx 50, rose by 0.4 percent.
Adidas and Puma are keeping an eye on figures from Nike and lost 1.1 and 0.9 percent respectively.
The US sporting goods maker earned significantly less in the most recent fiscal quarter, which weighed on Covid lockdowns in China.
Aviation stocks were in demand as tourism picked up again, with bookings picking up.
In the Dax, MTU gained 2.8 percent and Airbus 1.8 percent.
In the MDax, Fraport and Lufthansa each rose by 2.4 percent.
In view of a sharp increase in ticket demand, Lufthansa is now also putting the Airbus A380 wide-body jet back into operation.
A buy recommendation for Hugo Boss issued by the analysis firm Jefferies brought the fashion manufacturer's shares price gains of 2.8 percent.
Social media data showed the brand's trend reversal.
The annual targets are already conservative.
dpa
