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Frankfurt Stock Exchange:
The Dax is trading on Thursday
Photo: A3602 Frank Rumpenhorst/ dpa
Dax trying to recover after the fall in price: Easing fears of recession ensure that the Dax has increased significantly for the second day in a row after its recent slide in price and is looking again at the 13,000 point mark.
The Dax recently rose by 1.78 percent to 12,818 points.
The day before, the leading index had already risen by 1.5 percent after falling to its lowest level in a year and a half on Tuesday.
The MDax of medium-sized stocks gained 2.5 percent on Thursday to 25,576 points.
The leading eurozone index, the EuroStoxx 50, rose by around 1.7 percent.
The indices also increased in the USA and thus continued on their recovery course.
"It sounds somewhat paradoxical that the US Federal Reserve would provide some relief on the stock market with further interest rate hikes. However, investors interpret the determination of the Fed, which emerges from the meeting minutes on this point, as a sign of confidence in the robustness of the economy." , explained capital markets strategist Jürgen Molnar of RoboMarkets.
This means that the recession risks that have dominated recently have not received any new nourishment.
At the same time, the Bloomberg news agency reported that the Chinese government wants to allow local governments to issue additional bonds with a volume of 220 billion dollars to finance infrastructure projects.
This buoyed copper, which recently fell to a year-and-a-half low.
With a price increase of up to five percent to $7886.50 per ton, the industrial metal is heading for its largest daily gain in a good nine years.
China is the world's largest copper buyer.
Farewell to Boris Johnson: "Boxit" only gives pounds a slight boost
In addition, stockbrokers looked to London, where Prime Minister
Boris Johnson
announced his resignation as party leader after a series of scandals.
"The immovable object is finally giving way to the compelling force of ministerial resignations," said Neil Wilson, chief analyst at online brokerage Markets.com.
The pound sterling appreciated, but the plus was comparatively small at 0.3 percent to $1.1967.
"The new prime minister is likely to want to win over the public with a looser tax policy," said Naeem Aslam, chief market analyst at brokerage firm AvaTrade.
That would make the Bank of England's (BoE) fight against inflation even more difficult.
Car values in demand - Mercedes with clear price gains
The auto sector led the rally.
Five titles from the industry were found in the first six places in the Dax.
The price gains ranged from 5.5 percent for Mercedes to around 5 percent for
Volkswagen
preference shares and up to 4 percent for VW Holding
Porsche SE
.
However, the titles of Mercedes and VW were still under pressure at the beginning of the week.
Steel values also recovered significantly after the recent rapid downturn.
After almost halving the price within a month,
Thyssenkrupp
's shares rose by 6.1 percent.
In the SDax, the shares of the steel trader
Klöckner & Co
settled at the top with plus 6.5 percent.
Salzgitter
followed there with a jump in price of 5.6 percent despite a downgrade by the experts at the Jefferies analysis company.
Semiconductor values were also in demand after the South Korean group
Samsung
announced its highest quarterly profit since 2018 thanks to a booming chip business.
This helped the European technology index to gain 2 percent.
The chip industry supplier Aixtron was one of the biggest winners here.
His titles increased 4.7 percent.
Lufthansa up after Kühne acquisition
Lufthansa
shares were also
in demand, rising 4 percent in price.
Billionaire
Klaus-Michael Kühne
(85) increased his stake in the airline again.
"Since things are not going smoothly at the airports and thus also at Lufthansa, despite or because of the boom in demand, this step is a strong signal," said RoboMarkets expert Molnar.
The online fashion retailer
About You
continued to grow in the first quarter of the business year despite the difficult market environment caused by inflation and the war in Ukraine.
However, compared to the previous quarter, the pace slowed and the operating loss increased.
Co-boss
Tarek Müller
(33) was confident of achieving the goals for the fiscal year running until the end of February.
The About You papers recently rose by almost 1 percent.
US stock markets continue to stabilize
The US stock market continued to stabilize on Thursday.
Concerns about inflation and recession faded into the background, even if the US Federal Reserve is sticking to its aggressive course of interest rate hikes, as the minutes made clear the day before.
The
Dow
Jones Industrial
recently rose by 0.76 percent to 31,272 points.
The market-wide
S&P 500
rose by 0.95 percent to 3881 points and is currently around 20 percent below its record high in January.
At the same time, it has recovered somewhat from its one-and-a-half-year low in June, but remains at the threshold at which stockbrokers speak of a bear market.
The tech-heavy
Nasdaq 100
gained 1.08 percent on Thursday to 11,981 points.
It is currently around 29 percent below its peak reached in November 2021.
Positive signals for numerous technology stocks, also in the USA, came from the Korean Samsung group.
In the earnings outlook for April to June, the world market leader in memory chips, smartphones and televisions is targeting significant growth.
Suppliers such as Applied Materials were up about 4.1 percent and Lam Research were up 5.1 percent.
KLA-Tencor and Qualcomm also gained just over four percent.
Samsung's competitor Apple was up 1.5 percent.
Markets in Asia follow Wall Street higher
In the wake of a firmer Wall Street on Wednesday, the Asian stock exchanges rose on Thursday.
In Tokyo, the
Nikkei index
rose 1.4 percent to 26,479 points.
The broader
Topix Index
was also up 1.4 percent.
Market analyst Shogo Maekawa from JP Morgan Asset Management said the mood on the overall market was helped by the fact that there were no nasty surprises in the minutes of the US Federal Reserve's most recent meeting.
Euro gains again against dollar
The euro rose again on Thursday.
The European Central Bank set the reference rate at 1.1080 (Wednesday: 1.0177) dollars.
The dollar thus cost 0.9823 (0.9826) euros.
Oil prices
bounce back from another slide
Oil prices recovered somewhat from another slide on Thursday.
At midday, a barrel (159 liters) of North Sea Brent cost $101.56.
That was 87 cents more than the day before.
The price of a barrel of West Texas Intermediate (WTI) brew rose 84 cents to $99.37.
Crude oil prices came under pressure for the second day in a row on Wednesday.
Fears of a downturn in the global economy, which would also weigh on global demand for oil, petrol and diesel, were the main reason for the significant price reductions.
The strong dollar is also weighing on oil prices, as the commodity is settled internationally in US currency.
If the dollar exchange rate rises, this usually dampens demand from outside the dollar area.
These negative factors are offset by a tight supply of crude oil, which is mainly due to Russia's war against Ukraine.
The two countries are major producers of raw materials, and Russia is one of the world's most important oil suppliers.
Due to the shortage of supply, oil prices have been at a high level for a long time.
In relation to the beginning of the year, the increase is currently around 35 percent.
Bitcoin just above $20,000 again
The world's best-known digital currency Bitcoin moved slightly up on Thursday.
On the Bitstamp trading platform, the cyber currency was last listed at around 20,670 US dollars – an increase of around 3 percent.
The cryptocurrency has been under pressure since the beginning of the year.
Bitcoin hit a record high of $69,000 in November last year.
With news agencies