Dax and Dow Jones and cryptocurrency Bitcoin with price rally, gains on the stock market

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Stock exchange in Frankfurt am Main:

The Dax climbs to a five-week high, Dow and Bitcoin rise

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Boris Roessler / dpa

On course for recovery: On Tuesday, the German stock market finally continued the gains it had made at the beginning of the week.

After the mood had been gloomy for a long time, the friendly opening of the US stock exchanges put everyone in a good mood.

The leading index Dax closed 0.94 percent higher at 13,052 points and thus at the highest level for 5 weeks.

The MDax for medium-sized stocks rose by 2.43 percent to 23,807.17 points.

On Wall Street, the quarterly reports of large corporations were mostly well received by investors.

In the afternoon, weak economic data from the USA had also given rise to hope that the US Federal Reserve would raise its key interest rates less sharply in the future.

This drove prices on both sides of the Atlantic.

The Ifo business climate for Germany, on the other hand, had little impact on the stock market.

The mood in the German economy deteriorated only slightly in October.

SAP with price rally despite slump in profits

SAP shares rose by 6.5 percent among the best values ​​in the Dax.

Europe's largest software manufacturer received support from the weak euro and not least because of this came through the difficult third quarter better than feared by experts.

The plastics group Covestro missed the estimates with its operating result and also lowered the earnings outlook at the upper end, as Jefferies analyst Chris Counihan complained.

The papers lost 3.7 percent at the end of the Dax.

Adidas ends collaboration with Kanye West

Adidas shares fell more than 3 percent.

After anti-Semitic statements by Kanye West, the sporting goods and clothing manufacturer ended its collaboration with the US rapper.

The cooperation was a lucrative part of the business for the Franks, the dissolution hits Adidas economically sensitive.

Linde shares fell by three and a half percent.

The planned departure from the Frankfurt Stock Exchange proved to be a burden.

While the structure of dual listings in Frankfurt and New York after the merger with US competitor Praxair has served the company well from the start, the European restrictions and added complexity have limited the valuation of the shares, said Linde- Chief Sanjiv Lamba.

At the top of the MDax, Adtran's shares rose by a good twelve percent.

The US telecom equipment maker had performed better than expected in the third quarter thanks to sustained good demand.

The EuroStoxx 50 rose by 1.64 percent to 3585.58 points.

In Paris, the Cac 40 rose even more sharply, while the UK FTSE suffered from the strong pound and closed little changed.

The UK national currency benefited from the appointment of Rishi Sunak as the new Prime Minister.

After his election, he will try to further calm the mood on the markets, wrote the experts at Deka-Bank.

In the US, the Dow Jones Industrial was up almost 1 percent at the close in Europe.

The euro rose and last cost 0.9966 US dollars.

The European Central Bank (ECB) had previously set the reference rate at $0.9861 (Monday: $0.9851).

The dollar thus cost 1.0141 (1.0151) euros.

On the bond market, the current yield fell from 2.32 percent on the previous day to 2.19 percent.

The Rex pension index rose by 0.45 percent to 126.97 points.

The Bund future gained 1.53 percent to 138.40 points.

Dow Jones and Nasdaq continue to climb

After a slow start to trading, the leading US index, the Dow Jones Industrial, continued its recent recovery on Tuesday.

The quarterly reports of large US corporations were mostly well received by investors.

In early New York trade, the index rose 0.65 percent to 31,703 points.

On Friday and Monday it had already increased by a total of almost four percent and had climbed to its highest level since mid-September.

Other major selection indices such as the market-wide S&P 500 and the technology-heavy Nasdaq 100 fared even better than the Dow.

The former increased by 0.96 percent to 3833 points and the latter increased even more by 1.55 percent to 11,605 points.

Numbers from Microsoft and Alphabet in the evening

The reporting season, which has so far been quite positive despite the gloomier economic environment, has recently given the market a boost and pushed worries about rising interest rates somewhat into the background.

In addition, weaker economic data had fueled hopes that the US Federal Reserve would slow down somewhat in combating high inflation.

As a result, Wall Street continued Monday's already strong Friday trading with clear gains, while the Dow Jones had climbed to its highest level since mid-September.

The recent recovery in technology stocks also continued at the start of the week.

Also on Tuesday, a large number of companies with numbers in view.

When waiting for the reports from the big technology groups, which are also due this week, investors still have to be patient - the software manufacturer Microsoft and Google's mother Alphabet will only open their books in the evening after the stock exchange closes.

Investors grabbed the shares of Coca-Cola for the individual values ​​​​with published quarterly figures - the beverage company had surprised positively with its results for the past quarter and raised the outlook for the financial year.

The price rose by almost one percent.

Shares in General Motors were also in demand, gaining a good two percent: the carmaker made progress in overcoming its supply chain problems in the summer and significantly increased sales and profits.

The shares of the logistics group UPS fared even better after it was able to boost profits in the past quarter thanks to price increases.

This was an increase of three and a half percent.

Investors at 3M, on the other hand, were less pleased recently, because the conglomerate also cut its targets for the year due to the sluggish economy.

The price loss amounted to 0.7 percent.

Asia's stock markets friendly

The major stock markets in Asia posted price gains on Tuesday.

The friendly atmosphere in the USA provided a tailwind there.

In Tokyo, the Japanese Nikkei index recently rose by 1.2 percent.

The Chinese

, which includes the 300 most important companies on the mainland stock exchanges, gained 0.9 percent after a weak start to the week.

In the Chinese special administrative region of Hong Kong, the technology-heavy leading index

also rose by 0.9 percent.

Bitcoin is increasing

Bitcoin was initially almost unchanged at $19,300 on Tuesday, but then expanded its gains to around 4 percent in the evening and approached the $20,000 mark again.

Oil prices clearly in the red

Oil prices fell on Tuesday.

Having hardly changed in the morning, they turned into losses by midday.

A barrel (159 liters) of the North Sea Brent variety recently cost 92.06 US dollars.

That was $1.19 less than the day before.

The price of a barrel of West Texas Intermediate (WTI) fell $1.01 to $83.56.

After some sharp price declines since the beginning of the month, prices on the oil market have remained in a comparatively narrow trading range in the past few days.

In the course of trading, concerns about demand have intensified again on the market.

According to experts, the recent price losses are caused by fears of an economic downturn in China.

With news agencies