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Stock market: Dax rises above 15,000 points

2023-01-12T09:26:00.873Z


Investors await the new inflation data from the US today. It is hoped that falling inflation could pave the way for fewer rate hikes. Dax investors are also speculating on this: the index rises above the 15,000 point mark.


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Bullish:

The hope of a further fall in inflation in the US and a possible less strict monetary policy from the US Federal Reserve is driving share prices on Wall Street and also in Europe

Photo: Frank Rumpenhorst / dpa

Thanks to the ongoing rally at the beginning of the year, the Dax passed the 15,000 point mark on Thursday.

Most recently, it was up 0.4 percent at 15,010 points.

This is a high since February 2022. The EuroStoxx 50, the leading index in the euro zone, was also up.

Wall Street also hit new highs for the year.

Bank Credit Suisse speaks of continued optimism about declining inflation and a correspondingly less strict monetary policy by the US Federal Reserve.

However, the experts reminded that this is contrary to the rhetoric of leading Fed actors.

Hopes of another sharp fall in US consumer prices lifted sentiment on Wall Street on Wednesday.

The leading index

Dow Jones

closed 0.8 percent higher at 33,973 points.

The tech-heavy Nasdaq 100 advanced 1.8 percent to 11,402 points.

The broad

S&P 500

gained 1.3 percent to 3969 points.

The official US inflation data, which investors have been eagerly awaiting for days, is due on Thursday.

After five straight months of declining annual rates, further weaker reading could pave the way for fewer Federal Reserve rate hikes or even rate cuts later in the year, said Craig Erlam, a market analyst at trading house Oanda.

Like the market as a whole, Credit Suisse expects core inflation, excluding the particularly volatile food and energy prices, to have fallen slightly to 5.7 percent compared to November.

New US inflation data could become a price driver

In Germany, the focus is on Südzucker

shares

.

Good business, especially with sugar and specialty products, helped the group to jump in sales.

The Südzucker Group confirmed the adjusted forecast at the beginning of November.

Investors did not see any major surprises in the results: the paper was listed on the Tradegate trading platform slightly below the Xetra close on Wednesday.

PVA Tepla

shares rose by

almost four percent on Tradegate and thus benefited from positive analyst comments.

After the significantly below-average price development in the previous year, the shares should arouse investor interest in 2023, wrote the expert Gustav Froberg from the private bank Berenberg.

The consensus estimates for the high-tech company have been lowered and earnings visibility is high given the record order backlog.

Bitcoin trades above $18,000

The digital currency Bitcoin is increasing and was quoted at 18,129 US dollars on the Bitstamp trading platform in the morning.

That is around 3.9 percent more than 24 hours ago.

In November 2021, Bitcoin reached a record high of $69,000.

Oil prices can hold gains

On Thursday morning, oil prices were able to hold the premiums they had achieved the previous day.

In early trading, a barrel (159 liters) of North Sea Brent cost $82.78.

That was 11 cents more than the day before.

The price of a barrel of American West Texas Intermediate (WTI) grade also rose slightly to $77.49.

After a weak start to the year, oil prices have increased in recent days.

On the market, the reason given for the development is that the economic pessimism that prevailed at the beginning of the year has given way to a little more confidence.

Hopes are pinned on China in particular: the easing of the once strict corona measures could give rise to an economic upswing and result in higher energy demand, is the expectation.

With news agencies

Source: spiegel

All news articles on 2023-01-12

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