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Frankfurt Stock Exchange:
The Dax continues to rise on Tuesday
Photo: Frank Rumpenhorst / dpa
After initial losses in the afternoon, the leading German index rose to a daily high.
Most recently, the Dax was 0.5 percent higher at 15,203 points.
The market pointed to speculation that the ECB is likely to raise interest rates by just 0.25 percentage points at its upcoming February meeting.
So far, economists had assumed 0.5 percentage points.
The MDax for medium-sized German companies rose by 0.8 percent to 28,641 points on Tuesday.
The EuroStoxx 50, the leading index in the eurozone, gained 0.7 percent to 4178 points.
The focus is also on data on economic growth from China.
According to official information, gross domestic product increased by only 2.9 percent in the fourth quarter due to the corona situation.
Although this is more than experts expected, the government's growth target for the year as a whole was clearly missed.
Hardly any impetus came from the surprisingly strong economic expectations of financial experts.
The data from the Mannheim research institute ZEW signaled a noticeable improvement in the economic situation on a six-month horizon for the first time since February.
Infineon shares increase by 2 percent
Among the individual values in the Dax,
Infineon
's shares at the top of the index rose by 2.0 percent.
A study by the British investment bank Barclays on the European semiconductor industry gave impetus, in which the share was included with a price target of EUR 47 and "overweight".
Analyst Simon Coles considers the valuation of the Infineon share to be attractive and emphasized the focus on comparatively better end markets.
The fashion retailer
Hugo Boss
published better than expected quarterly figures in the morning.
Despite high inflation, it increased sales and earnings last year and thus once again recorded strong momentum in the final quarter.
The fact that the share fell by around one percent is probably due to the very strong performance of the paper since the beginning of November.
The highest level since May 2019 was only reached last week.
United
Internet
, on the other hand, went up 1.9 percent.
The cloud service
subsidiary Ionos
of the Internet service provider and telecom group is to go public in the first quarter, as announced in the morning.
United Internet will retain a majority stake after completion.
LVMH shares at record high
The shares of the luxury goods
group LVMH
rise to a new record in Paris.
The securities gained up to 0.4 percent to EUR 795.70 and thus reached an all-time high.
The market capitalization of the Paris-listed company exceeds 400 billion euros for the first time in its history and consolidates its position as the most valuable company in Europe.
According to analysts, restructuring and China hopes are driving the company's shares.
China data and balance sheets of major US banks depress US stock markets
Economic data from China and disappointing quarterly results from major US banks dampened the spirits of Wall Street investors on Tuesday.
The
Dow Jones index
of standard values was 0.2 percent lower at 34,222 points when it opened on Tuesday.
The broader
S&P 500
was little changed at 3,999 points.
The
Nasdaq
technology exchange index lost 0.1 percent to 11,070 jobs.
"Goldman Sachs' quarterly results were even worse than widely expected," said Opimas analyst Octavio Marenzi.
"Morgan Stanley's results, on the other hand, were broadly in line with guidance."
According to economist Peter Cardillo from investment advisor Spartan Capital Securites, the slowdown in economic growth in China also contributed to the depressed mood.
Goldman Sachs
shares
fell a good 2 percent to $366.26.
The
Morgan Stanley papers
, on the other hand, rose by a good 4 percent to $ 95.41 - the highest price level in almost a year.
At the same time, the disappointing gross domestic product in China weighed on the prices of US-listed Chinese companies.
Alibaba
,
JD.com
,
and
Baidu
lost up to almost 5 percent.
Chinese economy weighs on Asian stocks
The major stock markets in Asia were mixed on Tuesday.
The Nikkei Index, which comprises 225 stocks, closed 1.2 percent higher after the losses at the start of the week.
Meanwhile, the CSI 300 index, which lists the top 300 Chinese companies listed on the mainland stock exchanges, fell 0.3 percent and Hong Kong SAR's Hang Seng index slipped 1.3 percent.
The economy in China grew more strongly in the fourth quarter than experts had expected.
"China's economy has so far coped surprisingly well with the rising Covid numbers," wrote Thomas Altmann from asset manager QC Partners.
The fact that the stock exchanges reacted negatively there does not have to be due to the numbers.
Because the indices have recently risen particularly sharply and positive news is now being used for profit-taking.
Bitcoin trades above $20,000
The digital currency Bitcoin was last listed on the Bitstamp trading platform at 21,312 US dollars, around 25 percent higher than in the previous week.
In November 2022, the currency plummeted from over $21,000 to around $16,000 amid the collapse of crypto exchange FTX.
A year earlier, bitcoin hit a record high of $69,000.
Oil prices stagnate
Oil prices rose on Tuesday on hopes of rising demand.
A barrel (159 liters) of North Sea Brent recently cost $85.18.
That was 72 cents more than the day before.
The price of a barrel of American grade West Texas Intermediate (WTI) for February delivery rose by 11 cents to $79.97.
Economic data from China created a positive mood on the crude oil market.
The second largest economy in the world grew more than expected in the fourth quarter of 2022.
The People's Republic is one of the world's largest energy consumers.
The economic prospects are also brightening in other countries and regions.
For Europe, there is increasing evidence that a severe recession can be avoided despite the war in Ukraine.
One important reason is the development of natural gas prices, which after a dramatic increase are now lower than before the Russian attack on Ukraine.
Oil prices had meanwhile also risen sharply.
With news agencies