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Course rally in the Dax: Is the Dax reaching a new high for the year?
Photo: A3602 Frank Rumpenhorst/ dpa
The price recovery in the USA is also driving the German stock market: The Dax started trading with strong gains and is approaching the 15,500 point mark.
It is thus approaching its highest level in 12 months.
The leading eurozone index, the EuroStoxx 50, also rose sharply.
In the USA, the expected small interest rate hike by the US Federal Reserve and the price rally of the tech giant Meta the previous evening had created a buying mood.
Investors in Europe are now increasingly accessing it.
In contrast, the Deutsche Bank share brought up the rear in the Dax, which fell by more than 4 percent according to figures.
As expected, the Fed raised its key interest rate by 0.25 percentage points and held out the prospect of further monetary tightening.
Statements by Fed boss
Jerome Powell
would have been less "hawkish", Commerzbank said in the morning.
What is meant by this expression is a somewhat less harsh monetary policy stance.
The experts at ING Bank are now only expecting another rate hike by the Fed of another 0.25 percentage points in March.
Recessionary forces would then pave the way for rate cuts later in the year, they suspect.
Deutsche Bank under pressure in the Dax
Deutsche Bank shares fell by around four percent as the laggard in the Dax.
Analyst Anke Reingen from the Canadian bank RBC spoke of "mixed results" from Frankfurt.
Deutsche Bank posted its highest profit in 15 years in 2022, but also benefited from a positive tax effect.
The shares of DWS, the fund subsidiary of Deutsche Bank, lost more than five percent according to quarterly figures.
Infineon and Siemens Healthineers with price rally
In the downturn in the global economy, the chip group Infineon continues to draw on robust demand from the energy transition and electromobility.
The titles went up by almost six percent.
The tech rally in the USA provides additional momentum.
A dealer described the figures from the medical technology group Siemens Healthineers as mixed.
The retained view helps.
According to JPMorgan, an improvement in the supply chain situation is also in sight.
The papers also advanced by around six percent.
ECB and Bank of England decide on interest rates
On Thursday, all eyes are now on the European Central Bank (ECB), which, like the Bank of England, will give its interest rate decision and signals for the future course of monetary policy in the afternoon.
The ECB is likely to continue its fight against high inflation.
Many bank economists expect interest rates to rise another 0.5 percentage points.
Nasdaq switches to rally mode
In New York, the Dow Jones Industrial recovered losses following the Fed's decision, while technology stocks went into rally mode.
Added to this are the strong after-hours results of the social media group Meta as a mood driver.
The shares of the Facebook and Instagram group jumped in price by a good 20 percent.
Especially on the Nasdaq tech exchange, investors burned off a small price firework: The Nasdaq 100 selection index jumped up by up to almost 3 percent and ultimately claimed a plus of 2.2 percent to 12,363.1 points.
In the market-wide S&P 500, it was ultimately enough for an increase of 1 percent to 4119.2 points.
In contrast, the leading index, the Dow Jones Industrial, lagged behind – as it has since the beginning of the year: It ended trading unchanged at 34,092.9 points, having previously lost almost one and a half percent.
Bitcoin is trading above $21,000
The digital currency Bitcoin was trading at $ 21,601 on Thursday morning.
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 recover slightly
Oil prices recovered somewhat on Thursday morning from the previous day's sharp declines.
In the morning, a barrel (159 liters) of North Sea Brent for delivery in April cost 83.21 US dollars.
That was 37 cents more than the day before.
The price of a barrel of American grade West Texas Intermediate (WTI) for March delivery rose by 44 cents to $76.85.
After oil prices initially fell significantly on Wednesday, the weaker US dollar provided some support from the evening.
If the dollar depreciates, commodities traded in the US currency, such as oil, become cheaper for investors from other currency areas.
As a result, demand and crude oil prices increase.
On the supply side, there is a lot to be said for an initially stable situation.
The large oil association Opec+ is currently not making any moves to change its production policy significantly.
On Wednesday, an important committee recommended maintaining the support course for the time being.
The approximately 20 countries of Opec+ are led by the major producing countries Saudi Arabia and Russia.
With news agencies
