As of: February 22, 2024, 6:07 p.m
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The Dax is the most important stock index in Germany.
© Fredrik von Erichsen/dpa
The hype surrounding Nvidia and artificial intelligence boosted the stock markets on Thursday.
The chip manufacturer's quarterly balance sheet and business prospects exceeded even high expectations, brought shares to a record high and, above all, pushed up tech stocks.
With this euphoric mood among investors, the DAX climbed by 1.47 percent to 17.
Frankfurt/Main - 370.45 points and reached another historic high.
Recently, people on the US stock exchanges were no longer sure whether Nvidia would be able to meet its high expectations with its quarterly report.
In the last two days, investors let some breathing room out of the shares, which had risen sharply.
But now market strategist Jürgen Molnar from the broker Robomarkets was able to determine: “Nvidia is turning up the music at the stock market party again.”
With the strong tailwind, the two tech stocks SAP and Infineon were also among the biggest winners in the German leading index.
The MDax of medium-sized stocks rose by 1.50 percent to 26,099.76 points on Thursday.
Here too, the shares of two companies, Aixtron and Jenoptik, which are suppliers to chip producers, rose above average.
Mercedes-Benz was one of the biggest winners in the Dax with a premium of 4.7 percent.
In the future, the car manufacturer not only wants to pay out around 40 percent of its net profit as a dividend as before, but in certain cases it also wants to buy back its own shares.
This also drove up the prices of Volkswagen and Porsche Holding.
Shares in the manufacturer of special packaging Gerresheimer stood out with a plus of 13.4 percent after a convincing outlook.
Delivery Hero, on the other hand, lost 3.4 percent because talks by the food supplier to sell its subsidiary Footpanda failed.
MTU slipped 3.1 percent in the DAX, with investors reacting to a significantly reduced profit share.
The background is expensive material defects in engines.
Almost without exception, Europe's stock markets went up.
The stock exchanges in Paris and Amsterdam reported record results.
The EuroStoxx 50, the leading index of the Eurozone, gained 1.68 percent to 4855.36 points, which was its highest level since 2000. The London FTSE 100 lagged behind slightly with a moderate increase.
In the USA, the Dow Jones Industrial reached a record high.
On the foreign exchange market, the euro cost 1.0814 US dollars.
The European Central Bank (ECB) had previously set the reference rate at $1.0844.
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On the bond market, the current yield rose from 2.42 percent the day before to 2.48 percent.
The Rex bond index fell by 0.30 percent to 125.00 points.
The Bund future was 0.15 percent higher at 132.56 points.
dpa