On Thursday, the Dax continued the recovery that began in mid-July. The leading German index had meanwhile skyrocketed by around 1.5 percent before suffering somewhat from the subdued mood on Wall Street and finally gaining 0.55 percent to 13,662.68 points. The MDax for medium-sized companies had surpassed the 28,000 point mark for the first time in almost two months and closed 1.28 percent up at 28,162.23 points.

Investors gave the quarterly reports of the Dax companies Hannover Re, Beiersdorf, Adidas and Zalando a thumbs-up. The price gains ranged from 2.2 percent for Hannover Re to 13.1 percent at the top of the index at Zalando. As a course driver, a retailer rated that the online retailer wants to reduce capital expenditure. However, Zalando’s shares have lost 56 percent since the beginning of the year.

The shares of the pharmaceutical and agrochemical group Bayer fell by two and a half percent. “Bayer is operationally much stronger than it was a year ago. The only problem: the bottom line is that the group is still making a loss,” explained capital market strategist Jürgen Molnar from the trading house Robomarkets.

Partly large course swings

In the second and third series, there were also large price swings. The papers of the airline Lufthansa at the top of the MDax rose by 6.4 percent. A trader praised the statements on the current third quarter, which showed increasing demand. Dürr shares increased by 1.5 percent. The mechanical and plant engineering company expects a record high order intake this year.

In the SDax small-cap index, Compugroup papers rose by a good five percent, fueled by a more optimistic outlook from the software developer. According to quarterly figures from the armaments group, Hensoldt shares fell by more than two percent. At the end of the index, Basler’s shares fell by almost twelve percent after the investment house Bryan Garnier had criticized the technology company’s shares.

The Eurozone leading index EuroStoxx 50 rose by 0.59 percent to 3754.60 points. France’s leading index, the Cac 40, rose by a similar amount, while its UK counterpart, the FTSE 100, was almost flat. In New York, the leading US index, the Dow Jones Industrial, recorded slight losses at the end of trading in Europe.

The euro rose in view of the generally friendly mood on the financial markets and was last listed at 1.0218 US dollars. The European Central Bank had previously set the reference rate at 1.0181 (Wednesday: 1.0194) dollars.

The dollar thus cost 0.9822 (0.9810) euros. On the bond market, the current yield on German government bonds rose from 0.72 percent on the previous day to 0.75 percent. The Rex pension index gained 0.24 percent to 137.04 points. The Bund future climbed 0.29 percent to 157.89 points.