Stock exchange in Frankfurt: Dax continues to grow – quarterly reports are well received

The recovery on the German stock market, which began in mid-July, continued with momentum on Thursday. The leading index Dax rose by one percent to 13,723.16 points in the early afternoon.

The courses were supported by solid economic data from the USA. As a result, listings on the Nasdaq technology exchange in particular had risen sharply. But the domestic quarterly reports were also mostly well received.

The MDax for medium-sized companies rose by 1.66 percent on Thursday to 28,267.83 points, breaking the 28,000 point mark for the first time in almost two months. The leading eurozone index, the EuroStoxx 50, was up 0.68 percent.

After the quarterly reports of the Dax companies Adidas, Beiersdorf, Hannover Re and Zalando, investors raised their thumbs. The price gains ranged from 1.7 percent for Beiersdorf to almost 14 percent for Zalando. Unlike Bayer, whose course fell by 2.7 percent.

In the second and third series, there were also large price swings. Lufthansa rose by 5.2 percent. A trader praised the statements on the current third quarter, which showed increasing demand. Dürr shares increased by 3.7 percent. The mechanical and plant engineering company expects a record high order intake this year.

After initial losses, United Internet turned positive again. The Internet group is examining the sale of its private customer services and e-mail portals, as reported by the “Handelsblatt”.

In the SDax, a downgrade by a bank for the papers of the wind farm project developer PNE pushed the course down by 5.1 percent. An investment company dropped the buy recommendation for Basler, after which the technology company lost 7.9 percent. Hensoldt shares fell by 4.2 percent according to quarterly figures from the armaments group.

The euro slipped a bit on Thursday and was last seen at $1.0173. The European Central Bank (ECB) had set the reference rate at $1.0194 the day before.

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 rose by 0.24 percent to 137.04 points. The Bund future rose by 0.28 percent to 157.87 points.