After the recent losses on the German stock market, the signs were pointing to recovery on Wednesday. The Dax, which had fallen to its lowest level since mid-November the day before, rose by 1.54 percent to 14,097.82 points and thus surpassed the 14,000 point mark again.
The MDax went up by 2.10 percent to 25,486.65 points in the middle of the week. The day before, measures by the central bank of Japan, which the market saw as tightening of monetary policy, weighed on prices.
Adidas and Puma win
Business at the US sporting goods manufacturer Nike is going well despite global inflation and recession concerns. The quarterly numbers came off great, with the stock soaring 13 percent on Wall Street -- dragging Adidas and Puma up 6.8 percent and 9.5 percent respectively.
Deutsche Post benefited from quarterly figures from competitor Fedex and rose by 2.5 percent. Analysts assessed the business figures of the US logistics company as better than feared and praised the planned cost reductions.
Brenntag continued the recovery that began at the start of the week with a plus of 2.5 percent. From the point of view of UBS expert Rory McKenzie, the chemicals trader is too pessimistic after the recent price slide. He therefore recommends buying the papers.
After a surprisingly good annual balance sheet, the copper and recycling group Aurubis wants to invest a lot of money in expanding its business. The stocks quickly recovered from the initially high price losses and climbed to their highest level since mid-June. From the trade they went with a premium of 2.8 percent.
The papers of the antibody specialist Morphosys, which has to look for a new chief financial officer, were also under pressure. The current incumbent, Sung Lee, is leaving the company after two years for personal reasons. Morphosys shares fell one percent.
Uniper's widely expected capital increase left the share price cold, increasing by 3.6 percent. Only the federal government can subscribe to the new shares, the statutory subscription rights of the other shareholders are excluded.
Europe-wide price gains
Across Europe, the signals were for price gains: The Eurozone leading index EuroStoxx 50 rose by 1.83 percent to 3872.15 points. Paris' Cac 40 and London's FTSE 100 were up by a similar amount. The leading US index Dow Jones Industrial was up 1.5 percent at the end of trading in Europe.
The euro hardly moved and was quoted at 1.0607 US dollars in the evening. The European Central Bank (ECB) had previously set the reference rate at $1.0636.
On the bond market, the current yield rose from 2.25 percent on the previous day to 2.27 percent. The Rex pension index rose by 0.02 percent to 126.64 points. The Bund future was down 0.13 percent in the evening at 135.79 points.
