Stock exchange in Frankfurt: Dax catches itself

After the price slide at the start of the week, the German stock market stabilized on Tuesday.

Stock exchange in Frankfurt: Dax catches itself

After the price slide at the start of the week, the German stock market stabilized on Tuesday. Buyers mainly bought papers that had recently suffered from the deteriorated mood on the stock market, wrote market observer Andreas Lipkow. The leading German index was recently up 1.07 percent at 12,897.16 points. Tailwind was also indicated by Wall Street, which was expected to post gains after a holiday.

The MDax recovered even more clearly with a plus of 1.77 percent to 25,105.93 points. The Eurozone leading index EuroStoxx 50 went up by a good half a percent.

The day before, the probably long-term stop of Russian gas deliveries through the Nord Stream 1 pipeline had caused deep red prices. The interest rate decision by the European Central Bank on Thursday remains firmly in the eyes of investors, because this could also cause price movements on the markets: while the currency watchdogs regard higher interest rates as a means of combating inflation, stockbrokers fear that the economy will slow down.

On the corporate side, Volkswagen preferred shares were among the big winners with a premium of around 3.4 percent. There is clarity here with the IPO of the sports car subsidiary Porsche. Subject to further capital market developments, the first part of the shares should be traded in Frankfurt at the end of September or beginning of October.

Internet stocks posted strong gains. A study by the US bank Morgan Stanley on Delivery Hero gave the sector an overall boost. The titles of the food delivery service rose by 8 percent at the top of the MDax. In the Dax, the shares of the online fashion retailer Zalando secured first place with a price premium of around 5 percent. The shares of Hellofresh followed with a price gain of 4.8 percent.

Shares in the ailing Uniper group continued their slide and fell to a record low. Here, investors are speculating when the group will need further state aid after Russia failed to resume gas supplies through Nord Stream 1. Uniper shares were down almost 5 percent.

The euro cost $0.9902. The ECB had set the reference rate at $0.9920 the day before. On the bond market, the current yield fell from 1.45 percent the previous day to 1.42 percent. The Rex pension index rose by 0.06 percent to 131.93 points. The Bund future rose by 0.11 percent to 147.87 points.

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