After two strong weeks on the stock exchange, the Dax remained on the upswing. The leading German index closed on Monday up 0.31 percent at 15,134.04 points. Since the beginning of the year, growth has amounted to 8.7 percent. The Dax is currently as high as shortly before the Russian invasion of Ukraine at the end of February 2022.
The MDax for medium-sized German companies went up 0.72 percent to 28,456.64 points. Impulses were rare: there was no trading in New York due to a public holiday.
If such an increase occurs within a short period of time, the risk of a correction increases, wrote the experts at Landesbank Hessen-Thüringen. In addition, a lot of positive things are already included in the courses. It is true that concerns about the economy are diminishing and there is speculation that the central banks will soon end the cycle of interest rate hikes. But this only fits together if the inflationary pressure decreases significantly and permanently.
The focus on the market was on the Covestro shares, which were subject to greater price fluctuations and ultimately increased by 1.8 percent. High depreciation had surprisingly torn the plastics group into the red in 2022. Hellofresh's papers were hit by a negative analyst comment. They lost 5.6 percent at the bottom of the MDax.
Irrespective of the transaction numbers, which were judged to be weak, Hypoport's shares rose by more than 20 percent and were thus the favorites in the SDax small-cap index. The financial service provider had felt the fall in real estate demand in the final quarter of 2022 due to rising interest rates and economic risks.
According to Warburg Research, however, the real estate market is now likely to have bottomed out. The European real estate sector as a whole was also in demand on Monday with a plus of 2.1 percent. Vonovia gained 3.7 percent in the Dax, while Aroundtown, LEG and TAG Immobilien each rose by around 6 percent at the top of the MDax.
The Eurozone leading index EuroStoxx 50 rose by 0.15 percent to 4157.00 points. France's Cac 40 and Britain's FTSE 100 also rose modestly.
The euro fell: The European Central Bank set the reference rate at 1.0812 (Friday: 1.0814) dollars. The dollar thus cost 0.9249 (0.9247) euros. On the bond market, the current yield rose to 2.21 percent from 2.11 percent on Friday. The Rex pension index lost 0.44 percent to 126.38 points. The Bund future rose by 0.01 percent to 138.11 points.
