The uncertainty of many investors about the forthcoming company reporting season slowed the German stock market on Tuesday. The Dax lost 0.07 percent to 15,093.11 points. After his strong rally at the beginning of the year, he suffered another small setback. The MDax for medium-sized companies fell by 0.44 percent to 28,567.00 points.
Fresh economic data provided a mixed picture: While the consumer climate in Germany brightened slightly in January, the mood in industry deteriorated. "The phase of difficult-to-assess economic developments continues and is increasingly evident in individual sectors," commented market expert Andreas Lipkow.
In this country, corporate news was still rare on Tuesday. Share prices were primarily driven by analyst voices or in the wake of US competitors.
For the Citigroup experts, reinsurers and specialty insurers are the first choice in the insurance sector. As a result, the shares of Hannover Re and competitor Munich Re rose by up to 1.8 percent in the top group of the Dax. For Munich Re's shares, this even meant the highest level since 2001, above EUR 330.
Daimler trucks up
They were only surpassed in the leading index by Daimler Truck, which was the strongest Dax value with a plus of 2.6 percent. According to dealers, the results of the US commercial vehicle manufacturer Paccar were the driving force behind the fact that the German group's stocks followed suit. Paccar reported a fourth-quarter profit surge that significantly beat expectations, according to Evercore ISI expert David Raso.
Meanwhile, Sartorius was feeling headwind from overseas: Disappointing statements from US competitor Danaher about the prospects for Covid-related sales pushed the laboratory equipment supplier's shares down by around 4.2 percent, putting them at the end of the Dax. As for Danaher, the pandemic was also a significant price driver for Sartorius.
Bechtle's shares, the top value in the MDax, rose by 3.7 percent. The good performance of the IT service provider on the market was justified by the need to catch up compared to its direct competitor Cancom, which has grown even more significantly so far this year. The analysts at Deutsche Bank also provided tailwind, who still see a lot of upside potential for Bechtle.
Secunet Security continues rally
Meanwhile, Secunet Security stocks continued their previous day's rally, rising 7.8 percent as the SDax leader to their highest level since early December. The increase this week has already added up to 13.5 percent. The IT security service provider had presented unexpectedly strong sales figures for 2022 at the start of the week.
In New York, the Dow Jones Industrial at the close of trading in Europe was at the previous day's level, as was the technology-heavy Nasdaq 100. The leading eurozone index, the EuroStoxx 50, rose slightly by 0.05 percent to 4153.02 points. The leading indices Cac 40 in Paris and FTSE 100 in London ended trading with mixed signs.
The euro was last listed at 1.0870 US dollars. The European Central Bank set the reference rate at 1.0858 (Monday: 1.0871) dollars on Tuesday. The dollar thus cost 0.9210 (0.9199) euros.
The current yield on the bond market remained unchanged at 2.18 percent. The Rex pension index fell by 0.10 percent to 126.66 points. The Bund future rose by almost half a percent to 138.37 points.