At the end of a weak week, the Dax is struggling with further stabilization despite good targets. After a friendly start on Friday, the German leading index recently claimed a plus of 0.20 percent to 14,293.29 points. The MDax for medium-sized stocks rose by 0.26 percent to 25,529.92 points. In contrast, the leading eurozone index, the EuroStoxx 50, was almost unmoved.
The day before, the Dax had closed minimally in the black, ending a three-day losing streak. On a weekly basis, however, he is heading for a loss of around one and a half percent after just barely missing the ninth weekly gain in a row last week.
Analyst Jochen Stanzl from the financial services provider CMC Markets sees "bargain hunters" at work "who start at the current level and hope for new signs of declining inflation in the USA".
Before the weekend, the recovery of the US stock exchanges and the positive development on the Asian markets also helped the leading German index. In New York, according to Credit Suisse, the increase in weekly initial jobless claims supported. Interest rate worries had been the main theme in the correction of the previous days. According to Stanzl, the US producer prices due in the afternoon could provide important indications of the future development of inflation.
The last interest rate decision by the US Federal Reserve for the year is due this Wednesday. Economists are assuming that the monetary watchdogs will hike interest rates by just 0.50 percentage points this time, after raising them four times in a row by 0.75 percentage points each time. A weaker than expected inflation would give them additional arguments for it.
Hong Kong's Hang Seng Index stood out among the Asian stock markets that followed the positive trend in the US with a significant gain. Here, investors appear to be hoping that China's SAR leadership will follow further easing of China's zero-Covid policy. In addition, new Chinese inflation data, which according to Deutsche Bank show a slowdown in inflation, supported stock prices in Asia.
On the German stock market, Carl Zeiss Meditec, which brought up the rear in the MDax, stood out negatively with a recent price slide of around five percent. The medical technology group expects the operating margin in the first quarter of the current fiscal year to remain well below the prior-year figure due to the lockdowns in China and rising costs. Carl Zeiss is also assuming a decline for the year, while analysts had previously expected a slight increase. One trader called the quarterly outlook weak in particular.
In contrast, the papers of the sporting goods manufacturers Adidas and Puma defied negative news from the American industry colleague Lululemon. While Puma conquered the top of the Dax with a plus of two percent, it was enough for Adidas to gain half a percent. The Lululemon results for the third financial quarter were good, but for the final quarter the consensus is already at the upper end of the announced target ranges, said an expert. This is not good news for such an expensive stock. However, Puma, Adidas and Nike have already stacked deep, so that the mood dampener is limited here.
With the Dax stabilized, the Sartorius shares also ended the recent series of losses and recovered by more than one percent. The participation of the pharmaceutical and laboratory equipment supplier in the Swedish Bico Group, however, did not admit to stock marketers having any influence on the price.