Stock exchange in Frankfurt: Dax oscillates at the previous day's close

The strong run on the German stock market since the beginning of the year faltered somewhat on Wednesday.

Stock exchange in Frankfurt: Dax oscillates at the previous day's close

The strong run on the German stock market since the beginning of the year faltered somewhat on Wednesday. The Dax fluctuated around its previous day's close and increased by 0.03 percent to 15,192.28 points at lunchtime. The MDax for medium-sized companies rose by 0.29 percent to 28,718.95 points.

The inflation data from the euro zone for the month of December had hardly any impact as they only confirmed the previous estimates. "The price data show that prices remain high, which is why future consumption could be sluggish for the time being," wrote market expert Andreas Lipkow. It is still too early to remove the issue of "inflation" from the agenda.

In view of the stock market rally, which has given the Dax a plus of nine percent since the beginning of the year, the reporting season is now all the more important, emphasized portfolio manager Thomas Altmann from QC Partners. "Because the prices, which have already risen significantly, now have to be justified retrospectively with increases in profits. If the companies deliver on the profit side, the price gains receive their legitimacy. Otherwise, adversity in the form of falling prices could soon threaten."

The courses of Continental and BASF underpinned the statements of the stock exchange expert: The tire manufacturer and automotive supplier Conti disappointed with the figures surprisingly presented the previous evening. The shares lost 3.8 percent at the end of the Dax. BASF fell by a moderate 0.1 percent. The withdrawal of the subsidiary Wintershall Dea from Russia and high depreciation caused the chemical company to lose billions in 2022. This is not a surprise, however, according to JPMorgan analyst Chetan Udeshi. Real estate stocks were weighed down by fresh monetary policy signals and analyst downgrades.

Lufthansa reacted positively to the figures from United Airlines with a plus of 1.8 percent. The US airline assumes that its profit in the first quarter will be more than twice as high as analysts are currently expecting.

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