The German stock market rose moderately on Thursday. The Dax made up for its initial losses over the course of time and turned positive, but fell off again a bit in late trading and ended up just below 17,000 points. However, Tuesday's record high of around 17,050 points is still within reach. Ultimately, the leading index gained 0.25 percent to 16,963.83 points. The MDax of the 50 medium-sized stocks rose by 0.29 percent to 25,785.98 points.
"The 17,000 mark is proving to be a tough one for the German stock index. Currently, neither good quarterly figures nor interest rate cut fantasies allow the index to jump high enough over this bar without breaking it again in the end," explained analyst Konstantin Oldenburger from CMC Markets. "The discrepancy between the market's aggressive interest rate cut expectations and the central banks' rather modest indications could at some point become a real problem for the stock market," warned Oldenburger.
In addition to record marks on both sides of the Atlantic, companies' quarterly balance sheets continue to attract interest. Siemens shares made up for initial price losses and even reached a record high of 1.8 percent. Investors initially complained about the poor performance of the automation and digitalization division in the first quarter. But then the unexpectedly profitable Smart Infrastructure division came into focus and drove the price up. The Siemens shares closed with a gain of 1.0 percent.