Stock exchange in Frankfurt: Dax rises after presentation of US producer prices

The German stock market has firmed following the release of the latest US producer prices.

Stock exchange in Frankfurt: Dax rises after presentation of US producer prices

The German stock market has firmed following the release of the latest US producer prices. The Dax was last listed 0.40 percent up at 14,371.15 points. Since its low for the year at the end of September, the stock market barometer has recovered by more than 20 percent. The MDax was last 0.38 percent down at 26,205.63 points. The leading eurozone index, the EuroStoxx 50, rose by around 0.7 percent.

In the US, inflation at the manufacturer level continued to weaken. Producer prices rose by 8 percent in October compared to the same month last year. Analysts had expected an average of 8.3 percent. Producer prices are considered an indicator of future price pressure.

The good mood among Infineon investors continues. The day before, the chip manufacturer announced ambitious long-term goals and caused a price jump of almost 8 percent. Now the titles of the Dax group have risen by a further 3.8 percent.

The recent significant recovery in Uniper shares continued on Tuesday with a price increase of 10 percent. Since last Wednesday, the papers of the energy company, which is about to be nationalized, have gained more than 60 percent in value.

A reduced earnings outlook initially sent Nordex shares deep into the red. In the further course, the papers of the wind turbine manufacturer recovered significantly and were 6.7 percent higher in the afternoon. In his reaction to the interim report, analyst Guido Hoymann from Bankhaus Metzler sees a good chance that the turning point has been reached for Nordex.

The euro surged after US producer prices to its highest level since early July and last traded at $1.0455. The European Central Bank (ECB) had set the reference rate significantly lower the previous day at 1.0319 (Friday: 1.0308) dollars. The dollar had thus cost 0.9691 euros.

On the bond market, the current yield fell from 2.10 percent on the previous day to 2.09 percent. The Rex pension index fell by 0.06 percent to 127.26 points. The Bund future gained 0.61 percent to 139.43 points.

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