Stock exchange in Frankfurt: Dax rises for the sixth day in a row - record high in sight

Despite the recent stock market rally, investors in the German stock market remain confident.

Stock exchange in Frankfurt: Dax rises for the sixth day in a row - record high in sight

Despite the recent stock market rally, investors in the German stock market remain confident. The Dax climbed to an interim high since January 2022 in early trading on Monday. However, after a brief jump over the hurdle of 15,900 points, the gains crumbled somewhat. Most recently, there was an increase of 0.42 percent to 15,873.08 points. Chart analyst Christoph Geyer already sees the record high from 2021 within reach, even if it is a good way away at 16,290 points.

The MDax of medium-sized stock market stocks rose by 0.84 percent to 28,022.94 points on Monday morning. The Eurozone leading index EuroStoxx 50 gained 0.19 percent to 4399.27 points.

Among the individual values ​​in the Dax, the shares of the aircraft manufacturer Airbus with plus 1.7 percent and the engine manufacturer MTU with plus 2.3 percent were the favourites.

The shares of the armaments and technology company Rheinmetall increased by 0.8 percent despite another cyber attack. Company spokesman Oliver Hoffmann confirmed the cyber attack on Friday evening and specified that only the group's civilian business was affected. A dealer pointed out that Rheinmetall had received its first order in the field of e-mobility from a Chinese start-up company and rated this positively. In the MDax, the shares of the armaments company Hensoldt gained 1.7 percent and marked a record high.

Teamviewer, meanwhile, was the top value in the index of medium-sized stock corporations with an increase of almost 7 percent. A buy recommendation from the private bank Berenberg gave fresh impetus to the software company's share price recovery, which has been faltering since mid-February.

Traton moved up 3.4 percent in the SDax. After a good start to the year, VW Commercial Vehicle Holding is considering raising its forecast for the year. According to dealers, sales and adjusted operating profit were significantly higher than estimates in the first quarter.

Shares in chip equipment makers like Aixtron came under pressure across Europe after a report in a Taiwanese business newspaper about plans by the world's largest chip maker to cut investment plans for 2023.

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