Stock exchange in Frankfurt: Dax rises to its highest level in a year

At the beginning of the week, the Dax rose to its highest level in a year.

Stock exchange in Frankfurt: Dax rises to its highest level in a year

At the beginning of the week, the Dax rose to its highest level in a year. Almost 15.78 points on Monday meant a high since February 2022. Supported by friendly US stock exchanges, the leading German index finally crossed the finish line 0.48 percent higher at 15,653.58 points. The MDax for medium-sized stocks increased by 0.88 percent to 29,172.98 points. The Dax quickly ticked off its lowest level since the beginning of February last Thursday with its high for the year.

The top value in the Dax was the shares of the real estate group Vonovia with plus 3.8 percent. Investors' fears of interest rates have recently receded somewhat into the background, which can be seen from the recent fall in yields in US bond trading. The real estate industry, which is considered to be particularly sensitive to interest rates, is generally bringing quite significant recovery gains.

With a plus of 2.4 percent, SAP from the technology sector, which is also in demand, also became a larger Dax winner. During the course of the day, traders referred to the fact that investors were bidding for the US market research subsidiary Qualtrics as an individual price driver. SAP put the offshoot, which was acquired in 2018 for eight billion US dollars, in the shop window at the end of January. The offer is said to value Qualtrics at around $12.4 billion.

On Friday evening, after the stock market closed, it became known that the armaments companies Rheinmetall and Hensoldt would soon be promoted to higher stock market leagues. Rheinmetall, which will become a member of the Dax in two weeks, grew by 3.5 percent. The future MDax member Hensoldt gained 2.4 percent and reached a record high over the course of the year.

Lufthansa was the leader in the MDax with an increase of 5.7 percent. On Monday, some positive analysts followed a positive outlook, which had already caused a price jump on Friday. HSBC bank experts are now recommending buying the airline's shares.

The situation was different at Covestro: Exane BNP sees no further potential for recovery for the shares of the plastics manufacturer included in the Dax. The downgrade to "neutral" by the French bank ultimately caused the price to slide by 3.1 percent. This put the titles at the end of the Dax.

In the SDax, the shares of SFC Energy rose by 4.5 percent. The manufacturer of direct methanol and hydrogen fuel cells and a partner have secured an order worth millions from India.

The Eurozone leading index EuroStoxx 50 went 0.44 percent higher at 4313.78 points from trading. The also friendly French Cac 40 reached the mark of 7400 points for the first time, which he ultimately could not hold. In London, the FTSE 100 declined moderately, weighed down by falling mining stocks. The New York Dow Jones Industrial recently rose by 1.2 percent.

The euro rose slightly. Most recently, the common currency cost 1.0693 US dollars. The European Central Bank had set the reference rate at 1.0646 (Friday: 1.0615) dollars. The dollar had thus cost 0.9393 euros.

On the bond market, the current yield fell from 2.74 percent on Friday to 2.71 percent. The Rex pension index rose by 0.04 percent to 123.47 points. The Bund future lost 0.42 percent to 131.66 points.