The Dax was stable after a strong Monday. However, the gains at the start of trading on Tuesday, which brought the leading German index back close to the hurdle of 13,000 points, crumbled again in part. In early trading, the Dax rose by 0.20 percent to 12,957.85 points and is now hovering around the 90-day line again, which chart-oriented investors use as an indicator of the medium-term trend. The 50-day line, which was surpassed the previous day and is also a signal for the medium-term trend, held.
The MDax rose in the morning by 0.37 percent to 23,326.90 points. At the same time, the EuroStoxx rose by 0.40 percent to 3541.78 points.
On the one hand, falling gas prices continue to provide relief and SAP's quarterly report was also well received by investors. On the other hand, however, weak figures from Covestro and, above all, Linde's announcement that it will withdraw from the German stock market are weighing on the mood. New impetus for the stock market is expected shortly from the domestic Ifo business climate, which is likely to have clouded over further.
SAP shares rose by up to almost five percent at times, but recently reduced their plus. Europe's largest software manufacturer received support from the weak euro at just the right time and, not least because of this, got through the difficult third quarter better than feared by experts.
The plastics group Covestro, on the other hand, missed the estimates with its operating result (Ebitda) and also lowered the earnings outlook at the upper end, as Jefferies analyst Chris Counihan complained. The papers lost 1.9 percent. The shares of the Dax heavyweight Linde were even weaker, falling by 4.7 percent. The strong quarterly figures of the French competitor Air Liquide received little attention. Rather, it is the planned farewell to the Frankfurt Stock Exchange that is a burden. In the future, the shares of the industrial gases manufacturer and plant constructor will only be listed on the New York Stock Exchange.
Adidas lost 2.8 percent and Puma 2.4 percent.
