On Wednesday, the Dax partially ironed out the setback from the previous day. Although it has only stabilized further below the 16,000 point mark, "it is also listed at a comfortable distance from yesterday's low of 15,700 points," commented analyst Konstantin Oldenburger from broker CMC Markets. Again weak economic data from China left hardly any traces on the German market.
After higher gains in the meantime, the leading German index finally maintained a plus of 0.49 percent to 15,852.58 points. It returned to its previous consolidation range. On Tuesday it was still below important supports. The MDax for medium-sized companies ended the week 0.41 percent higher at 28,026.16 points.
The Eurozone leading index EuroStoxx 50 went up by 0.66 percent. In Paris and London, the national indices also closed with gains. The New York Dow Jones Industrial, on the other hand, fell by 0.4 percent at the end of trading in Europe.
The fact that the Chinese economy slipped into deflation in July is boosting consumption and reducing inflationary pressure in western countries. Many goods are manufactured in China for export. However, a prolonged fall in prices poses major risks for the economy, as it puts pressure on corporate profits. Experts also attribute the fall in prices to persistently weak consumer demand and problems in the real estate market.
Investors are now waiting for US inflation data to be released on Thursday. They could provide insights into whether or not the US Federal Reserve's hopes of an interest rate pause in September are justified. Both on the German market and on Wall Street, "investors are preparing for a possible rise in inflation rates in the USA," warned expert Oldenburger.
In the middle of the week, the focus of the German market was still on the reporting season. In the Dax, Brenntag titles were among the biggest winners with a plus of two percent. The chemicals trader's somewhat more cautious annual forecasts left no negative traces. Statements on customer demand could be viewed positively, said a trader.
Meanwhile, the shares of Qiagen defied a profit warning from the diagnostics specialist and laboratory service provider with a price increase of 0.9 percent. This could no longer shock investors after peers in the industry such as Sartorius and Merck KGaA had previously lowered their targets. In the small-cap index SDax, competitor Synlab took one of the top places according to figures with a plus of 3.8 percent.
A significantly raised sales outlook caused the recently weakening shares of Delivery Hero to rise by 4.7 percent at the top of the MDax. Experts also saw the quarterly figures for the food delivery service as exceeding expectations.
In contrast, taillight RTL Group fell another 3.6 percent. In addition to the after-effects of the annual targets lowered the day before, negative analyst comments apparently weighed on the mood.
ProSiebenSat.1 gained 3.4 percent, possibly also thanks to purchases from short sellers. At the Jenoptik technology group, the downward trend continued at minus 2 percent. Its quarterly report contained no major surprises, commented Warburg analyst Malte Schaumann.
The euro partially recovered its losses from the previous day and most recently cost 1.0975 US dollars. The European Central Bank (ECB) had previously set the reference rate at $1.0968.
On the bond market, the current yield fell from 2.51 percent on the previous day to 2.49 percent. The Rex pension index rose by 0.05 percent to 124.86 points. The Bund future lost 0.21 percent to 132.81 points.