Stock exchange in Frankfurt: Dax tests the 13,000 point mark again

One day after a significant interest rate hike by the European Central Bank (ECB), the German stock market is showing its friendly side.

Stock exchange in Frankfurt: Dax tests the 13,000 point mark again

One day after a significant interest rate hike by the European Central Bank (ECB), the German stock market is showing its friendly side. On Friday morning, the Dax made a new attempt to overcome the hurdle of 13,000 points, which was still too high. Here it was last listed with a plus of 0.85 percent at 13,014.40 points.

The MDax for medium-sized stocks advanced even more than the Dax in early trading, up 1.54 percent to 25,513.49 points. Things also went up on the European stage, the leading eurozone index EuroStoxx 50 was around 0.9 percent higher.

On the corporate side, Deutsche Bank benefited from the ECB's decision as on the previous day and, as one of the larger Dax favorites, rose by more than three percent. Deutsche Telekom increased by around two percent. Good news for investors came from the subsidiary T-Mobile US, which has announced a share buyback program of up to around 14 billion euros.

Also moved numerous analyst studies. Shares in the hospital and medical group Fresenius rose by 2.2 percent. They benefited from a very positive expert commentary from Justin Smith of France's Societe Generale. He thinks the stock is "amazingly mispriced," meaning it's valued far too low. The expert underscores his buy recommendation with a target price of EUR 92 - almost four times the current share price of around EUR 25.

At the end of the index, Heidelbergcement ended up with a discount of 0.60 percent after a purchase recommendation from the British HSBC was deleted. The Dax counted only a few losers before the weekend, and the discounts were all moderate: Airbus, for example, fell 0.2 percent after disappointing delivery figures in August.

According to a dealer, the increased profit target of the customer Fonterra was positive for shares in the Gea Group, it went up by more than two percent. Driven by a positive study by the private bank Berenberg, the shares of the laboratory chain Synlab also climbed by more than five percent in the lower tiers of the stock market.

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