Stock exchange in Frankfurt: Dax turns negative - Siemens and MTU stand out positively

After initial gains, the Dax slipped into the red on Thursday.

Stock exchange in Frankfurt: Dax turns negative - Siemens and MTU stand out positively

After initial gains, the Dax slipped into the red on Thursday. The discount was manageable at 0.34 percent to 14,188 points. Even surprisingly strong business figures and forecasts from Siemens and MTU with correspondingly high price gains for both shares could no longer give the Dax a boost. On Tuesday, the leading index had risen to its highest level in more than five months. Stockbrokers are also increasingly talking about a consolidation after the brilliant price rally of the past few weeks.

The MDax fell more on Thursday by 0.92 percent to 25,375 points. The EuroStoxx 50 lost 0.7 percent.

With an increase of 6.4 percent, Siemens took the lead in the Dax by far. They rose to their highest level since March. Analyst Gael de-Bray from Deutsche Bank spoke of a "very encouraging outlook" for the industrial group for the 2022/23 financial year. In the final quarter, incoming orders were ten percent above market expectations.

Shares in MTU rose by 5.3 percent, the engine manufacturer is aiming for billions in operating profit for 2025. The company is planning record sales for this year and intends to go even higher in the years to come.

RWE shares initially came under pressure around midday, but recovered again and most recently rose by 1.6 percent. A profit tax on electricity suppliers in Great Britain could be less severe than feared, suspected traders.

The euro fell on Thursday, with $1.0327 being last paid. The European Central Bank (ECB) had set the reference rate at $1.0412 the day before.

The prices of German government bonds increased significantly. The Rex pension index rose by 0.60 percent to 128.28 points. In contrast, the current yield fell to 1.97 percent from 2.09 percent the previous day. The Bund future fell by 0.36 percent to 140.18 points.

NEXT NEWS