The German stock market has picked up again. However, the standard values in the Dax clearly lagged behind the development of companies in the second and third rows.
Ultimately, the leading index was 0.34 percent higher at 15,132.85 points, while the MDax for medium-sized companies rose significantly more by 1.27 percent to 28,790.40 points.
The Dax was slowed down, among other things, by losses at the Dax heavyweight SAP, because the numbers and goals of the software group were not well received on the market. In addition, the standard values on the US stock exchanges did not move either, as the Dow Jones Industrial, which is more or less at the level of the previous day, shows.
Strong price gains at the US electric car manufacturer Tesla pushed tech stocks in New York. Under these circumstances, the German selection index TecDax was the best of the four best-known indices in the Dax family with an increase of 1.5 percent. This also supported values in the classic technology sector in Germany, such as Infineon, which rose by around 4.8 percent as the second-best Dax value.
Company reports provided light and shade. After negative figures and cautious financial targets, SAP shares temporarily accelerated their recent downward trend, but they were still able to reduce their minus to 0.9 percent. This made the software group one of the weakest values in the leading index. SAP announced it would cut 3,000 jobs and is also considering selling its US subsidiary Qualtrics.
Sartorius, on the other hand, was the clear leader in the Dax, although the pharmaceutical and laboratory equipment supplier is preparing for a significantly reduced pace for 2023 after another strong year with significant growth in sales and earnings. However, encouraging statements on business development up to 2025 pushed the stocks to the top of the Dax on Thursday with a price jump of 6.5 percent.
In New York, the technology-heavy Nasdaq 100 recently overshadowed the little-moving Dow with a rise of 0.9 percent. The EuroStoxx ended trading up 0.6 percent at 4173.98 points.
The euro was last listed at 1.0866 US dollars. The European Central Bank set the reference rate at 1.0895 (Wednesday: 1.0878) dollars. The dollar thus cost 0.9179 (0.9193) euros.
On the bond market, the current yield rose from 2.10 percent on the previous day to 2.17 percent. The Rex pension index fell by 0.28 percent to 126.68 points. The Bund future was 0.59 percent lower at 137.75 points.