Robust economic data from China supported the German stock market on Wednesday. The leading index Dax rose by 0.25 percent to 15,403.27 points after falling slightly on Tuesday.
The MDax of medium-sized companies gained 0.46 percent on Wednesday to 28,780.98 points. The Eurozone leading index EuroStoxx 50 went up by 0.33 percent.
The Chinese economy is apparently on the upswing after the end of the strict corona measures. The official purchasing managers' index for manufacturing rose significantly more than most analysts had expected in February compared to the previous month, climbing to its highest level in more than a decade. Sentiment also improved noticeably in the service sector.
The Chinese stock exchanges had then already jumped significantly. This now had a positive impact on the stock markets on this side of the Atlantic.
In the Dax, Siemens Energy shares rose by a good one percent. Analyst Akash Gupta from the US bank JPMorgan praised the withdrawal of the wind power subsidiary Siemens Gamesa from the stock market as an important step towards a simplified group structure.
In addition, the reporting season for companies entered a new round. Beiersdorf, for example, earned significantly more thanks to good demand last year. However, the fact that the consumer goods group only wants to keep its dividend constant caused resentment: the share certificates lost almost two percent.
The sporting goods manufacturer Puma expects growth to slow down after record sales last year. The Puma papers fell by more than one percent in the MDax.
At the end of the MDax, ProSiebenSat.1 shares lost more than two percent. The television group is postponing the presentation of the annual and consolidated financial statements and possibly also the general meeting at short notice. The reason for this are regulatory issues in connection with the business of Jochen Schweizer mydays.
After positive analyst comments, Aixtron shares continued their recent rally and, as the favorite in the MDax, rose by almost five percent. Recently, the shares of the supplier of the semiconductor industry have had a hard time, but the surprisingly strong outlook for 2023 has allayed all worries on the market, wrote the expert Michael Kuhn from Deutsche Bank Research.