On the German stock market, investors remain optimistic. One reason is the growing hopes of a revival of global economic activity through easing measures in the Corona crisis.
Even more important is the affirmation of the world’s two largest economies, the US and China, despite tensions over the pandemic triggering to stick to the sub-agreements in the trade war. The upcoming US labour market report for April is likely to be a dampener on the positive stock market sentiment.
The Dax climbed 1.27 percent to 10,896.52 points in early trading. The MDax was up 0.76 percent at 23,925.57 points. The euro zone’s benchmark EuroStoxx 50 index gained 0.95 percent to 2907.84 points. This means that there are no major changes in the market week that is drawing to a close.
One of the reasons for this is the extremely weak economic data resulting from the Corona crisis. Also on this day, the monthly job data from the United States is again important.
In the Dax, Siemens shares rose 5.4 percent at the top of the index. Traders pointed out in particular that the industrial group expects only a moderate decline in sales for the financial year ending 30 September and also intends to bring another subdivision to the stock exchanges. The drive subsidiary Flender is to be split off by the end of September. Siemens intends to integrate the Wind Energy Generation division into Flender. The new company has a pro forma turnover of around two billion euros.
Lufthansa shares were among the weakest at minus 0.8 percent.
In the second row, Bechtle, Rheinmetall and Jungheinrich also open their books. Shares in IT service provider Bechtle and defense contractor and automotive supplier Rheinmetall rose 2 percent. In the SDax, the forklift manufacturer Jungheinrich showed little change with a plus of 0.2 percent. At Bechtle, it was generally said that the quarter was “strong”. At Rheinmetall, the armaments division in particular was described as “excellent” and the outlook for 2020 as “positive”. Jungheinrich had only announced details and no longer dares to predict 2020 because of the Corona crisis.
