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Frankfurt Stock Exchange: Dax at daily high – quarterly reports support

The Dax started the trading week shortened on Monday with strong gains due to the May holiday. Quarterly figures from Deutsche Bank and bayer were initially buoyant. Shortly before the close of trading, the automotive supplier Continental was added with its updated preliminary annual report. There was also positive news from Japan. There, the central bank is now helping the economy in the fight against the Corona crisis with unlimited government and corporate bonds.

Germany’s benchmark index closed at a one-day high of 3.13 percent at 10,659.99 points. The MDax, which is mostly medium-sized, was up 1.54 percent at 22,584.22 points.

Profits were also recorded in Asia, Europe and the USA. The euro zone’s benchmark EuroStoxx 50 index rose 2.60 percent to 2882.09 points, while Paris and London also posted strong gains. In the Us, the Wall Street index Dow Jones Industrial rose about 1 percent at the European close.

In the Dax, shares of the three companies that reported their quarterly results closed at a one-day high. Deutsche Bank’s shares rose particularly strongly at 12.7 percent.

The agrochemicals and pharmaceuticals group Bayer defied the Corona crisis in the past quarter thanks to high demand in the agricultural business and after the coagulation inhibitor Xarelto. Investors rewarded the fact that it also exceeded expectations with purchases. The stock gained 5.8 percent.

Shares of Continental were down 6 percent on the day after the auto supplier updated its previously released preliminary figures.

Adidas, on the other hand, rose only a moderate 0.7 percent. The sports goods maker cut sales and profits in the first quarter due to the virus crisis. Investors were hopeful that the recovery in China has continued in recent weeks.

Lufthansa’s shares, which rose 10.5 percent, were helped by the prospect of a multibillion-dollar bailout. The volume is between 9 and 10 billion euros, the German Press Agency reported, citing government sources. As recently as Thursday, the airline had admitted that it could no longer save itself from the Corona crisis on its own.

Wirecard’s shares experienced a sharp decline in the afternoon. After falling by almost 12 percent at times, they recovered by the close of trading. In the end, there was a small increase of 0.5 percent.

On the German bond market, the Rex bond index rose 0.05 percent to 144.78 points. The yield on circulation fell to minus 0.47 percent from minus 0.46 percent on Friday. The Bund futures lost 0.12 percent to 172.53 points in early evening.

The euro was trading at US1.0822 US cents. The European Central Bank set the benchmark rate at 1.0852 (Friday: 1.0800) dollars. The dollar thus cost 0.9214 (0.9259) euros.

Matthew Velterhttps://etrendystock.com/
With 5 years of experience as an editor, Matthew has been a crucial part of eTrendy Stock since its inception. He looks after the editing of news content published on eTrendy Stock. Apart from investing his time in editing, he also provides well-researched news articles for the U.S. niche. Mathew studied at University of central Florida.

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