Frankfurt Stock Exchange: Dax moves – Several MDax values at record high

Investors on the German stock market have once again taken some courage: midweek losses were followed by recovery gains.

Investors on the German stock market have once again taken some courage: midweek losses were followed by recovery gains.

Germany’s benchmark Dax index closed 1.44 percent higher at 10,759.27 points. The fact that more and more countries in Europe are considering easing following the recent signs of easing in the Corona pandemic gave investors hope.

The MDax rose 2.86 percent to 23,742.94 points. In the index of medium-sized stocks, the shares of four companies had peaked in the course of trading.

Among the quarterly reports presented were those of the two Dax members Munich Re and HeidelbergCement. Allianz and Hannover Re had paid their dividends in the MDax, which is why their prices only weakened at first sight.

Munich Re’s shares rose 1.8 percent in the first quarter despite slumping profits. One trader praised the reinsurer’s “strong solvency ratio”, which provides information on the own funds.

On the other hand, HeidelbergCement’s shares were up only 0.4 percent. Although the building materials manufacturer’s turnover had fallen less than feared, savings had to be made. The dividend has been cut.

A flood of annual reports reached the market mainly from the MDax. There were some stocks that climbed to record highs amid the Corona crisis. In addition to delivery service Delivery Hero and cooking box shipping company Hellofresh, these were the software specialist Teamviewer and Zalando.

Only Zalando had submitted business figures. As a crisis winner, the Internet fashion retailer expects a significant increase in sales in 2020, after which the shares were up a good 11 percent as the mDax peak.

Morphosys also stood out in the MDax, rising by more than ten percent. The biotechnology company reported a jump in sales for the first quarter.

At the top of the SDax secondary value index, Zooplus’s shares rose by almost 18 percent. Amid the Corona pandemic, the online animal supplies retailer became more optimistic for the full year.

The euro zone’s benchmark EuroStoxx 50 index rose 1.30 percent to 2880.60. The Cac 40 in Paris and the FTSE 100 in London rose even more sharply. In the United States, the Dow Jones Industrial gained 1.7 percent at the European stock market close.

On the bond market, the yield on circulation rose to minus 0.49 percent from minus 0.54 percent the previous day. The Rex bond index fell 0.16 per cent to 145.10 points. The Bund futures rose 0.27 percent to 173.87 points. The euro fell. The European Central Bank set the benchmark rate at 1.0783 (Wednesday: 1.0807) US dollars. The dollar was at 0.9274 (0.9253) euros.