Frankfurt Stock Exchange: Dax rises – Wirecard and Lufthansa move

The Dax has increased a little further after the strong start to the week. In early trading on Tuesday, Germany’s benchmark index rose 0.69 percent to 10,733.46 points after a subdued start.

The roles of the losers and the winners were clearly distributed: While Wirecard’s shares plummeted after the publication of the KPMG report on the special audit of the balance sheets, Lufthansa’s papers rose sharply after a media report on high state aid from the federal government.

The day before, the Dax had again targeted the recovery high of 10,820 points with a jump of more than 3 percent. The Dow Jones industrial average fell 0.37 percent to 22,668.78 points on Tuesday. The EuroStoxx 50, the eurozone’s leading index, was up nearly 1 percent.

At the Dax end, Wirecard’s shares slumped by around 19 percent. Even after the highly anticipated audit report has been presented, some questions remain unanswered. Wirecard stressed that in the four audit areas, there were still no substantial findings for the years 2016 to 2018 that required corrections.

Lufthansa’s shares soared by more than seven percent. The Federal Republic of Germany should pump around nine billion euros into the badly damaged group, Business Insider reported, citing sources from the group. As recently as Thursday, the group had admitted that it could no longer save itself from the Corona crisis on its own.

There were also strong price swings in the MDax. Siltronic’s shares rose by around seven percent. Strong chip demand supported the semiconductor wafer manufacturer in the first quarter. In addition, despite the Corona crisis, the company is sticking to its dividend.

Kion’s shares slumped more than nine percent after the index ended the quarterly figures. The forklift manufacturer felt the economic impact of the Corona pandemic.