FRANKFURT / LONDON (IT BOLTWISE) – The DAX is stable as investors look forward to the US Federal Reserve’s upcoming interest rate decision. Despite a slight increase of 0.07 percent, uncertainty remains in the market. Speculation about takeovers and analyst ratings influence the price development of individual companies.
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The DAX was only able to record a slight increase on Monday as the uncertainty surrounding the US Federal Reserve’s upcoming interest rate decision kept the markets in suspense. With a minimal increase of 0.07 percent, the leading index closed at 24,046.01 points. Since its low point in November, when it fell below the 23,000 point mark, the DAX has risen by five percent. Nevertheless, investors are hesitant to make clear decisions and are waiting for signals from the USA.
While the DAX rose slightly, the MDax of medium-sized German companies fell by 0.11 percent to 29,665.08 points. This reluctance could be due to the wait-and-see attitude of investors awaiting the Fed’s interest rate decision. A JPMorgan strategist, Mislav Matejka, warned of a possible priced-in rate cut and the risk that investors could realize year-end profits. Rising yields in the US bond market are making fixed income investments more attractive and could drive up future financing costs.
Klöckner & Co caused a stir in the SDax, with its share price rising by 29 percent thanks to takeover rumors and a takeover by Worthington Steel. This optimism also had an impact on Salzgitter, which benefited from a buy recommendation from UBS and gained more than five percent. Meanwhile, arms stocks attracted attention, with Renk shining with a share price increase of 5.5 percent. Analysts see military spending continuing to rise, regardless of the outcome of the Ukraine war.
In the DAX, Bayer shares led the list of winners with an increase of 4.7 percent, boosted by an optimistic analysis from JPMorgan. Meanwhile, Gea shares were under pressure after Morgan Stanley downgraded them. The market also reacted negatively to weak outlooks from Hornbach Holding and Stabilus, whose shares fell significantly in the SDax. Schott Pharma stood out with a further share price decline and suffered from disappointing prospects and negative analyst ratings. At Carl Zeiss Meditec in the MDax, a change in management due to a violation of the code of conduct led to turbulence, which calmed down somewhat in the end.
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