Markets

Dax is getting closer to its all-time high

D.he Dax resumed his recovery on Wednesday, which he started on Monday afternoon. Driven especially by automotive stocks, the German stock index rose by 0.6 percent to around 13,500 points on the last trading day of the week until Wednesday noon. But the notch from Monday has not yet been erased.

At the beginning of the week, investors reacted in alarm to an apparently dangerous mutation in the corona virus. To contain the virus, restrictions were imposed on traffic with the UK, which slow down economic performance and therefore did not go down well on the stock market.

After the German share index closed at 13,630 points on Friday, it temporarily lost more than 4 percent on Monday. Since then, the Dax has only struggled to reach its all-time high from February of 13,795 points.

On Wednesday, Daimler shares topped the list of daily winners in the Dax and Euro Stoxx 50 with a price gain of 3 percent to more than 58 euros. Investors reacted to speculation that Daimler, following the example of VW, could bring its truck division to the stock exchange in the coming year. A partial sale to financial investors is apparently also under discussion.


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To the detailed view

VW brought its Traton truck division to the stock exchange in 2019 with mixed success. The commercial vehicle manufacturer MAN, which was bought by VW, is also still listed. In tow from Daimler, other car stocks were also in demand in the Dax on Wednesday, above all Continental with a price increase of 2 percent.

The M-Dax, which marked a new all-time high on December 18 with 30,468 points and is currently a good 6 percent higher than a year ago, showed little change on Wednesday with 30,240 points. Suppliers for the semiconductor industry were in demand. The share of Aixtron, a supplier of coating systems, climbed by around 2 percent to 14.50 euros, the highest price since April 2018.


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To the detailed view

Wacker Chemie, a producer of silicon wafers, increased by 1.5 percent to 116 euros. The share has increased its value three and a half times since March. The shares of Siemens Energy also gained 1.5 percent and reached 27.90 euros, the highest price since the IPO in September.

In the S-Dax, the Hornbach Holding shares had to give up part of their high profits from the previous day. At the top of the daily winners in the S-Dax, on the other hand, was the share of the auto supplier Deutz.

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