The leading German index Dax reached its new high on Wednesday (symbolic photo)
Source: dpa/Boris Roessler
The Frankfurt Stock Exchange cheer: The Dax remains on record course and has climbed a new all-time high after a few weeks. The prospect of a more relaxed monetary policy in the coming months is driving the leading German index further up from the point of view of experts.
Before the US interest rate decision, the Dax continued its recent winning streak on Wednesday and surpassed the record high that was only a few weeks old. In the US, inflation at the manufacturer level weakened again in May.
The Dax rose to a high of 16,336.27 points in the morning and was last listed 0.5 percent higher at 16,307.87 points. It thus expanded its previous annual plus to around 17 percent. The MDax for medium-sized companies increased by 0.3 percent to 27,567.03 points on Wednesday. The EuroStoxx 50 was up 0.7 percent.
A large majority of market participants and economists expect that the US monetary authorities will initially pause interest rates after ten increases in a row. But it should also be at least as important as the interest rate decision Statements on the further course of monetary policy become. It is currently still expected that the Fed could consider raising interest rates again in July.
The papers from K+S plunged to their lowest level since November 2021 after a profit warning. The price slide of up to 9.7 percent was triggered by the warning of the fertilizer companythat it is unlikely that the annual targets will be reached due to the price trend for potash fertilizers. Most recently, the shares recovered to minus 3.2 percent.
Thyssenkrupp’s shares increased by 2.1 percent. Federal Economics Minister Robert Habeck (Greens) was confident on Wednesday that a planned billions in funding for a plant for green steel production in Duisburg in the summer will also be formally approved by the EU Commission. However, traders did not see any real course driver in the message that was already emerging the evening before.
The travel group Tui Germany is benefiting from strong demand. One looks at a strong summer season “and in the last few weeks for the first time again with guest numbers above 2019,” said Germany boss Stefan Baumert. That’s why Tui ordered more contingents in some destinations. The Tui shares rose by 5.1 percent.
The euro was last traded at $1.0825. The European Central Bank had set the reference rate at $1.0793 the day before. The dollar had cost 0.9265 (0.9289) euros. On the bond market, the current yield rose by 2.43 percent on the previous day to 2.50 percent. The Rex pension index fell by 0.38 percent to 124.94 points. The Bund future remained at 133.49 points.
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