Good reporting season drives course
DAX reaches the next record value
February 16, 2024, 1:31 p.m
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Wall Street is once again giving the DAX a tailwind, causing it to climb to a new all-time high. Again in the last few days. There are several drivers for the upswing.
The DAX’s hunt for records has entered a new round on the German stock market. The leading German index continuously increased its gains over the course of the day and reached a record of 17,198 points. At midday the DAX was up 0.86 percent at 17,194 points. On a weekly basis, there are signs of a gain of a good one and a half percent.
The DAX only reached a record high on Thursday. In anticipation of long-term falling interest rates in the USA and the Eurozone, investors are turning to stocks. Investors hope that a change in monetary policy will give the economy new impetus.
The MDAX of medium-sized stocks rose by 0.59 percent to 26,212 points on Friday. The EuroStoxx 50, the leading index for the euro zone, rose by 0.77 percent. Price drivers continue to be good news from the reporting season. She runs very well on both sides of the Atlantic. However, the new highs could also be related to the small expiry day, traders point out. There is a need for coverage from the options market, but it will collapse again on Monday.
The market focus is currently primarily on new US inflation data: the producer prices (PPI) for January will be presented in the afternoon. The automotive industry continues to surprise when it comes to company figures. Hella has now also presented good results, after Stellantis, Renault and Michelin had already impressed the markets over the course of the week. Hella is down 0.5 percent. For VW, BMW and Mercedes-Benz, however, it goes up by up to 1.3 percent. Auto supplier Valeo rose by 2.3 percent and Forvia by 2.5 percent, Continental rose by 1.1 percent in the DAX.