No trading in the USA
DAX briefly jumps above the 16,000 point mark
November 23, 2023, 6:52 p.m
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After several attempts, the German leading index DAX has now managed to overcome the hurdle of 16,000 points. Almost 500 points are still missing from the all-time high. However, there was a lack of driving impulses, at least on today’s trading day.
After several unsuccessful attempts, the DAX has now made it: the leading German index is over the 16,000 mark. The DAX climbed to 16,005 points. Its all-time high is 16,470 points. The stock market barometer was last quoted above the mark at the end of August. However, the leading index quickly came back and ultimately closed 0.2 percent higher at 15,994 points. The MDAX of medium-sized companies fell by 0.1 percent to 26,101 points. The Eurozone index EuroStoxx 50 gained 0.2 percent. The national stock exchanges in Paris and London also rose moderately. Due to the Thanksgiving holiday in the USA, late trading remained quiet due to a lack of impulses from New York.
++ Read the most important events of the trading day here +++
Economic data from the Eurozone was hardly moving. Sentiment among Eurozone companies improved surprisingly significantly in November, according to the S&P Global Purchasing Managers’ Index. Economists still expect the euro economy to slip into recession. In the USA, Wall Street was closed for the Thanksgiving holiday. On Friday there is also only a shortened period of trading.
Among the individual values, attention was primarily directed towards SAP. The software provider’s shares rose by one percent. In the spring, Deutsche Börse wants to raise the cap on a company’s weighting in the DAX, MDAX, SDAX and TecDAX from 10 to 15 percent. This is intended to increase awareness of the large corporations among investors. The aim is also to prevent companies from migrating to other stock exchanges, as the industrial gas manufacturer Linde did in the spring. As things stand, this change is particularly positive for SAP.
The share, which has risen by almost 50 percent so far this year, actually has an index weight of more than ten percent. However, caps have been regularly applied here so far, meaning that anything over 10 percent is not taken into account.
As one of the weakest DAX stocks, Rheinmetall shares fell 1.9 percent. Hensoldt fell by 2.5 percent in the MDAX. A report in the “Augsburger Allgemeine” was incriminating here. Accordingly, following the budget ruling of the Federal Constitutional Court, the Federal Ministry of Finance has also blocked the Ministry of Defense from receiving funds from the Bundeswehr special fund, it was said. The finance and defense ministries denied this.