Record high within reach
DAX finally climbs the 16,000 mark
05/18/2023 11:42 am
The DAX has been flying high since the beginning of the year. But the leading German index failed several times at the symbolically important mark of 16,000 points. On Ascension Day, he starts with a surprising amount of momentum and sets his sights on the record high.
The DAX has ended its roughly two-week rigidity and jumped over the 16,000 point mark in the morning. While many people enjoy the day off on Ascension Day, the leading German index shot up by 1.6 percent shortly after the start of trading and temporarily climbed to 16,230 points. The DAX was last this high in early 2022, before the Russian attack on Ukraine began. The record high is 16,290 points. Since the beginning of the year, the DAX has already gained 15 percent or more than 2000 points.
There was a boost from the USA, among other things, where US President Joe Biden raised hopes that the dispute over the debt ceiling would be resolved in the near future. Also the MDAX of medium-sized companies therefore started the day energetically and gained one percent to 27,684 points. The Eurozone leading index EuroStoxx 50 rose by 0.9 percent to 4362.08 points.
In general, however, a rather leisurely trading activity with thin sales is expected on Ascension Day. Larger price fluctuations can therefore also occur in the case of individual values. So the course moved from heavyweight Siemens at times by 2.6 percent. The Commerzbankshares rose 3.4 percent.
Car values asked
Car stocks were also in demand, in line with the generally firm trend in Europe. Above all, they became more expensive Mercedes-Benz Group and Volkswagen by around two percent each. shares of SiemensEnergy benefited from a buy recommendation from the US bank Citigroup and at times rose by 2.1 percent. Analyst Vivek Midha sees scope for the energy technology group to improve its margins. He also sees encouraging signals with regard to the wind power subsidiary Siemens Gamesa.
At the DAX end, only optically high losses cut shares in the real estate group, among other things Vonovia and the hospital operator Fresenius a: They were traded ex-dividend. Eon also lost more than 5 percent.
Took the top position in the MDAX SiltronicPapers with a price increase of more than two percent, positive industry news from Japan provided a tailwind. There have been reports of large investments by chipmakers in the country.