Bargain hunters and, for now, slightly less worried about a collapse of Chinese real estate company Evergrande brought price gains to the German stock exchange on Wednesday. Investors were also eagerly awaiting the expected monetary policy signals from the US Federal Reserve in the evening, which, however, were not to be released until after the close of trading in Europe. Of Dax gained one percent to 15,507 points. Real estate developer Evergrande, with more than $ 300 billion in debt, announced it would serve an interest payment of just under $ 36 million due Thursday for a domestic bond. Since the next payout period is about to end soon, that’s just a drop in the ocean, said Christian Henke, analyst at brokerage IG. “The risk of contagion for the Chinese and global financial system has not yet been banished.”
In Dax, Deutsche Post shares were among the weakest at minus 1.5% after US competitor Fedex fell short of market expectations with its earnings and lowered forecasts. Fedex papers lost 8.2% of their value in New York. The automaker’s shares were among the Dax’s big favorites, however. Daimler, BMW and Volkswagen gained between 2.1 and 3.8%.
Securities of IT service provider Bechtle fell seven percent after a buy recommendation that Bankhaus Metzler withdrew, making them M-Dax’s biggest loser. Papers from biofuel maker Verbio sagged eleven percent after a disappointing outlook on the S-Dax side. Airbnb competitor Hometogo received a favorable reception on the stock market. The shares gained 0.9 percent. The Berlin-based travel platform had slipped into Lakestar’s empty wallet and found its way to the purse through the back door.
On Wall Street, gains exceeded the Fed rate meeting that night. Index of default values Dow jones improved by more than one percent to 34,257 points. The US Federal Reserve (Fed) is heading towards an early exit from crisis mode caused by the Corona crisis and is considering an interest rate hike for 2022.