Stock market – Dax on a record milestone – economy

The Dax is only about 80 points from its record. Support is provided, among other things, by fireworks at Hellofresh. On Wall Street, the Dow Jones, S&P 500 and Nasdaq Composite are trading more than ever.

Quarterly reports from companies that have been positively received have the Dax continued towards an all-time high on Tuesday. After its good start to the month the day before, the German benchmark rose 0.9% to 15,954 points at the end of the session. His August record was 16,030.

Above all, fireworks at Hellofresh gave Dax a tailwind. Shares of mail order company Kochbox soared after another 17% increase in sales forecasts. Stock brokers attributed Hellofresh’s rapid rise to a “short squeeze” – some investors apparently had to cancel their bets on a further drop in prices after the quarterly figures. Hellofresh had lost almost twelve percent of its value over the past five days.

Dax was also supported by significant gains in shares of healthcare group Fresenius and its dialysis subsidiary Fresenius Medical Care. While Fresenius was able to score with higher annual targets, the announced cost reduction plans were approved by FMC. FMC gained 4.5% at its peak, Fresenius up 6.5%. Steel stocks such as Salzgitter, Klöckner & Co and Thyssenkrupp were penalized by a further fall in iron ore prices and lost up to 6% of their value. In the S-Dax small cap index, in-store pharmacy stocks initially found no clear direction based on the quarterly numbers, but then started a rally. Most recently, they have gained 4.6 percent. The most important indices have reached new records on Wall Street: the Dow jones closed 0.4% higher at 36,052 points and therefore higher than ever. The S&P 500 and the tech-packed Nasdaq Composite also hit record highs. Pfizer convinced by strong sales with the Covid-19 vaccine. For this year, the pharmaceutical company now expects vaccine sales of $ 36 billion, 7.5% more than before. The share price rose four percent. Avis Budget newspapers caused a sensation with a record price increase of up to 218%. The car rental company’s stocks were more expensive than ever at $ 545.11. Avis doubled its quarterly revenue to a record $ 3 billion.

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