The German stock market reacted in a friendly manner on Tuesday following the release of the highly anticipated US inflation data. Ultimately, however, the tailwind was limited. “The market is cautiously positive that there have been no negative surprises,” said one trader. The Dax closed up 0.1% at 15,723 points. The upward price trend in the United States eased slightly. Inflation data for August suggests that US inflation may have peaked. In DAX, shares of pharmaceutical and specialty chemicals group Merck fell 1.2% after a sell recommendation from Swiss bank UBS and were among the biggest losers in DAX. It is only recently that they have reached an all-time high. However, analyst Michael Leuchten considers the high rating to be overstated and does not believe the medium-term growth sought by the Darmstadt-based company will have an equal impact on results.
In M-Dax, shares of medical technology group Siemens Healthineers were among the favorites with a 3.1% premium. Stockholders spoke of the stock’s general good mood with Dax’s imminent rise and the prospect of an increase in medium-term targets. Berenberg analysts were also positive. Norma’s shares, however, slumped in the S-Dax by 15.8%. The automotive and industrial supplier from Hesse has lowered its profit forecast for the current year due to rising material and freight costs.
In Hong Kong, shares of struggling Chinese construction company Evergrande fell a further 11% after the company said a new liquidity crunch loomed due to a lack of real estate sales. Evergrande papers have lost around 80% of their value since the start of the year. In the United States, the stock markets went up and down. After significant price gains at the start of trading, the closing Dow jones 0.8 percent in the red. Vaccine developer Curevac has caused a stir with individual values: the company forgoes production partnerships for its Covid-19 vaccine and draws conclusions from the study’s disappointing results. Newspapers lost eight percent.