Investors in European equity markets continued to be cautious about the uncertain market environment. the Dax hovered around its closing price the previous day and closed slightly higher 0.3% at 15,966 points. In contrast, positive business news drove M-Dax to an all-time high. The mid-sized equity index rose 0.8% to 36,011 points. Overall, however, the geopolitical risks following the abrupt change of power in Afghanistan and the spread of the Delta coronavirus variant have prompted caution. Investors were hoping for further impetus from the minutes of the latest US Federal Reserve meeting, which was due to be released on the evening of the stock market close in Europe. There have been significant price drops in auto stocks, which are considered very cyclical. In addition to the uncertainties surrounding the pandemic, price pressure also continued to worry investors. In Dax, Daimler stocks were the second big loser with minus 1.3%, followed by Volkswagen and BMW with discounts of 0.9 and 0.6%. In M-Dax, shares of Wacker Chemie rose by more than five percent. The chemical company has received a large order for solar silicon from China. The Chinese manufacturer of solar modules listed in the United States Jinkosolar has secured access to a total of 70,000 tonnes of polysilicon by the end of 2026. In addition, according to information from its association VCI, the German chemical industry capitalizes on the good start to the year and is heading for a record year. Papers at the store’s pharmacy, which had come under heavy pressure in recent months, recovered somewhat and rose one percent. Investors drew positive conclusions from the sales figures of the Swiss mail order pharmacy Zur Rose.
Thanks to the clearly growing demand for beer in China and Russia, Carlsberg has also grown. The Danish group’s shares rose after a more optimistic outlook of 2.3%. “We do not rule out a further increase in the forecast for the third quarter when the headwinds of the pandemic subside,” Jefferies analysts say.
It was on Wall Street Dow jones little changed at mid-market at 35,315 points.