The German stock market recovered slightly from its drop in prices at the start of the week on Tuesday. The morning wins in the Dax were sometimes completely collapsed during trading, but eventually the leading index was able to save a more than 0.6% to 15,216 points in the evening. At the start of the week, the leading index had slipped 2.6%. Among Dax favorites, shares of Heidelbergcement rose 2.1%. In industry, the first half of the year should have been strong, which is why market expectations are set to rise again, an analyst at US bank JPMorgan wrote. In M-Dax, shares of ProSiebenSat.1 hovered between gains and losses, although the media group again increased its forecast for the current year. At second glance, however, the new forecast looks pretty lackluster, a stockbroker said. The stock closed 0.7% higher. After the heavy losses of the day before, the title of RWE, the weakest value of the DAX, fell again by 1.4%. The energy company fears damages in the order of several million double digits due to the flood disaster.
UBS shares were up more than 5.3% in Zurich. The bank’s quarterly results have largely exceeded their forecasts and market expectations, greeted analyst Flora Bocahut of investment bank Jefferies. Shares of AEG’s parent company Electrolux, however, fell 6.4% in Stockholm. The Swedish home appliance maker returned to profitability, but earned less than expected.
Investors on the US stock exchanges were more confident. the Dow jones closed 1.6% higher at 34,511 points.
Surprisingly strong quarterly results and positive analyst reviews are encouraging investors to join IBM. Shares of the IT group rose 1.5%. Encouraging results from testing a cocktail of antibodies against the delta variant of the coronavirus have pushed prices up 9% at drug company Immunone. The company plans to file a request with the US FDA to begin clinical trials in the coming weeks.