It's a holiday in Germany, but trading is taking place on the Frankfurt Stock Exchange. The low sales also lead to a jump to a record level.
The Dax rose to a record high of almost 18,700 points on Ascension Day. The leading German index continued its winning streak over the past four trading days in early trading, with the record then falling in the afternoon. The German stock market barometer rose to 18,699.29 points. The previous high on April 2nd was 18,567 points.
Most recently, the Dax was up 1.00 percent at 18,684 points. At the same time, the MDax of medium-sized stocks remained stable with an increase of 0.14 percent to 26,733.19 points.
Slightly positive economic signals from China and weaker than expected labor market data from the USA provided tailwind. Sales were low on the holiday in Germany on Thursday, so a few orders were able to trigger major price movements.
VW, Baer and Siemens: Export-oriented companies are increasing
Among the individual stocks, shares of export-oriented companies such as VW, BASF, Bayer, Siemens and Infineon rose. The fact that the chip developer Arm Holdings, whose technology is in practically all smartphones, had disappointed the evening before in the USA with its sales forecast for the new 2024/25 financial year was ignored.
Siemens Energy, the favorite in the leading index with a gain of 2.8 percent, benefited from a positive comment from HSBC. The bank reiterated its buy recommendation for the energy technology company and significantly increased the price target from 17 to 27 euros.
The euro rose in the afternoon to $1.0760. The European Central Bank set the reference rate on Wednesday at $1.0743. On the bond market, the current yield rose from 2.49 percent the day before to 2.55 percent. The Rex bond index fell by 0.25 percent to 124.35 points. The Bund future fell by 0.07 percent to 131.25 points.
