The dax shook off its initial losses and then extended its gains. He went 0.98 percent higher at 13.190.15 points from trading, while the mdax rose 0.94 percent to 27.861.67 points gained. Both had lost strength in the course of the day before and closed just in the red.
Investors are already focusing on the high-level annual meeting of central banks, which begins on thursday and is being held online for the first time because of the corona pandemic. According to experts, federal reserve chairman jerome powell was able to announce important changes in the fed’s catalog of goals. "In times of political uncertainties, economic risks and mixed recovery signals, further central banker protection will probably be of note," commented market analyst timo emden of emden research.
It is expected that the fed will no longer aim for a specific inflation rate in the future, but for an average value of. As a result, from today’s perspective, this will lead to an even longer period of extremely low U.S. Interest rates and possibly even more securities purchases by the fed – a prospect that investors are buying into again, said one trader.
The continued strong investor demand for technology stocks, pulled the shares of infineon at the top of the dax up by four percent. The corona crash in february and march has long been ticked off the chip company’s papers, now they reached their highest level in more than two years.
SAP shares – like the tech sector as a whole – were up 2.2 percent, benefiting from strong quarterly figures and a more optimistic outlook for the year from U.S. Competitor salesforce.
According to an optimistic study by the investment bank mainfirst, BMW advanced by 2.5 percent. Analyst daniel schwarz described the stock of the carmaker on wednesday as a defensive exception in an otherwise not exactly low-risk sector.
Aroundtown’s recent business performance and a bold outlook for the full year for the first time caused the property group’s share price to jump in the middle of the week, but only two percent of a nearly 9 percent peak gain remained in the end. The day before, stocks had lost more than five percent.
Real estate shares were generally in demand on wednesday. Shares in deutsche euroshop also contributed to this, jumping 6.3 percent on the sdax to break out of a week-long sideways movement and move upwards. At 13.26 euros at the top, they climbed to their highest level since the beginning of july.
Otherwise, sudzucker’s shares caused a stir with a sustained high. Already up almost three percent the day before following an optimistic vote from warburg research, a 7.2 percent jump in the share price has now catapulted it to its highest level since the beginning of 2018.
On the european stage, the eurostoxx rose 0.81 percent to 3356.76 points. The french cac rose at a similar pace, but the british FTSE 100 lagged behind with a narrow gain. In new york, the tech rally again drove the technology-heavy nasdaq 100 to record highs. The dow jones industrial, on the other hand, was just in the red there at the close of trading.
The euro last traded at 1.1813 U.S. Dollars. The european central bank (ECB) had temporarily set the reference rate at 1.1789 (tuesday: 1.1814) U.S. Dollars. The dollar thus cost 0.8483 (0.8465) euro.
On the bond market, the current yield rose from minus 0.49 to minus 0.43 percent. The rex bond index stagnated at 145.61 points, but the bund future fell by 0.24 percent to 175.69 payers.