US, WASHINGTON (ORDO NEWS) — At the end of the quarter shaped by the Corona crisis, the German stock market continued its previous day’s recovery. The Dax surpassed the 10,000 point mark in early trading and recently stood 2.69 percent higher at 10,079.89 points.
For the first quarter, however, this still indicates a major loss of around 24 percent for the leading index.
The MDax of medium-sized stocks gained 2.75 percent on Tuesday to 21,219.25 points. The EuroStoxx 50 as the leading index of the euro zone rose by around 2.1 percent.
Positive trends came from the strong US stock exchanges on the previous evening: the Dow Jones Industrial closed more than 3 percent on Monday, the technology-heavy Nasdaq 100 even advanced by almost 4 percent. Above all, however, traders supported unexpectedly robust economic data from China. The mood in China’s industry brightened again significantly after a record breakdown due to the corona virus in March and was clearly better than experts had expected.
However, the British bank HSBC was skeptical: Investors should not feel too safe in view of the calming down after the corona crash.
Investors reacted positively to the news on Tuesday that Bayer had reached a settlement with US class plaintiffs in a lawsuit over an allegedly misleading marketing of weed killers with the controversial active ingredient glyphosate. Bayer is paying the plaintiffs just under $ 40 million. The price rose by 4.2 percent.
Thanks to an optimistic outlook, Hellofresh shares rose by 14 percent. Previously, they had set another record high with 32.10 euros. The cookbox supplier cemented its reputation as the winner of the corona crisis. In the first quarter, both sales and operating profit should be above market expectations, the MDax company said.
Varta’s shares rose by around 2 percent. The battery manufacturer’s outlook is cautious, a dealer said. However, Varta is known for surpassing the goals set during the year.
The construction software provider Nemetschek is cautious but confident in the new financial year in view of the coronavirus pandemic. Sales should at least develop steadily. The Nemetschek titles advanced by around 6 percent.
The prices of Ado Properties and Adler Real Estate, which are aiming to merge, rose strongly. At the top of the SDax, Adler Real Estate soared by around 11 percent. Ado Properties won 7 percent. Adler Real Estate was confident about the impact of the Corona crisis on rental income. Together with Ado Properties, the group has over 500 million euros in liquid funds.
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