FRANKFURT (Dow Jones) — The stock exchanges in Europe started the new week with significant gains. The DAX gained 1 percent to 15,793 points, the Euro-Stoxx-50 even increased by 1.3 percent to 4,291. Starter surcharges on Wall Street had provided some momentum again in the afternoon. However, sales were very thin overall due to a public holiday in Great Britain.
The markets digested the statements from last Friday’s central bankers’ symposium in Jackson Hole well. Fed chair Powell said there was roughly a balance between hawkish and dovish passages. The analysts at Bank of America spoke of a “Rorschach test” that anyone could hear what they wanted from the statements.
US Federal Reserve President Jerome Powell had confirmed that he wanted to achieve the inflation target of 2 percent and signaled a cautious approach. At the same time, he welcomed the slower price increase, but also pointed to the resilient US economy.
The analysts at CMC were more positive. “Although the main protagonists have said nothing concrete or new, there is still room for speculation that at least the Fed could have completed its rate hike cycle.”
New inflation figures on Thursday
The publication of European consumer prices on Thursday could provide the next major fundamental impetus. Then important price data will also come from the USA with the price index for personal consumer spending. They are considered a price measure preferred by the US Federal Reserve.
Meanwhile, things are not looking good for the German economy, the Ifo export expectations fell further in August. “German exporters continue to struggle with weak global demand,” said Klaus Wohlrabe, head of the Ifo surveys. “In addition, more and more companies are complaining that their global competitiveness is suffering.”
Vonovia the only DAX loser
At the top of the DAX were Commerzbank (+2.5%) ahead of Deutsche Bank (+2.4%) and Zalando (+2.4%). In the end, Vonovia was the only one in the red (-0.1%). Here it was a burden that SPD members had once again campaigned for a nationwide freeze on rent increases for three years in the fight against rising rents at the weekend. TAG real estate became cheaper by 0.5 percent.
Corporate news was scarce. Bayer gained 0.7 percent. Investors Artisan Partners’ call for the company to be split up was described in the trade as “not new”. The fact that the US company Bluerock, which belongs to the Bayer Group, has achieved initial success in the development of a cell therapy for the treatment of the widespread Parkinson’s disease, did not provide any major price impetus.
Thyssenkrupp Nucera with numbers
The figures for the third quarter of the newcomer Thyssenkrupp Nucera did not cause any euphoria. However, the course of the hydrogen expert rose by 1.1 percent with the market. Incoming orders and sales increased significantly. In addition, Nucera expects further sales growth. Thyssenkrupp increased in price by 1 percent.
New data from a late-stage clinical study of the drug Leqvio supported Novartis (+0.8%). It is said to reduce cholesterol levels in patients with arteriosclerotic cardiovascular diseases. Leqvio is already approved in more than 80 countries. Analysts give the drug blockbuster potential.
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Index Closing Development Development Development
was absolute in % since
beginning of year*
Euro-Stoxx-50 4.293,69 +57,44 +1,4% +13,2%
Stoxx 50 3,956.11 +34.15 +0.9% +8.3%
Stoxx 600 455.41 +4.02 +0.9% +7.2%
XETRA-DAX 15.792,61 +160,79 +1,0% +13,4%
FTSE-100 London 0,00 0,00 0,0% -1,5%
CAC-40 Paris 7,324.71 +95.11 +1.3% +13.1%
AEX Amsterdam 741.76 +8.39 +1.1% +7.7%
ATHEX-20 Athen 3.192,37 +43,20 +1,4% +41,8%
BEL-20 Bruessel 3.653,47 +31,05 +0,9% -1,3%
BUX Budapest 56,787.05 -125.38 -0.2% +29.7%
OMXH-25 Helsinki 4,294.21 +61.97 +1.5% -12.3%
ISE NAT. 30 Istanbul 8,536.75 +271.28 +3.3% +43.6%
OMXC-20 Kopenhagen 2.185,20 +25,11 +1,2% +19,1%
PSI 20 Lisbon 6,121.19 +31.72 +0.5% +7.5%
IBEX-35 Madrid 9,490.10 +151.20 +1.6% +15.3%
FTSE-MIB Milan 28,544.56 +336.11 +1.2% +19.0%
OBX Oslo 1,153.47 +15.00 +1.3% +5.8%
PX Prag 1.350,59 -0,20 -0,0% +12,4%
OMXS-30 Stockholm 2,174.31 +25.84 +1.2% +6.4%
WIG-20 Warsaw 2,039.32 +38.90 +1.9% +13.8%
ATX Vienna 3,127.47 +28.56 +0.9% +0.3%
SMI Zurich 11,032.76 +75.86 +0.7% +2.8%
Fixed income market last absolute +/- YTD
German ten-year return 2.58 +0.02 +0.01
US 10-year yield 4.22 -0.01 +0.34
FOREX last +/- % Mon, 8:16 Fri, 17:28 % YTD
EUR/USD 1,0808 +0,1% 1,0816 1,0787 +1,0%
EUR/JPY 158.25 +0.1% 158.32 157.75 +12.8%
EUR/CHF 0.9547 +0.0% 0.9549 0.9548 -3.5%
EUR/GBP 0,8584 +0,0% 0,8581 0,8578 -3,0%
USD/JPY 146,43 -0,0% 146,37 146,26 +11,7%
GBP/USD 1,2592 +0,1% 1,2606 1,2575 +4,1%
USD/CNH (Offshore) 7,2921 +0,1% 7,2916 7,2958 +5,3%
Bitcoin
BTC/USD 26.108,91 +0,2% 25.953,35 25.952,34 +57,3%
ROHOEL last VT-Settlem. +/- % +/- USD % YTD
WTI/Nymex 80,04 79,83 +0,3% +0,21 +2,2%
Brent/ICE 84,59 84,48 +0,1% +0,11 +2,3%
GAS VT-Settlem. +/- EUR
Dutch TTF 37,57 34,78 +8,0% +2,79 -57,0%
METALS last day before +/- % +/- USD % YTD
Gold (Spot) 1.924,70 1.915,35 +0,5% +9,35 +5,5%
Silver (Spot) 24.34 24.23 +0.4% +0.10 +1.5%
Platinum (Spot) 971.40 947.45 +2.5% +23.95 -9.0%
Kupfer-Future 3,78 3,77 +0,1% +0,00 -1,2%
YTD relative to previous day’s close
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(END) Dow Jones Newswires
August 28, 2023 12:16 ET (16:16 GMT)
2023-08-28 16:15:41
#MARKETS #EUROPEFest #Jackson #Hole #inspires #confidence
