US stock markets weigh on: DAX in the red – Thyssen takes off
The weakness of Wall Street is also noticeable in the DAX. The German leading index closed today with a slight loss of 0.07 percent and closed at 22,410.27 points. The MDAX, on the other hand, once again performed better than the DAX and gained 0.60 percent to 28,086.48 points.
The medium-sized companies in the MDAX are more dependent on Germany's economy and have therefore suffered more from Germany's economic downturn in the past than the globally positioned companies in the DAX. With the hope of an economic upturn in this country following the CDU/CSU's election victory, MDAX shares are now catching up.
The focus in Germany is on the exploratory talks on forming a government. "The challenges facing the economy are huge. In order to overcome them, the new federal government and companies must now act together and decisively," demands the German Chamber of Industry and Commerce (DIHK). A rapid change in the ability to take on debt would certainly be welcomed on the market, said the Metzler bank. However, CDU chairman Friedrich Merz rejected a reform of the debt brake before the newly elected Bundestag met.
In the defense sector, expectations of significantly increasing defense spending in Germany and the EU once again boosted stocks. Rheinmetall initially climbed close to the 1,000 euro mark in the DAX, but then fell back and ended up only just in the black. Other German defense stocks such as Hensoldt in the MDAX and Renk in the SDAX again rose significantly.
Positive analyst comments caused Thyssenkrupp to rise by almost 10 percent. In the current year, the steel and industrial group's shares have now recovered by around 77 percent to their highest level since the end of 2023. Cash, price drivers, options - Thyssenkrupp has all of these in abundance, and the only decisive factor for success is implementation, wrote Citigroup analyst Ephrem Ravi. The spin-off of the marine division and the further reduction of the steel business could release enormous values. The marine division alone could cover the current market capitalization of the entire group.
Profit-taking after business figures and the recent record rally only had a brief impact on Heidelberg Materials. In the afternoon, the building materials manufacturer's shares rose sharply and closed 3.6 percent higher. According to Barclays analyst Tom Zhang, the targets for 2025 give management room for positive surprises and increases. Heidelberg Materials is seen as a beneficiary of the reconstruction of Ukraine. The company also wants to continue to grow in North America.
Shares in the dialysis company Fresenius Medical Care (FMC) lost 0.9 percent after annual figures and outlook. Siemens Energy broke through the 50-day line for the medium-term downward trend and ultimately lost 7.3 percent as the DAX's tail-ender.
Contains material from dpa-AFX
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