The positive movement continues on the German stock market: after its strong start to the week, the Dax Index rose on Tuesday in the first hour of trading above the 11,500 mark. The leading index in the chart closed the large gap that it had widened in the course of the corona crash in early March due to the worst daily loss since September 9, 2001.
The MDax Index (the medium-sized German stocks) advanced by 1.51 percent to 25,464.07 points. The EuroStoxx 50 the leading index of the euro zone also gained 0.6 percent.
For the moment, geopolitical tensions have remained in the background, and investors are instead focused entirely on progress in the fight against the corona virus, commented analyst Milan Cutkovic from the AxiTrader trading company. “More and more countries are on the way back to normality and the prospects for an early vaccine have improved.”
Hopeful news about coronavirus control came from the United States, where there was no action the previous day due to the holiday. The vaccine manufacturer Novavax is now starting clinical tests with its drug candidate against the virus-induced disease Covid-19. First results are expected in July.
“Investors are currently surfing a wave of euphoria,” said portfolio manager Thomas Altmann from QC Partners. “Nobody at the stock exchange currently thinks that this wave could be over quickly.”
The sustained recovery rally in the Dax could be reduced by Wirecard not connect on Tuesday because the payment processor postponed its balance sheet report again. Wirecard lost a 1.38 percent at the end of the Dax.
Lufthansa in contrast, the best Dax value continued its climb from the previous day with an increase of more than 6 percent. As a result, the bottom of the share continues to take shape. With the bailout package for the airline, there were no more nasty surprises, the analysts from the Metzler bank wrote. However, they continue to advise the sale.
The papers of the airport operator Fraport were also in the MDax on a recovery course with growth of almost seven percent, while the number of passengers at Frankfurt Airport, which was hit by the corona crisis, only moved minimally out of the basement last week.
At the bottom of the MDax were Carl Zeiss Meditec ( ETR: AFX) with a minus of 1.5 percent. The corona crisis put a considerable strain on the medical technician’s business.
After a buy recommendation deleted from Berenberg Bank, the SDax index for small caps also slipped the shares of the internet dealer Zooplus in the last place with minus two percent. The papers of the wind and solar park operator Encavis won in the front SDax field almost three percent.