Frankfurt / Main (dpa) – The Dax rebounded in the afternoon regardless of the still uncertain electoral result in the US Stock traders feared precisely this stagnant gambling scenario with a dragged electoral result because it would tend to increase uncertainty in the market.
But the Dax shook off its initial losses on Wednesday and recently gained 1.12 percent to 12,223.89 points. For the median MDax, it looked even better with a 1.83 percent lead to 27,058.31 points. The EuroStoxx 50 as the leading barometer of the euro zone gained one percent. However, market participants expect equity markets to fluctuate more strongly if the political situation in the US remains unclear for now.
Meanwhile, the reporting season in Germany continued with figures from Dax Vonovia and BMW. In Vonovia’s real estate group, brokers praised both the quarterly numbers and the outlook for 2021, which is even better than already optimistic expectations. Newspapers earned more than three percent. The BMW figures were also well received by analysts, after initial losses, the papers were also included in the Dax on the afternoon rise with a plus of 1.3 percent.
Overall, defensive stocks and those that benefited from the corona pandemic showed strength. Dialysis provider Fresenius Medical Care (FMC) papers gained six percent and food delivery service Delivery Hero three percent as top values on the Dax. On the MDax, online fashion retailer Zalando, which is considered a winner from the crisis, rose to a record high in numbers, most recently increasing by nearly three and a half percent.
The euro was priced at $ 1.1717 in the afternoon. The European Central Bank (ECB) set the benchmark rate at $ 1.1702 on Tuesday. In the bond market, the current yield fell from minus 0.63 percent the day before to minus 0.65 percent. The Rex bond index rose 0.11 percent to 146.69 points. The future of the Bund rose 0.11 percent to 176.23 points.