Sharp surge in DAX: Attention turns to Continental, SAP, and Zalando
In the world of finance, Thursday saw a series of significant movements across various stock markets.
The German stock market, as represented by the DAX (WKN: 846900), recorded a 1.3% increase, closing at 23,670.96 points. Notably, the DAX was re-calculated at the end of trading on Thursday, with the index comprising 41 titles, following the spin-off of Aumovio from Continental. Aumovio, which was not part of the DAX prior to the re-calculation, saw its shares rise from 35 euros to 38.62 euros.
Continental's share price, however, experienced a 22% decline on Thursday. Interestingly, after adjustment due to the Aumovio spin-off, the decline would have been a plus, indicating a positive impact on the company's overall financial standing.
Another top performer in the DAX was SAP (WKN: 879535), which saw gains of more than five percent, making it the second-highest gainer in the index after Zalando. The Danish entrepreneur Anders Holch Povlsen, Zalando's largest individual shareholder and a member of its supervisory board, acquired Zalando shares worth around 9.7 million euros on the previous Friday. This move led to a surge in Zalando's share price, making it the top performer in the DAX for the day and briefly leading the index ahead of SAP.
Elsewhere in the German market, the MDAX (WKN: 996250) gained 0.8%, closing at 30,464.32 points. Notable gains in the MDAX included Aumovio, Siltronic, and Aixtron, which jumped eight percent, eight percent, and nine percent, respectively.
In the tech sector, Nvidia's entry sparked new excitement, contributing to SAP's rise.
Across the Atlantic, the U.S. Federal Reserve (Fed) cut the key interest rate by 0.25 percentage points on Thursday. The Fed also announced further steps for the coming years.
However, not all sectors fared well. Krones was the weakest value in the MDAX, with a minus of 5.4% on Thursday. Analysts were cautious after recent takeover speculation for an unspecified company, which may have put pressure on Krones. Puma also experienced a 3.9% decline.
In the tech-heavy TecDAX (WKN: 846917), there was a 2.3% increase, closing at 3,655.10 points.
The EuroStoxx 50 (WKN: 846905) showed a plus of 1.6% to 5,456.67 points on Thursday.
These movements reflect the dynamic nature of global stock markets, with a multitude of factors influencing their performance on a daily basis.
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