DAX & Co: DAX scratches at 13,300 points, Wacker Chemie and Porsche asked, Fresenius punished.

DAX & Co: DAX scratches at 13,300 points, Wacker Chemie and Porsche asked, Fresenius punished.


On Thursday, German indices were largely disappointed by the second quarter and the slowdown in the US economy. Instead, the presented quarterly figures determined the course. While Uniper managed to grow despite the delayed presentation of figures, Fresenius fell after the forecast was cut.

After a volatile day, in which Germany’s leading index fell to 13,094 points, the DAX closed 0.9 percent higher at 13,288 points after a rally shortly before the close of business on Thursday.

After the last six trading days for Porsche shares were characterized by losses, the shares rose almost four percent on Thursday and were the biggest winners in the DAX. Deutsche Bank shares also gained nearly four percent after the institution delivered better-than-expected quarterly figures on Wednesday (DER AKTIONÄR reported).

The red light in Germany’s leading index went to Fresenius Medical Services on Thursday with a drop of more than 14 percent, followed by Fresenius’ parent company, which lost nearly nine percent. Both companies’ sharply reduced forecasts for the full year 2022 spooked investors (DER AKTIONÄR reported).

The last push on the MDAX was not very strong. The mid-cap index ended up 1.2 percent, but at 26,809 points it remained below the daily high of 26,892 points.

The biggest loser was Software AG, which closed the market nearly seven percent lighter. According to the quarterly figures, the profit, which was 47 percent behind the results of the previous year, was worse. Also, the reduced annual forecast for orders in the key digitization category was not well received.

In contrast, papers from Wacker Chemie were in demand, posting the biggest daily gain in the MDAX with an increase of 10.5 percent. Above all, booming business for the solar energy and polysilicon chip industries gave the Bavarian company a big profit in the second quarter of the year.

At Uniper, sometimes double-digit price gains were erased after the group postponed the presentation of results for the second quarter (more on this in the list of articles below). However, the stock closed eight percent higher.

This was also important on Thursday:

Conflict of Interest Notice:
CEO and majority owner of publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related items benefiting from the price promotion resulting from the publication: Porsche.