The Dax embarked on a recovery course on Monday and more than made up for its losses on Friday. The leading index Dax rose in the early afternoon by 1.04 percent to 13,715.40 points.
It thus climbed to its previous daily high and continued the overall friendly first week of August. The MDax of medium-sized companies recently rose by 0.75 percent to 27,981.17 points. The Eurozone leading index EuroStoxx 50 even gained 1.20 percent.
In the past week, which was characterized by numerous quarterly reports, the German stock exchange barometer rose again to just under 13,800 points and had thus reached another high since mid-June.
Successes for energy suppliers
Among the individual values on the German market, the energy suppliers stood out on Monday, and they continued to perform well: Eon and RWE each rose by around two percent. Morgan Stanley, meanwhile, has become more bullish on Eon stock, upgrading it to equal-weight. The share has underperformed the industry since the beginning of the year, but the risks in the gas supply chain have decreased, analyst Robert Pulleyn justified his new judgment.
The analysis firm Jefferies meanwhile reiterated its buy recommendation for the RWE paper and further raised the price target. Most of the drivers behind the utility's recently raised 2022 operating profit guidance should continue to provide tailwinds in the coming year, wrote analyst Ahmed Farman.
The shares of Siemens Energy attracted attention from the MDax after detailed quarterly figures and statements for the entire fiscal year 2021/22. After significant losses at the start, they recently turned positive and increased moderately. Analysts unanimously praised the energy group's strong gas and electricity business and the maintained operating fiscal year targets.
The VW umbrella company Porsche SE also earned more in the first half of the year thanks to rising profits at Volkswagen and confirmed the annual forecast. The share rose by around one percent.
The financial platform operator Hypoport reported detailed figures that corresponded to those previously published from the SDax. In addition, despite the turnaround in interest rates, the annual targets were confirmed. The shares turned positive and recently rose by around five percent. Takkt fell by a little more than four percent. Analyst Catharina Claes from the private bank Berenberg canceled her buy recommendation for the papers of the office and restaurant outfitter. Although the figures for the second quarter came off relatively well, the risks are increasing.
On the bond market, the current yield rose from 0.68 percent on Friday to 0.76 percent. The Rex pension index fell by 0.36 percent to 136.62 points. The Bund future climbed 0.42 percent to 156.59 points. The euro hovered around the $1.02 mark. In the early afternoon, the shared currency was trading at $1.0196. The European Central Bank last set the reference rate at $1.0233 on Friday.
