At the start of August, the German stock market continued on its recovery course from July. Investors rely on solid quarterly reports from companies, explained market expert Andreas Lipkow from Comdirect Bank.
In addition, they built on the fact that the macroeconomic data situation is cooling off somewhat. This would relieve the central banks of the pressure to raise interest rates further and the stock markets would have more upside potential again.
In the course of trading, the Dax rose to its highest level since mid-June and was last listed 0.42 percent higher at 13,540.71 points. On Friday, the leading index closed with a plus of one and a half percent and ended July with a gain of around 5.5 percent. This was the strongest July rise in six years, although June had also fallen sharply.
The MDax of medium-sized companies increased by 0.51 percent on Monday afternoon to 27,504.13 points. The Eurozone leading index EuroStoxx 50 gained around 0.4 percent.
Among the individual stocks, Varta shares were the focus of investors after a profit warning. The ongoing pressure on the operating business caused the battery manufacturer's once celebrated papers to fall as the MDax taillight by 5.0 percent after falling 13.5 percent in early trading. They halted their recent recovery and resumed their month-long downtrend. Varta had lowered its targets for the year due to the gloomier economic outlook and high raw material, energy and transport costs.
A buy recommendation from the British bank HSBC at the top of the MDax helped the Rheinmetall shares to rise by 5.7 percent. Risks for the car division had made Rheinmetall look a little more cautious about sales development in the past week. The driver is still the armaments business in view of the turning point proclaimed by the federal government after Russia's invasion of Ukraine.
Strong business in America and Asia makes the automotive and industrial supplier Stabilus more optimistic for the current fiscal year. The share certificates rose by 3.1 percent.
The prospect of further share purchases by the major investor EQT drove Suse shares up 4.3 percent. The Swedish investor group EQT plans to buy Suse shares for up to 100 million euros from August 8th. So far, EQT already holds more than three quarters of the Suse shares. The software company's papers had fallen sharply in recent weeks and fell to a record low on Wednesday.
The drug manufacturer Dermapharm wants to take over the French market leader for herbal medicines and dietary supplements. The company announced at the weekend that it had submitted an offer to acquire 100 percent of the shares in Apharma Topco, the holding company of the Arkopharma Group. The Dermapharm titles gained 3.7 percent.
Takkt's shares continued to fall sharply, down 8 percent. Before the weekend they had already lost more than 12 percent - burdened by two negative analyst comments. On Monday in the early afternoon, the downward trend intensified again, falling to its lowest level since the beginning of March 2021. This means that the office furniture mail order company was again the weakest value in the SDax small-cap index.
The euro last cost 1.0234 US dollars. The European Central Bank (ECB) set the reference rate at $1.0198 on Friday.
On the bond market, the current yield on German government bonds fell from 0.77 percent on Friday to 0.72 percent. The Rex pension index rose by 0.27 percent to 137.51 points. The Bund future fell by 0.03 percent to 157.53 points.