The German stock market started trading on Tuesday with moderate gains. In the first few minutes of trading, the Dax was up 0.27 percent at 15,832.43 points, initially remaining below the 16,000 mark. The season of quarterly reports is gradually picking up speed, and investors are likely to be cautious about the figures from large corporations from Europe and the USA. In China, good economic data also failed to give the stock markets a stronger upward impulse. The Chinese economy accelerated its growth surprisingly strongly in the first quarter after the end of the strict corona policy. "Whether the recovery in the second half of the year will be sustainable, however, depends on the improvement in confidence in the private sector," said Commerzbank economist Tommy Wu. The M-Dax of medium-sized stocks rose by 0.70 percent to 28,033.14 points on Tuesday morning, which is stronger than the Dax. The Eurozone benchmark index Euro Stoxx 50 rose by 0.3 percent.
Landesbank Helaba is optimistic about the stock markets. "As long as there are no surprisingly bad economic figures, interest rate concerns are limited and the quarterly results suggest that companies and especially large US banks have survived the crisis well in March, the friendly mood is unlikely to change," it said in a market commentary. The Dax could therefore test the 16,000 point mark.
Among the individual stocks, the shares of MTU Aero Engines rose by up to four percent to the top of the Dax. The Munich-based engine manufacturer significantly increased sales and profits in the first quarter and exceeded analysts' expectations. Brenntag's shares gained about half a percent. Here, an activist investor is once again putting pressure on the chemicals trader's strategy. Investors also seized on Drägerwerk and drove the shares listed in the small-cap index S-Dax up by five percent. It benefited from a significant increase in demand for ventilators in China. The medical technology manufacturer is back in the black thanks to easing supply problems. "Two consecutive quarters of profits mean a lot to this company after quarters of losses," one trader said. Südzucker topped the small-cap index S-Dax with a plus of 6.2 percent. The sugar producer earned more than expected in the 2022/23 financial year, is significantly increasing its dividend and raising its forecast for the current financial year.