Stock market in recovery mode: Dax rises to more than 13,000 points

At the start of the week, the German stock market followed on from its Friday rally and once again increased noticeably.

Investors should not overestimate the recent recovery of the stock markets on both sides of the Atlantic, warned expert Timo Emden from Emden Research.

Because in addition to the smoldering recession worries, the energy crisis in this country threatens further adversity.

The Dax passed the 13,000 point mark in early trading and most recently gained 1.09 percent to 13,004.64 points after rising a whopping 2.8 percent on Friday.

The M-Dax of medium-sized stock exchange companies rose by 1.44 percent to 25,924.76 points on Monday.

The leading eurozone index, the Euro Stoxx 50, rose by around 1.1 percent.

Specifications from America

Unexpectedly robust US retail sales and lower medium-term inflation expectations in the University of Michigan survey have revived investors' willingness to take risks, according to Commerzbank.

The expectations of the interest rate hike by the US Federal Reserve at the end of July have recently softened: the probability of an increase by one percentage point has clearly fallen, but the firm expectation is 0.75 percent.

On Thursday this week, however, the focus will first be on the further monetary policy of the Europeans.

The ECB is expected to turn around in monetary policy and raise the key interest rate.

Covestro grow

According to an interview with CFO Thomas Toepfer, the shares of Covestro are the focus of individual stocks with a price increase of 3.1 percent.

Thanks to the rapid recovery in China after the lockdown, the operating result (Ebitda) in the second quarter will be at the upper end of the forecast range of 430 to 560 million euros, he told the "Boersen-Zeitung".

In a first reaction in the morning, a trader pointed out that the previous consensus estimate was a good 500 million euros and rated the statements accordingly positively.

However, many experts are anticipating quite solid figures for the chemical industry overall in the second quarter.

The outlook for the rest of the year is becoming more important in view of an impending gas shortage and a possible weakening of consumption as a result of high inflation.

Alstria Office stocks rose 3.8 percent.

The office real estate company secured a loan of 500 million euros.

All of the proceeds are to be used to pay a special dividend to the shareholders, subject to a corresponding resolution being passed by the Annual General Meeting.

Some analyst studies also caused movement.

The BASF papers gained 3.6 percent at the top of the Dax.

Bank of America had previously upgraded the chemical company's shares from "underperform" to "buy".

In contrast, the Bechtle shares, which brought up the rear in the M-Dax, fell by 1.0 percent after UBS downgraded them from "buy" to "neutral" and lowered the price target from 64 to 40 euros.