The Euro-Stoxx-50 was 0.9 percent higher at 5,820.98 points at midday. In Frankfurt, the DAX improved by 0.83 percent to 23,929.02 units. The Swiss SMI, on the other hand, fell by 0.42 percent to 12,908.26 points due to the losses of some defensive heavyweights. The British FTSE 100 gained 0.33 percent to 10,438.06 points.
Attention now turns to the US Federal Reserve meeting in the evening. “The central question for the nervous bond markets is now whether the US monetary authorities will stick to their fundamental prospect of cutting interest rates in the current year,” said the Landesbank Baden-Württemberg. “If central bankers signal that they prefer a longer period of unchanged key interest rates, we believe this will put additional pressure on the US bond market.”
Sectors that came under pressure with the start of the war against Iran posted gains. Banks, industrial and building materials stocks as well as the travel sector experienced disproportionate growth. At the bottom of the field, however, were the defensive sectors, which had held up relatively well recently. Losers included the food sector, telecommunications and pharmaceutical stocks as well as utilities.
In the technology sector, ASML stood out with a 1.5 percent premium. Samsung had commented favorably on the future prospects for semiconductors thanks to demand in the field of artificial intelligence. Logitech, on the other hand, recorded losses of over five percent after UBS downgraded it to “neutral”. The bank only assumes there is little upside potential.
The oil sector remained positive despite the fall in oil prices. “According to analysts, even if there is a relaxation in the Strait of Hormuz, an increased risk premium on the oil markets is likely to remain for the time being,” noted investment strategist Ulrich Stephan from Deutsche Bank.
