Tech sector values surge on the back of the Federal Reserve's decision
In a lively turn of events on the European stock market today, technology stocks saw a surge in demand following the US Federal Reserve's interest rate decision. The Dax, Euro Stoxx 50, and SDax all experienced significant gains, with the German benchmark index climbing by 1.4% to 23,675 points.
One of the biggest winners in the Dax was SAP, followed closely by Infineon, both recording gains of over 5%. The spin-off of Continental's automotive supplier business, Aumovio, also made a strong debut, temporarily containing 41 titles instead of 40 to ensure its investability. Aumovio, which began as a separately listed company, was brought to the Frankfurt stock exchange via a pure spin-off on September 19, 2025. Investors received one Aumovio share for every two Continental shares held. The first share price of Aumovio was 35 euros.
Meanwhile, Continental shares took a dip, trading at 57.42 euros in the afternoon, after closing at 72.98 euros on Wednesday. This was due to the fact that Conti shareholders automatically received an additional Aumovio share for every two of their shares.
Siltronic, a chip industry supplier, gained more than 8% in the SDax, while Verve Group's software platform stock rose significantly. In the afternoon, the common currency was trading at 1.1789 dollars, down from its earlier fall below 1.18 dollars on Thursday on the foreign exchange market.
Elsewhere, the IPO of online ticket marketplace StubHub in the US was a disappointment, with the stock falling after achieving a billion-dollar valuation upon its listing on the NYSE.
In other notable developments, Zalando shares climbed to their highest level since late July, with its major shareholder, Anders Holch Povlsen, buying shares worth over 9.7 million euros in several transactions. Aixtron was the leader in the MDax.
Interestingly, the Fed's interest rate cut did not significantly weaken the dollar. The euro remained relatively stable, with the gold price falling significantly on Thursday, with the fine ounce traded at $3,637 on the London exchange, about $22 lower than the previous day, equivalent to €3,084 per ounce.
As the stock market continues to evolve, these developments are sure to have far-reaching implications for investors and businesses alike. Stay tuned for more updates as the market unfolds.
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