Frankfurt On Thursday, the German stock market got a good start to the day. Half an hour after the start of trading, the Dax is up 0.2 percent at 15,500 points. Price gains of more than one percent at Munich Re, Covestro and Heidelberg Cement play a role here.
These and other increases also mask the sharp loss in BASF shares of almost five percent. The chemical company announced early in the morning that it was ending its share buyback program early. In addition, after a significant drop in earnings last year and the high burden of the energy crisis, the company is cutting 2,600 jobs worldwide – a large part of which is in Germany. For the current year, BASF is preparing for a further decline in earnings.
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