FRANKFURT (dpa-AFX) - Shares in Jenoptik, which had already soared to a record high the previous day, extended their gains on Wednesday. Rising nearly eleven percent, the stock reached a peak of 43.34 euros. Traders noted that follow-through buying is now underway following the surprisingly strong quarterly figures released yesterday.
The optoelectronics group's order intake was impressive, wrote analyst Lasse Stueben of Berenberg Bank. It exceeded consensus estimates by 30 percent, representing a year-on-year increase of nearly three-quarters. In the semiconductor segment, order intake skyrocketed by 163 percent, although this was driven by a single major contract.
On the previous day, the shares had opened Xetra trading with a gap of 2.90 euros, or eight percent. At their peak, the price had surged by as much as 15.6 percent to nearly 42 euros, surpassing the previous record high set in mid-2018. Investors subsequently locked in profits, but these lower price levels were used by market participants as an entry point again on Wednesday.
The semiconductor boom continued to propel other stocks in the sector higher midweek. In the Dax, Infineon was among the top performers with a gain of nearly 6 percent. Aixtron, which sits alongside Jenoptik in the MDax, gained over 7 percent. In the SDax, Suss Microtec recorded gains of over 5 percent./bek/ajx
