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SAW QB2 2014, englisch - Share

Share Markets Major stock indices in both the USA and Europe saw signi- ficant gains during the period under review. The market's high level of liquidity combined with ongoing low interest rates continued to make stocks an attractive investment. But growth wasn't as harmonious as the year before, and ­volatility played a larger role. Germany's technology index, the TecDAX, kicked off 2014 energetically at 1,166 points and went on to outperform Germany's DAX benchmark index in the first half of the year. The DAX, on the other hand, wasn't as spirited and opened year at 9,400 points. Both indices demonstrated an upward trend during the first half of the year and picked up speed in the second quarter. They reached record highs in trading on July 19 (TecDAX 1,337) and July 20 (DAX 10,050) of this year. The TecDAX closed out the first half of the year at 1,309 points, which marked a gain of 12 percent over the begin- ning of the year. The DAX finished the first six months at 9,833, reflecting nearly 5-percent growth. The Dow Jones also hit record highs in the first six months of 2014 ending the period with a cautious 1.5-percent gain at 16,826 points. ­Software AG Share ­Software AG's share began the 2014 fiscal year at €24.89. As a result of strong financial performance in the decisive fourth quarter, the share price achieved major gains fol­ lowing the release of the company’s results and positive analyst ratings. Until early March ­Software  AG's share ­performed very well with up to 17-percent growth. Not even the TecDAX or the DAX achieved that level of growth during the same period. Jan. 2, 2014 Mar. 28, 2014 June 30, 2014 Software AG DAX EURO STOXX NASDAQ TecDAX Dow Jones 120 110 100 9090 100 110 120 28.06.201427.06.201426.06.201425.06.201424.06.201423.06.201420.06.201419.06.201418.06.201417.06.201416.06.201413.06.201412.06.201411.06.201410.06.201409.06.201406.06.201405.06.201404.06.201403.06.201402.06.201430.05.201429.05.201428.05.201427.05.201426.05.201423.05.201422.05.201421.05.201420.05.201419.05.201416.05.201415.05.201414.05.201413.05.201412.05.201409.05.201408.05.201407.05.201406.05.201405.05.201402.05.201430.04.201429.04.201428.04.201425.04.201424.04.201423.04.201422.04.201417.04.201416.04.201415.04.201414.04.201411.04.201410.04.201409.04.201408.04.201407.04.201404.04.201403.04.201402.04.201401.04.201431.03.201428.03.201427.03.201426.03.201425.03.201424.03.201421.03.201420.03.201419.03.201418.03.201417.03.201414.03.201413.03.201412.03.201411.03.201410.03.201407.03.201406.03.201405.03.201404.03.201403.03.201428.02.201427.02.201426.02.201425.02.201424.02.201421.02.201420.02.201419.02.201418.02.201417.02.201414.02.201413.02.201412.02.201411.02.201410.02.201407.02.201406.02.201405.02.201404.02.201403.02.201431.01.201430.01.201429.01.201428.01.201427.01.201424.01.201423.01.201422.01.201421.01.201420.01.201417.01.201416.01.201415.01.201414.01.201413.01.201410.01.201409.01.201408.01.201407.01.201406.01.201403.01.201402.01.14 Share Price Development (indexed) Share 5 Interim Management Report Interim Financial Statements Notes to the Interim Financial Statements Additional Information