The expected tightening of sanctions against Russia and new signals for a quick tightening of US monetary policy cost the Dax points on Tuesday.
The expected tightening of sanctions against Russia and new signals for a quick tightening of US monetary policy cost the Dax points on Tuesday.
The leading German index lost 0.65 percent to 14,424.36 points. The MDax did better for medium-sized companies with a plus of 0.03 percent to 31,553.88 points.
Following Bucha’s war crimes in Ukraine, the EU Commission proposed a package of new sanctions against Russia, including a ban on coal imports from Russia.
Statements by the deputy chairman of the US Federal Reserve, Lael Brainard, on monetary policy proved to be a burden on the stock market. According to a previously distributed speech, the latter said that the Fed would reduce its total assets at a rapid rate from May. Tight monetary policy can be detrimental to stock markets as other asset classes become more attractive.
The shares of the engine manufacturer MTU lost 5.2 percent at the end of the Dax. Some caution can be gleaned from the outlook from Barclays and Bank of America for MTU’s quarterly results due at the end of April. A report by the Bloomberg news agency about a share placement with Airbus caused the aircraft manufacturer’s shares to fall by 4.4 percent.
The car rental company Sixt announced preliminary figures for the first quarter of the business year from the MDax, which were well received by the market: the tribes climbed 5.2 percent at the top of the index.
Wind power stocks were also among investors’ favourites. Nordex shares gained a good seven percent. Analysts were positive about the prospects for the industry. The online drug retailer Shop Apotheke presented key figures for the first quarter and confirmed its forecast for the year. At times with double-digit percentage growth, in the end there was still an increase of 3.4 percent.
The Eurozone leading index EuroStoxx 50 slipped by 0.84 percent to 3917.85 points. France was down a bit more, while the UK saw gains. In New York, the leading index Dow Jones Industrial was slightly in the red at the end of European trading.
After the Xetra close, the euro cost 1.0924 US dollars. The European Central Bank (ECB) set the reference rate at $1.0969 (Monday: $1.1005) in the afternoon. The dollar thus cost 0.9117 (0.9087) euros. On the bond market, the current yield rose from 0.41 percent on the previous day to 0.45 percent. The Rex pension index fell by 0.28 percent to 138.30 points. The Bund future fell significantly, most recently by 0.93 percent to 157.80 points.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
