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Wednesday, June 29, 2022

Stock exchange in Frankfurt: Dax oscillates around 13,000 points

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The Dax lost ground again on Thursday and most recently hovered around the 13,000 point mark. Around noon, the leading German index was down 1.04 percent at 13,007.70 points, after temporarily falling to its lowest level since March at just under 12,940 points.

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The Dax lost ground again on Thursday and most recently hovered around the 13,000 point mark. Around noon, the leading German index was down 1.04 percent at 13,007.70 points, after temporarily falling to its lowest level since March at just under 12,940 points.

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The MDax for medium-sized stocks recently fell by 2.26 percent to 26,630.48 points. The Eurozone leading index EuroStoxx 50 lost 0.79 percent.

Investors are nervous as signs of a recession mount. Statements by the head of the US Federal Reserve Bank, Jerome Powell, on the previous day had a negative impact, as did the increasingly gloomy corporate sentiment in the euro area.

In his speech to the US Senate Banking Committee, Powell described the US economy as “very strong”. Rising interest rates could therefore be put away. However, when asked, he admitted that a recession due to higher interest rates could not be ruled out.

With a view to the individual values ​​on the German market, the shares of Deutsche Bank in the Dax fell by 4.5 percent. In the MDax, Commerzbank lost almost 6 percent. There are concerns that, in the event of a recession, loans may default.

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Source: Stern

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