Concerns about the economy have brought losses to the Dax. With the gas crisis in Europe, the threat of corona lockdowns in China and supply chain problems, there are plenty of stressors. The ZEW economic expectations were also clearly disappointing.
Concerns about the economy have brought losses to the Dax. With the gas crisis in Europe, the threat of corona lockdowns in China and supply chain problems, there are plenty of stressors. The ZEW economic expectations were also clearly disappointing.
Around noon, the Dax was down 0.9 percent at 12,717.32 points. The MDax of the medium-sized stock exchange companies lost 1.01 percent to 25,436.62 points and the Eurozone leading index EuroStoxx 50 fell by 0.77 percent to 3444.81 points.
In July, the economic expectations of German financial experts deteriorated even more drastically than analysts had feared. This is confirmed by the mood barometer of the Mannheim research institute ZEW. Now the focus is on the US inflation data, which is expected on Wednesday.
In the Dax, BASF shares, which were already weak the day before, lost only 0.6 percent according to quarterly figures. Thanks to price increases and the weak euro, the chemical company performed better than expected and confirmed its annual targets.
The recently shaken Uniper shareholders had to cope with further price drops in the MDax: The shares of the gas supplier fell by almost three percent and at times remained slightly above the record low of the previous day, to which they had fallen in view of the feared gas stop from Russia.
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.
