The Dax weakened a bit on Wednesday after three days of recovery in a row. Mixed, unusual Ifo data on economic sentiment in Germany were not exactly beneficial.
The Dax weakened a bit on Wednesday after three days of recovery in a row. Mixed, unusual Ifo data on economic sentiment in Germany were not exactly beneficial.
After initially moderate gains, the leading index slipped slightly into the red and finally fell by 0.28 percent to 15,860.66 points. This means that the stock market barometer remains in close contact with the record high of mid-August at 16,030 points. The MDax, the index of medium-sized stocks, had meanwhile climbed again to a high in the course of trading and closed 0.07 percent in the red at 36,115.59 points.
There were also concerns about a possible fourth corona wave and also about supply chain problems, wrote analyst Ralf Umlauf from Landesbank Helaba. There were already signs of a deterioration in the mood among companies.
Experts from the Landesbank Baden-Württemberg commented similarly. They expect the German economy to be able to accelerate its growth rate in the summer. Persistent supply bottlenecks in the industry and concerns about new corona restrictions in autumn, however, led to increased uncertainty and caution with a view to the final quarter.
In the Dax, the shares of the sporting goods manufacturer Adidas with plus 0.6 percent and Puma, which rose by 1.0 percent, were in demand. Deutsche Bank had previously changed its assessment of the two values and is now recommending them as a buy.
At the end of the DAX, the shares of the medical group and hospital operator Fresenius SE as well as the papers of the dialysis subsidiary Fresenius Medical Care increased their previous day’s losses significantly and fell by 2.0 and 1.7 percent respectively.
Aroundtown’s shares fell by more than six percent after the half-yearly figures were presented, making them the clear bottom in the MDax. The commercial real estate specialist continued to feel the consequences of the corona pandemic.
The leading Eurozone index EuroStoxx 50 barely moved with a plus of 0.07 percent to 4181.12 points. The London FTSE 100 and the Paris Cac 40 both grew moderately. On Wall Street, the Dow Jones Industrial was trading 0.3 percent up in Europe at the close of the stock exchange.
The euro fell. The European Central Bank set the reference rate at 1.1736 (Tuesday: 1.1740) US dollars. The dollar cost 0.8521 (0.8518) euros.
On the bond market, the current yield rose from minus 0.53 percent the previous day to minus 0.51 percent. The Rex bond index fell 0.13 percent to 146.11 points. The Bund future fell by 0.43 percent to 175.99 points.
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.
