The German stock market went into reverse in the middle of the week. To justify this, traders referred to negative guidelines from the US stock exchanges from the previous evening, ongoing economic worries and the wait-and-see attitude of many investors before the ECB meeting.
The German stock market went into reverse in the middle of the week. To justify this, traders referred to negative guidelines from the US stock exchanges from the previous evening, ongoing economic worries and the wait-and-see attitude of many investors before the ECB meeting.
In early trading, the Dax traded 1.29 percent lower at 15,638.01 points, dropping to its lowest level in around three weeks. The MDax of the 60 medium-sized stock market stocks lost 0.71 percent to 36,000.02 points. The EuroStoxx 50 fell by 1.2 percent.
Helaba expert Ulrich Wortberg assumes that market participants will exercise a little restraint before the ECB council meeting: “Concerns that the ECB could massively reduce the pace of asset purchases as part of the pandemic program do not seem to be very pronounced.”
Airbus shares lost 0.9 percent. The aircraft manufacturer only delivered 40 aircraft in August, compared with 47 jets in the previous month. However, with 102 new orders in August, Airbus brought in more orders than in any previous month of the year.
The Nordex papers quickly gave up their initial profit of up to 1.3 percent and followed the market as a whole, down 2.2 percent. The wind turbine manufacturer landed twelve new orders on its home market in the summer months. The company will supply systems with a total volume of over 123 megawatts in Schleswig-Holstein, Lower Saxony, Brandenburg and North Rhine-Westphalia for various customers, it said.
The shares of Siemens Energy fell by 5.4 percent and were clearly at the bottom of the Dax. They have meanwhile given up more than half of the recovery since the eight-month low in mid-July.
The titles of the broadcasting mast operator Vantage Towers, which will soon be represented in the MDax, plummeted by 3.8 percent and thus fell below the 50-day line that is considered to be a medium-term trend indicator.
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.
