The Dax is heading for the fifth day of losses in a row on Monday. Investors continued to reduce their risk ahead of the Federal Reserve’s interest rate decision on Wednesday.
The Dax is heading for the fifth day of losses in a row on Monday. Investors continued to reduce their risk ahead of the Federal Reserve’s interest rate decision on Wednesday.
The leading German index lost 0.93 percent to 12,622.37 points at lunchtime. While the MDax fell somewhat more gently by 0.55 percent to 23,812.00 points, the leading eurozone index EuroStoxx 50 fell by 1.3 percent.
On the company side, all eyes were on the VW group because of news about the IPO of Porsche AG, which is now announced for September 29th. The papers of the group holding company Porsche SE reacted with an increase of 2.1 percent. The VW advantages had slipped into the red by one percent.
With minus 7.6 percent, the shares of Sixt were a conspicuously big loser in the Dax index family. An analyst downgrade to “underperform” by the French investment bank Exane BNP was blamed for this.
The shares of 1&1 and the parent company United Internet were also under pressure by up to 2.7 percent. They suffered from the sluggish expansion of their own mobile network. According to a 1&1 announcement on Friday evening, delivery problems at the most important expansion partner are slowing down the process. The interim goal of 1000 5G antenna sites by the end of 2022 will not be achieved, it said.
The most recent index changes were implemented on Monday. Siemens Energy is back in the Dax. While the title of the climber was under pressure, investors grabbed the relegated Hellofresh again, as its price increase of 1.1 percent shows. The recipe box supplier has its new home in the MDax. There and in the SDax there were various other changes.
Several new SDax members came under a lot of pressure now that the changes were complete. These included the shares of Nordex, Uniper and Energiekontor from the energy sector with discounts of between 3.9 and 6.5 percent. Cropenergies also fell by 6.2 percent. The bioethanol producer announced that a reduction in production is being considered due to cost pressures.
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.
