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Thursday, October 6, 2022

Stock exchange in Frankfurt: Dax is approaching a low for the year

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The German stock market is also weak on the last trading day of the week. The recent accumulation of interest rate hikes by major central banks are still troubling investors on Friday morning. The leading index Dax fell in early trading by 0.55 percent to 12,463 points and fell to its lowest level since mid-July. On a weekly basis, it looks like a loss of about two percent.

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The German stock market is also weak on the last trading day of the week. The recent accumulation of interest rate hikes by major central banks are still troubling investors on Friday morning. The leading index Dax fell in early trading by 0.55 percent to 12,463 points and fell to its lowest level since mid-July. On a weekly basis, it looks like a loss of about two percent.

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For the Dax, it should now depend on the zone around 12,400 points. The lows for the year in March and July are at this level. Dax prices below could accelerate the descent, say analysts. The MDax lost 0.83 percent on Friday morning to 23,075 points. The leading eurozone index, the EuroStoxx 50, fell by half a percent.

The withdrawal of the annual targets at the real estate financier Hypoport caused a stir. The shares contained in the SDax of the smaller stock exchange stocks collapsed by almost 40 percent to their lowest level in five years. The company had announced the previous evening that the current forecast for the year would be “clearly missed”. Analyst Simon Keller from Hauck Aufhäuser Investment Banking called the news “devastating”. The decline in home loans appears to be accelerating as interest rates rise.

Symrise shares took the lead in the Dax with a premium of three percent. The US bank JPMorgan advised to buy the papers of the manufacturer of fragrances and flavorings. Beiersdorf was in second place in the Dax with a plus of two and a half percent after Bank of America had attested upside potential of around 20 percent for the share.

In the MDax, the sell-off of Varta shares continued, falling by a good eight percent. The shares of the battery manufacturer are now threatened with a low for three years.

Source: Stern

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