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Wednesday, November 30, 2022

Stock exchange in Frankfurt: share index Dax loses significantly

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Jane
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.
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The disappointment on Wall Street about the statements made by the US Federal Reserve also slowed prices on the German stock market on Thursday. There are still no signs of a break in interest rate hikes in the USA. Around noon, the Dax fell by 1.14 percent to 13,105.82 points. Mixed quarterly reports could not push the leading index.

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The disappointment on Wall Street about the statements made by the US Federal Reserve also slowed prices on the German stock market on Thursday. There are still no signs of a break in interest rate hikes in the USA. Around noon, the Dax fell by 1.14 percent to 13,105.82 points. Mixed quarterly reports could not push the leading index.

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The MDax fell particularly significantly by 2.31 percent to 23,201.89 points, while the leading euro zone index EuroStoxx 50 lost a little more than one percent. In New York, the Dow Jones Industrial had slipped into the red by one and a half percent late the previous evening.

The US Federal Reserve indicated that it may raise interest rates less significantly in December than it has recently. Fed Chair Jerome Powell said it was “very premature” to consider pausing rate hikes. It takes time and patience to keep inflation down. As expected, the Fed raised its key interest rate by 0.75 percentage points for the fourth time in a row.

Against the background of the interest rate perspective, the papers of banks and insurers were still the most stable in Europe. In day-to-day business, they are seen as potential beneficiaries of high interest rates. In the Dax, Hannover Re settled at a plus of 2.2 percent. Investors reacted with relief to the fact that the previous profit target was narrowed down due to the damage caused by Hurricane “Ian”, but the range is still considered achievable.

On the other hand, there were larger losses in the auto sector, led above all by BMW. According to figures, the title of the car manufacturer lost 6.3 percent. Merely confirmed annual targets obviously did not satisfy investors.

Source: Stern

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