Profit-taking slowed the rally in the German stock market on Wednesday. After a cautious start, the Dax slipped a little further in the first hour of trading and was 0.34 percent lower at 14,329.11 points. The MDax for medium-sized stocks fell even more, down 0.88 percent to 25,950.63 points. At the European level, on the other hand, the leading euro zone index, the EuroStoxx 50, was almost flat at minus 0.08 percent at 3912.01 points.
Profit-taking slowed the rally in the German stock market on Wednesday. After a cautious start, the Dax slipped a little further in the first hour of trading and was 0.34 percent lower at 14,329.11 points. The MDax for medium-sized stocks fell even more, down 0.88 percent to 25,950.63 points. At the European level, on the other hand, the leading euro zone index, the EuroStoxx 50, was almost flat at minus 0.08 percent at 3912.01 points.
The stock exchanges in Europe are thus tending to follow Wall Street, where investors had already taken profits the day before and thus somewhat dampened the upward trend. Concerns about a new escalation between NATO and Russia after a missile hit Poland had initially caused more excitement before the official start of the stock exchange in this country, but there are now indications that the missile is an anti-aircraft missile from Ukraine and not from Russia, as first feared.
Armaments values across Europe benefited from the recent political discussions surrounding the Ukraine conflict. In Germany, Rheinmetall has increased in price by almost five percent, and the group has also set itself higher medium-term goals due to the armament in many NATO countries. Industry colleague Hensoldt saw a similar increase at the top of the SDax.
The air for the German leading index Dax is now getting thinner at the highest level since the beginning of June. Starting from its low for the year at the end of September, it has meanwhile gained more than a fifth.
The papers of the energy technology group Siemens Energy climbed the winner’s podium in the Dax with a price increase of more than four percent to a high since the end of August. The company slipped deeper into the red in the past fiscal year, among other things due to high losses at the wind power subsidiary Siemens Gamesa, and investors have to forego a dividend this time. However, the final quarter was particularly well received by connoisseurs.
At the end of the Dax, the Mercedes Benz shares were listed at a discount of almost three percent. Investors are taking profits at the automaker after the recent rally to a high since June. In addition, there is a report by the Bloomberg news agency, according to which the group has significantly reduced the prices for electric cars in China.
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.
