The recent upswing on the German stock market was interrupted on Wednesday, at least for the time being. The Dax fell by 0.68 percent to 14,280.50 points by the afternoon. After price gains of more than 20 percent since the annual low at the end of September, stockbrokers had recently warned of the stock market overheating.
The recent upswing on the German stock market was interrupted on Wednesday, at least for the time being. The Dax fell by 0.68 percent to 14,280.50 points by the afternoon. After price gains of more than 20 percent since the annual low at the end of September, stockbrokers had recently warned of the stock market overheating.
The MDax fell even more significantly, falling 1.45 percent to 25,801.61 points. At the European level, however, the losses were lower, with the Eurozone leading index EuroStoxx 50 recently losing 0.4 percent. The New York Stock Exchange showed a cautious opening.
Siemens Energy trumped as a latecomer to the end of the reporting season: The papers of the energy technology group jumped to their highest level since August and recently gained 3.4 percent. Analyst Philip Buller from Berenberg Bank spoke of an “excellent financial year”. There were positive voices in particular about the order intake and the cash flow.
At the end of the Dax, the car values collected with significant losses. Investors were obviously irritated by the fact that Mercedes-Benz drastically reduced its prices for two electric car models in China. The tough competition there is increasingly weighing on sales. The Stuttgart titles led the list of losers in the Dax with minus 5.9 percent. Shares in Volkswagen, BMW and the supplier Continental also suffered. They fell by up to 4.4 percent.
The Evotec share, which was 4.4 percent weaker, appeared far below in the MDax due to a canceled buy recommendation by Deutsche Bank. According to analyst Falko Friedrichs, achieving the goals set for 2022 is at stake for the pharmaceutical researcher. In addition, the outlook for 2023 is ambitious.
The exchange rate of the euro temporarily rose above 1.04 US dollars again on Wednesday. Most recently, $1.0396 was paid. The European Central Bank (ECB) had set the reference rate at $1.0404 the day before.
The prices of German government bonds changed only slightly. As on the previous day, the current yield was 2.09 percent. The Rex pension index rose by 0.19 percent to 127.51 points. The Bund future moved 0.13 percent lower at 139.53 points.
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.
