After the rise in the Dax since the beginning of the year, investors on the German stock market took things a little slower on Tuesday. At the end of trading, the Dax lost 0.12 percent to 14,774.60 points. At the beginning of the week, the leading index had reached 14,832 points, its highest level since March 2022. The MDax for medium-sized companies fell by 0.64 percent to 27,383.67 points on Tuesday.
After the rise in the Dax since the beginning of the year, investors on the German stock market took things a little slower on Tuesday. At the end of trading, the Dax lost 0.12 percent to 14,774.60 points. At the beginning of the week, the leading index had reached 14,832 points, its highest level since March 2022. The MDax for medium-sized companies fell by 0.64 percent to 27,383.67 points on Tuesday.
Statements from the ranks of the US Federal Reserve had weighed somewhat. Two senior officials signaled that the Fed will continue its fight against high inflation and is likely to raise interest rates above the 5 percent mark.
At the top of the Dax, Bayer increased by another four percent after the previous day’s gain. Drivers this time: forecasts by the pharmaceutical company for new drugs, with which the prospectively collapsing revenues from the blockbusters Xarelto and Eylea should be compensated for in the medium term.
Internet stocks, which had risen particularly sharply since the beginning of the year, performed differently. At the end of the Dax, Zalando fell by three percent. Delivery Hero, on the other hand, gained 2.5 percent as the best MDax value.
ProSiebenSat.1 landed in last place in the index with a discount of 4.3 percent. The Italian Berlusconi media group Media For Europe (MFE) has to accept a setback in the planned increase in its stake in the German media group. The federal competition authority in Austria announced that an “in-depth examination of the project is necessary”. MFE is the largest shareholder at ProSiebenSat.1.
The Eurozone leading index EuroStoxx 50 fell by 0.27 percent to 4057.46 points. The Cac 40 in Paris and the FTSE 100 in London also declined modestly. In the USA, the leading index Dow Jones Industrial was hardly changed at the close of the European stock market.
At $1.0733, the euro remained close to its highest rate since June 2022, which it had reached the previous day. Most recently, the common currency cost $1.0732. The European Central Bank (ECB) had set the reference rate at 1.0723 (Monday: 1.0696) dollars in the afternoon, which cost the dollar 0.9326 (0.9349) euros.
The current yield on the bond market remained at 2.28 percent. The Rex pension index rose by 0.09 percent to 125.84 points. The Bund future lost 0.59 percent to 136.13 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.
