Recession concerns in the US triggered profit-taking on the German stock market on Thursday. The leading index Dax closed 1.72 percent lower at 14,920.36 points. The MDax for medium-sized companies fell by 2.5 percent to 28,100.07 points.
Recession concerns in the US triggered profit-taking on the German stock market on Thursday. The leading index Dax closed 1.72 percent lower at 14,920.36 points. The MDax for medium-sized companies fell by 2.5 percent to 28,100.07 points.
The data on industrial production and retail sales in the US from the previous day had brought back concerns about a contraction in the world’s largest economy, wrote market analyst Jochen Stanzl from the trading house CMC Markets. Since the increase in producer prices also weakened surprisingly sharply in December, the US Federal Reserve should see its decision to slow down its rate hikes in early February, “but not suspend its tightening of monetary policy, as the labor market remains tight”. .
The shares of the auto supplier Continental continued to suffer from the profit margins published on Tuesday evening. After losses of around 3 percent on Wednesday, it was now more than 5 percent.
Papers from Beiersdorf rose by 0.6 percent and thus benefited from a confident analyst comment. The new management team, an improved operational structure and the investment ambitions underpinned his confidence in the consumer goods group, wrote the expert Fulvio Cazzol from the private bank Berenberg.
The Eurozone leading index EuroStoxx 50 lost 1.92 percent to 4094.28 points. The leading French index Cac 40 came under similar pressure, while the British FTSE 100 only fell by around one percent. In New York, the leading index Dow Jones Industrial fell by almost one percent at the close of the European stock market.
The course of the euro gave way: The European Central Bank set the reference rate at 1.0815 dollars. On the bond market, the current yield fell to 2.03 percent from 2.09 percent the previous day. The Rex pension index rose by 0.36 percent to 127.62 points. The Bund future fell by 0.41 percent to 139.63 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.
