Mixed economic signals weighed on the German stock market somewhat on Tuesday. The leading index Dax fell by 0.55 percent to 15,392.68 points by midday. The MDax of medium-sized stocks lost 0.64 percent on Tuesday to 28,619.74 points. The EuroStoxx 50, the leading index in the euro zone, fell by 0.73 percent.
Mixed economic signals weighed on the German stock market somewhat on Tuesday. The leading index Dax fell by 0.55 percent to 15,392.68 points by midday. The MDax of medium-sized stocks lost 0.64 percent on Tuesday to 28,619.74 points. The EuroStoxx 50, the leading index in the euro zone, fell by 0.73 percent.
Purchasing manager indices from Germany and France were received rather negatively in this country. In the euro zone as a whole, corporate sentiment continued to improve in February and also more significantly than expected. Bank economists commented on the development mostly positively, but also pointed to the persistently high upward pressure on prices. Together with the tight labor market, this indicates that the European Central Bank will tighten its monetary policy further, according to the analysis house Capital Economics. The focus of investors is primarily on economic data from the USA.
On the company side, analyst assessments, among other things, had a price-moving effect. The titles of the German stock exchange went down by more than one percent. Market expectations for 2024 and 2025 now seem quite ambitious, argued Jefferies analyst Tom Mills. Lufthansa’s shares, on the other hand, rose by a good one percent in the MDax. Zalando shares fell almost two percent. The online fashion retailer wants to cut “a few hundred” jobs because of the difficult economic environment.
Source: Stern
