Stock exchange in Frankfurt: Dax in reverse gear – Bayer shares fall significantly

A price slide in Bayer shares put the Dax under some pressure again on Tuesday. Worries about inflation that flared up again added to the burden. After a strong start to the week, the leading German index lost 0.25 percent to 15,343.41 points. The MDax for medium-sized stocks fell by 0.52 percent to 28,529.87 points. The leading eurozone index, the EuroStoxx 50, fell by 0.28 percent.

Inflation data from major European countries for the current month raised fears of further interest rate increases in the euro zone: in France, inflation surprisingly reached a record high and in Spain, inflation rose unexpectedly. The market is now expecting the key interest rate to rise to four percent. It is currently three percent.

Bayer shares lost 3.5 percent at the end of the Dax. The pharmaceutical and agrochemical group had disappointed with its profit outlook. However, the expert Gunther Zechmann from the US analyst firm Bernstein Research qualified that the outlook is not as bad as it appears at first glance. The difference to market expectations is mainly due to exchange rate influences.

At the top of the Dax, Adidas shares benefited from analyst praise with a plus of 1.3 percent: Two banks had made positive comments about the sporting goods manufacturer. The market has become too cautious with regard to the company’s profitability, wrote analyst Graham Renwick from Berenberg. There should still be headwind in 2023, but the new boss Björn Gulden has made a clean sweep of the new outlook. He also has a reputation for promising less than he delivers. With the right strategy and its implementation as well as investments, Adidas is in a good starting position for the important sporting year 2024.

In the MDax, Aixtron shares were the clear favorite with a plus of almost ten percent. The semiconductor equipment supplier wants to accelerate growth in the new year after being burdened by delivery delays.