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Stock exchange in Frankfurt: Dax weakens in the wake of negative US impulses

Stock exchange in Frankfurt: Dax weakens in the wake of negative US impulses

The Dax ended an unspectacular trading day just in the red on Tuesday. After a cautious start, it remained moderately positive for a long time, despite gloomy economic data from China and Germany, before negative impulses from the USA put a damper on it.

The Dax ended an unspectacular trading day just in the red on Tuesday. After a cautious start, it remained moderately positive for a long time, despite gloomy economic data from China and Germany, before negative impulses from the USA put a damper on it.

At the close of the market, the leading German index was down 0.12 percent at 15,897.93 points, but was able to hold its ground at the comparatively high level of the past few weeks. The well-noticed mark of 16,000 points, which the Dax has to overcome on the way to the previous record high of 16,290 points, once again proved to be too high a hurdle. The MDax for medium-sized companies ultimately fell by 0.24 percent to 27,319.70 points.

The Eurozone leading index EuroStoxx 50 was on the spot on Tuesday with 4315.51 points. In Paris and London, prices went down a bit, and the leading US index, the Dow Jones Industrial, was down 0.7 percent at the end of trading in Europe.

Surprisingly weak growth in China’s industrial production and consumer spending added to concerns about the country’s economic recovery, which is important for the global economy. In addition, the economic expectations of financial experts in Germany collected by the ZEW research institute clouded over more than expected. But only the US retail data, which rose less than expected, and the weak US stock exchanges caused the Dax to slide a bit.

Among the individual values, the shares of the renewed Dax leader Siemens Energy increased by another almost three percent. The day before, the energy technology group had impressed with strong incoming orders and sales in the first quarter, despite the continued weakness of the wind turbine subsidiary Siemens Gamesa. With price gains of 2.3 percent, Infineon titles, which were in demand like other European chip manufacturers, also attracted attention.

On the other hand, the weak economic data from the important Chinese market put the shares of German vehicle manufacturers under pressure. Volkswagen and its sports car subsidiary Porsche AG were hit hardest, with share price declines of 1.8 percent each, while the premium competitors Mercedes-Benz and BMW posted significantly smaller losses.

The euro was last traded little changed at 1.0861 US dollars. The ECB had previously set the reference rate at $1.0881. On the bond market, the current yield fell from 2.30 percent on the previous day to 2.29 percent. The Rex pension index fell by 0.01 percent to 126.79 points. The Bund future lost 0.52 percent to 135.23 points.

Source: Stern

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