In view of the uncertainties about the impending default in the USA, the Dax will not make any progress on Wednesday either. In early trading, the leading index was hardly changed at minus 0.08 percent to 15,885.59 points. For almost two weeks it has barely moved within sight of the annual high of 16,011 points.
In view of the uncertainties about the impending default in the USA, the Dax will not make any progress on Wednesday either. In early trading, the leading index was hardly changed at minus 0.08 percent to 15,885.59 points. For almost two weeks it has barely moved within sight of the annual high of 16,011 points.
The MDax for medium-sized companies recently fell by 0.32 percent to 27,233.27 points. The picture was similar in the Eurozone leading index EuroStoxx 50 with minus 0.4 percent.
US President Joe Biden will return home on Sunday after the end of the G7 summit in Japan due to the impending default of his country. US Treasury Secretary Janet Yellen warned that the default could occur as early as June 1st. After a high-level meeting to settle the US debt dispute on Monday, however, Biden expressed “optimism”.
On the US stock market, the debt dispute had partly weighed on investor sentiment the day before. On the other hand, investors in Japan are in a good mood, where the leading index Nikkei 225 climbed above the 30,000 point mark for the first time since September 2021. Surprisingly high economic growth in the first quarter fueled optimism for equities there.
Commerzbank shares lost 7.5 percent according to quarterly figures. They were behind in the Dax. Despite the raised forecast for net interest income, the market expected a little more here, a trader said.
Siemens fared better, after a higher outlook with an increase of two percent at the top of the Dax. Analysts from Goldman Sachs also spoke of a solid second quarter, with which the technology group had clearly exceeded expectations.
Also after an upwardly adjusted forecast, SAP grew by 1.7 percent. Ultimately, the sometimes higher medium-term goals of the software group were no longer so surprising, said a dealer.
In the SDax of the smaller stock market values, Grand City Properties lost more than two percent. The real estate group felt higher financing costs in the first quarter.
Source: Stern
