The ongoing US debt dispute accelerated the downward momentum of the Dax on Wednesday. Around noon, the leading German index lost 1.55 percent to 15,902.97 points. After the record high of 16,331 points on Friday, he is heading for the third weak day in a row.
The ongoing US debt dispute accelerated the downward momentum of the Dax on Wednesday. Around noon, the leading German index lost 1.55 percent to 15,902.97 points. After the record high of 16,331 points on Friday, he is heading for the third weak day in a row.
The MDax for medium-sized companies fell by a further 1.66 percent to 26,934.67 points in the middle of the week, and the leading eurozone index EuroStoxx 50 lost 1.63 percent to 4271.61 points.
In addition to the US debt dispute, the focus was on the Ifo business climate, which clouded over in May for the first time in six months. According to experts, the damper in the most important German economic barometer is not an outlier. They don’t want to rule out a recession in the second half of the year.
A sell recommendation from the US investment bank Goldman Sachs, which also halved the price target to EUR 15, caused the shares of the battery manufacturer Varta to fall to a record low. Most recently, they were at the bottom of the SDax small-cap index with a drop of more than ten percent to EUR 16.80.
Meanwhile, ticket seller CTS Eventim presented full figures for the first quarter, showing a significant increase in profits. CTS Eventim also confirmed its annual targets. Although neither of these came as a surprise, the shares, the biggest MDax loser, lost 6.3 percent. In the past few days, however, they had also picked up significantly.
Armor titles continued to correct. In the Dax, Rheinmetall fell by 240 euros and lost more than nine percent in two days. They have already corrected 15 percent of the record in April at a good 281 euros. The MDax-listed industry colleague Hensoldt posted another minus of three percent this time.
Source: Stern
