After the expected interest rate hike by the European Central Bank (ECB), the German stock market continued to fall on Thursday. The Dax extended its losses in the afternoon and fell to a daily low. Most recently, the leading index was down 0.9 percent at 16,170.08 points. The MDax of medium-sized companies lost 1.7 percent to 27,081.25 points. The EuroStoxx 50 fell 1.0 percent.
After the expected interest rate hike by the European Central Bank (ECB), the German stock market continued to fall on Thursday. The Dax extended its losses in the afternoon and fell to a daily low. Most recently, the leading index was down 0.9 percent at 16,170.08 points. The MDax of medium-sized companies lost 1.7 percent to 27,081.25 points. The EuroStoxx 50 fell 1.0 percent.
In the fight against persistently high inflation, the euro currency watchdogs followed up with the eighth interest rate hike in a row. The Council of the European Central Bank (ECB) decided to raise the key interest rate by 0.25 percentage points to 4.0 percent.
Disappointing data from Chinese industry put export-heavy German chemical stocks under pressure. In the Dax, Covestro slipped at the bottom by 3.5 percent, BASF by 1.9 percent. At Lanxess, Evonik and Wacker Chemie in the MDax, the discounts were between 2.2 and 3.8 percent. Other sectors that are particularly dependent on the global economy, such as raw materials and metals, were also under pressure, which was evident at Aurubis and Thyssenkrupp with losses of up to 3.4 percent.
The euro rose after the ECB interest rate decision and was last traded at $1.0870. The European Central Bank had set the reference rate at $1.0809 (Tuesday: $1.0793) the day before. The dollar had thus cost 0.9252 (0.9265) euros. On the bond market, the current yield rose from 2.50 percent the day before to 2.55 percent. The Rex pension index fell by 0.27 percent to 124.61 points. The Bund future recently lost 0.60 percent to 132.34 points.
Source: Stern
