The Dax continued its downward trend on Wednesday and fell back below the 16,000 point mark. Investors remained wary of Federal Reserve meeting minutes, the market said. In the afternoon, the leading German index was down 0.59 percent at 15,943.94 points.
The Dax continued its downward trend on Wednesday and fell back below the 16,000 point mark. Investors remained wary of Federal Reserve meeting minutes, the market said. In the afternoon, the leading German index was down 0.59 percent at 15,943.94 points.
In the past two trading days, the lack of impetus from Wall Street being closed for the holiday had already weighed on the stock market barometer. The new attempt at the previous record high of mid-June at 16,427 points came to an abrupt halt.
In the middle of the week, the previously strong MDax for medium-sized companies also buckled – it was last 1.27 percent lower at 27,469.90 points. At about the same time, the leading eurozone index, the EuroStoxx 50, fell by 0.72 percent to 4359.48 points. Further headwind could possibly come from the US stock exchanges, which are also expected to be weaker after their break.
On the company side, Continental shares took the top spot in the Dax in Germany with a price increase of 2.6 percent. Stocks benefited from a positive rating from Exane BNP Paribas. One of the biggest index losers was Vonovia with a discount of more than two percent. After the strong previous day in real estate values, investors took profits. Other sector members such as TAG Immobilien (down 3.1 percent) and LEG (down 1.5 percent) also lost ground.
The euro was little changed in afternoon trade at $1.0880. The European Central Bank (ECB) set the reference rate at $1.0895 on Tuesday afternoon. On the bond market, the current yield fell to 2.51 percent from 2.55 percent the previous day. The Rex pension index rose by 0.08 percent to 124.11 points. With a plus of 0.01 percent, the Bund future was almost flat at 133.20 points.
Source: Stern
