On Monday, the Dax fluctuated within narrow limits between slight gains and losses. Investors are cautious as important interest rate decisions are imminent, most notably those by the US Federal Reserve on Wednesday. The European Central Bank (ECB) will follow on Thursday. Both are expected to hike interest rates by 0.25 percentage points.
On Monday, the Dax fluctuated within narrow limits between slight gains and losses. Investors are cautious as important interest rate decisions are imminent, most notably those by the US Federal Reserve on Wednesday. The European Central Bank (ECB) will follow on Thursday. Both are expected to hike interest rates by 0.25 percentage points.
The leading German index fell by a moderate 0.10 percent to 16,161.21 points in the afternoon. The MDax with the 50 shares of medium-sized listed companies lost 0.16 percent on Monday afternoon to 28,206.65 points. At the same time, the EuroStoxx 50, the stock market barometer for the heavyweights in the eurozone, fell by 0.5 percent.
Among the individual stocks in the Dax, Continental shares took the lead with a plus of 2.0 percent. A study by Bankhaus Metzler lent momentum. Sartorius, which had already increased by almost 8 percent on Friday due to the hope of increasing orders in the second half of the year, rose by a further 1.6 percent.
After better-than-expected quarterly figures from British Vodafone, telecom stocks also rose in Germany. Deutsche Telekom’s shares rose by 0.7 percent. In the MDax, Telefonica Germany rose by 0.9 percent. Freenet rose by 0.4 percent and United Internet gained 1.7 percent in the SDax.
The euro slipped below the $1.11 mark and was last traded at $1.1090. The ECB had set the reference rate at $1.1123 on Friday afternoon. In the bond market, the current yield fell to 2.45 percent from 2.54 percent on Friday. The Rex pension index rose by 0.32 percent to 124.75 points. The Bund future gained 0.62 percent to 133.97 points.
Source: Stern
