Frankfurt Stock Exchange: Slight Dax losses due to concerns about China’s economy

The mood on the German stock market continued to deteriorate on Tuesday. Once again disappointing economic data from China caused the prices to crumble. The leading index Dax fell by 0.24 percent to 15,786.80 points. He extended his recent losses. The MDax for medium-sized stocks fell by 0.42 percent to 27,735.57 points. The Eurozone barometer EuroStoxx lost 0.32 percent.

The Chinese economy continues to develop weakly. In August, the mood barometer for service providers determined by the business magazine Caixin fell significantly. The key figure fell by 2.3 points to 51.8 points compared to the previous month. On average, analysts had expected a much more moderate downturn. At just over 50 points, the index is still signaling growth.

At the end of the Dax, Commerzbank shares fell by 3.8 percent and were particularly burdened by a negative analyst comment. The expert Amit Goel from the British investment bank Barclays sees considerable risks for the profit expectations of the market. For example, net interest income in the core business is likely to fall in 2024, also because key interest rates have now stabilized after their sharp rise.

The papers of Deutsche Bank lost two percent. It was also noticeable here that the Federal Financial Supervisory Authority (Bafin) is increasing the pressure on the parent company in view of massive complaints from Postbank customers.

A skeptical analyst comment from the British investment bank HSBC also pushed the shares of Fresenius two percent into the red. The big question remains as to which parts of the company the medical group will sell in the announced restructuring, wrote the expert Sezgi Oezener.