Investors on the German stock market continued to act cautiously on Thursday. The leading index Dax was down 0.10 percent in the morning at 15,725.54 points, continuing its recent series of losses.
Investors on the German stock market continued to act cautiously on Thursday. The leading index Dax was down 0.10 percent in the morning at 15,725.54 points, continuing its recent series of losses.
The MDax for medium-sized titles fell by 0.51 percent to 27,297.69 points. The Eurozone leading index EuroStoxx 50 lost 0.19 percent.
Previously, strong economic data had been negatively received by investors on the New York Stock Exchange on Wall Street, said analyst Stephen Innes from asset manager SPI Asset Management. The market is now preparing for a possibly longer rate hike cycle by the US Federal Reserve. Signs of falling interest rates in the near future are at least unlikely. Bond interest rates have therefore continued to rise recently.
However, disappointing economic data came from Germany. Industry in this country continues to develop weakly. “Obviously, the weak demand is increasingly affecting production,” commented Commerzbank economist Ralph Solveen. “In the coming months, the downward trend in industry is likely to continue and contribute to the German economy shrinking in the second half of the year.”
Economic output had already been declining in the winter months. In the spring quarter it was only enough to stagnate.
At the top of the Dax, MTU shares rose by 1.4 percent. They benefited from positive analyst commentary from Kepler Cheuvreux. There was also good news from the industry: With the half-year report, Melrose Industries increased its full-year targets.
The software group SAP wants to take over the Bonn software management company LeanIX. The SAP papers increased by 0.4 percent.
Source: Stern
