The German stock market is extending its recent losses. The leading index Dax fell by 0.64 percent to 15,618.66 points by midday, but remained within the trading range that has existed for several weeks between around 15,500 and 16,000 points.
The German stock market is extending its recent losses. The leading index Dax fell by 0.64 percent to 15,618.66 points by midday, but remained within the trading range that has existed for several weeks between around 15,500 and 16,000 points.
Investors are currently witnessing slowing growth and stubborn inflation in the Eurozone. There are fears that central banks could keep interest rates high for even longer. However, high interest rates make stocks appear in a worse light compared to bonds.
The MDax of medium-sized stocks fell by 0.72 percent to 26,966.25 points. The Eurozone leading index EuroStoxx 50 fell by 0.66 percent.
“The interest rate decisions of the European Central Bank and the US Federal Reserve next week and the week after next cast their shadows,” write the analysts at Landesbank Hessen-Thüringen. In terms of the economy and inflation prospects, the picture is mixed on both sides of the Atlantic.
In the gloomy environment, the economically sensitive chemical stocks came under pressure across Europe and here too. In the DAX, BASF shares lost 2.8 percent.
SAP shares swam against the tide and increased by 0.37 percent to 130.74 euros. In the chart, the path to the record high from 2020 at a good 143 euros is clear. The day before, SAP announced that it would take over the software management company LeanIX. According to expert Michael Briest from UBS Bank, the Bonn-based solutions are intended to make it easier for SAP customers to switch to the cloud.
Source: Stern
