After the weak start to the week, the downward trend on the German stock market continued on Tuesday. The German leading index, which had already started trading lower, was down 0.55 percent at 15,320.52 points around midday and was therefore at the level of March.
After the weak start to the week, the downward trend on the German stock market continued on Tuesday. The German leading index, which had already started trading lower, was down 0.55 percent at 15,320.52 points around midday and was therefore at the level of March.
The MDax, an index of medium-sized stocks, fell even more significantly, falling by 1.08 percent to 25,847.65 points. The Eurozone leading index EuroStoxx 50 lost around 0.7 percent.
A mixture of interest rate and growth concerns is currently weighing on the German stock market. Among the weakest values in the Dax, the shares of the online fashion retailer Zalando also remained under pressure and fell by around two percent. Stock marketers drew negative conclusions from current figures from the British online retailer Asos. Expert Andrew Wade from the analysis company Jefferies spoke of disappointing sales, margin and cash developments, which marked the end of a difficult financial year.
Significant price movements in the SDax
Otherwise there were significant price movements, especially in the SDax. At the end of the index, Verbio’s shares fell by up to 14 percent; around midday the loss was still a good eleven percent. High energy and raw material costs as well as lower sales prices placed a heavy burden on the biopower manufacturer in the last financial year. Above all, the company was disappointed with its profit outlook; market expectations had so far been well above the upper end of the target range.
The papers from Eckert & Ziegler were ahead in the SDax, rising by almost ten percent. The radiation and medical technology group secured a major order from the USA. This involves the delivery of carrier-free lutetium-177 to the US company Point Biopharma.
Source: Stern
