Prices in German stock trading fell significantly on Thursday. A very weak technology sector – the US Nasdaq 100 index slipped to its lowest level since June the day before – and the high yield on ten-year US government bonds are causing unease among investors.
Prices in German stock trading fell significantly on Thursday. A very weak technology sector – the US Nasdaq 100 index slipped to its lowest level since June the day before – and the high yield on ten-year US government bonds are causing unease among investors.
In early Xetra trading, the leading index Dax lost 1.4 percent to 14,679 points. The stock market barometer thus approached Monday’s low of 14,630 points, which was the lowest price since mid-March.
The MDax of medium-sized companies lost 1.1 percent to 23,758 points. The Eurozone leading index EuroStoxx 50 fell by 1.3 percent.
The quarterly balance sheets once again set the tone on the penultimate trading day of the week, before the key interest rate decision by the European Central Bank (ECB) attracts attention in the afternoon. The majority of market observers assume that after ten recent interest rate increases there will be no further increase. Inflationary pressure is now easing and the economy is weakening.
Looking at the individual stocks in the Dax, Mercedes-Benz stood out with a discount of a good six percent. Due to tough competition in the car business, the Stuttgart-based company is becoming more cautious with its forecast for the year as a whole. Securities from Rheinmetall, on the other hand, rose by a good three percent, and the industrial group once again benefited from the arms and ammunition business.
Shares in Siemens Energy fell below 10 euros for the first time since going public three years ago; the recent loss was almost six percent. The trigger was a report in “Wirtschaftswoche” about negotiations with the federal government over billions in guarantees for the energy technology company.
There was bad news from the chip industry: Aixtron fell by 3.3 percent in the MDax of medium-sized stocks. The chip industry supplier’s profitability fell short of expectations in the third quarter. A more cautious annual forecast from Süss Microtec for the fiscal year even caused the chip supplier’s share price to fall by 13 percent.
Source: Stern
