The DAX’s record hunt came to a halt on Thursday. Market participants spoke of a healthy reprieve after the last seven days of profits. They sometimes consider the market situation to be overbought.
The DAX’s record hunt came to a halt on Thursday. Market participants spoke of a healthy reprieve after the last seven days of profits. They sometimes consider the market situation to be overbought.
However, the loss for the leading index was small around midday at 0.15 percent to 16,630.85 points. The day before, the Dax had reached another record high of 16,727 points. Its year-end rally since the October low has given investors a gain of 13.7 percent so far.
The MDax of medium-sized companies recorded a discount of 1.09 percent to 26,446.18 points on Thursday. The Eurozone index EuroStoxx 50 fell by around 0.2 percent. Profit-taking after poor development on the overseas stock exchanges initially characterized trading.
In the Dax, the biggest losers so far this year have been at the bottom of the field: Zalando, Bayer and Siemens Energy fell by up to three percent. Investors want to present their balance sheets in a good light towards the end of the year; stocks that have performed poorly do not fit into the portfolio.
Lufthansa shares fell by more than four percent in the MDax. JPMorgan had downgraded it twice from “Overweight” to “Underweight”. Analyst Samuel Bland fears that significant capacity expansions in an environment of lower economic growth could put traditional airlines’ returns under pressure again.
Source: Stern
