The weakness on New York’s Wall Street has also dragged down the leading German index. This overshadowed the signals from the European Central Bank about a rate cut in June. The 18,000 point mark in the Dax fell.
The weakness on New York’s Wall Street has also dragged down the leading German index. This overshadowed the signals from the European Central Bank about a rate cut in June. The 18,000 point mark in the Dax fell.
The German stock market barometer went out of trading with a discount of 0.79 percent to 17,954.48 points. The MDax of medium-sized stocks fell by 0.88 percent to 26,703.18 points, and stock markets across Europe also weakened. The EuroStoxx 50, the leading index for the euro zone, lost 0.68 percent to 4966.68 points.
At the close of trading in Europe, the US stock exchanges recovered from their sometimes significant losses at the start of trading. The technology-heavy Nasdaq even found its way into positive territory.
In the afternoon, the euro currency watchdogs initially left the key interest rates unchanged and then – against the background of lower consumer prices – promised a rate cut. Inflation has continued to decline and most measures of underlying inflation are also easing, according to ECB President Christine Lagarde.
The Deutsche Telekom share was particularly visually weak in the Dax, as it was traded at a dividend discount. At the top of the DAX, the paper from the energy supplier RWE gained 2.7 percent. The defense stock Rheinmetall rose 1.9 percent after a setback on Tuesday and continued losses on Wednesday.
Gerresheimer’s shares in the MDax fell by 4.2 percent after the specialty packaging manufacturer’s quarterly figures and the confirmation of its annual targets. The reduction in inventories among pharmaceutical customers will probably also be noticeable in the second quarter.
The euro came under pressure and was trading at $1.0707 early in the evening. The ECB set the reference rate at $1.0729. On the bond market, the current yield rose from 2.4 percent the day before to 2.51 percent. The Rex bond index fell by 0.53 percent to 124.51 points. The Bund future fell by 0.24 percent to 131.40 points.
Source: Stern
