The Dax’s recovery appears to be over: the leading German index lost 0.3 percent to 18,035 points in the first minutes of trading on Thursday. Recently, the Dax was able to recover significantly. However, it has not yet been able to sustainably break through the correction trend since its record high of 18,567 points reached at the beginning of the month.
The Dax’s recovery appears to be over: the leading German index lost 0.3 percent to 18,035 points in the first minutes of trading on Thursday. Recently, the Dax was able to recover significantly. However, it has not yet been able to sustainably break through the correction trend since its record high of 18,567 points reached at the beginning of the month.
The MDax of medium-sized stocks fell by 0.3 percent to 26,278 points in early trading on Thursday. The EuroStoxx 50, the leading index for the Euroregion, lost 0.1 percent.
Trading events are characterized by a jam-packed daily agenda: the number of German companies presenting results for the first quarter alone is in the double digits. These include BASF and Deutsche Bank from the Dax.
Deutsche Bank initially lost two percent. Despite higher provisions for possible risks, the Frankfurt-based company made higher profits at the start of the year and CEO Christian Sewing spoke of the “best result since 2013”. However, the shares had already climbed to their highest level since 2018, where the air could now become a little thinner.
BASF, however, made gains. The world’s largest chemical company started the new year with a decline in sales. However, analyst Chetan Udeshi from the US investment bank JPMorgan was satisfied in his initial reaction. Leverkusen exceeded expectations – with a good business mix.
Source: Stern
