Consolidation on the German stock market continued at a high level. While the leading index Dax had increased slightly on Whit Monday, it fell slightly again on Tuesday morning. Market participants attributed the ups and downs of the DAX below the 19,000 mark to the lack of stimulus from companies and the economy.
Ultimately, the Dax lost 0.22 percent to 18,726.76 points. Last week, it reached a record high of just under 19,000 points. Since the beginning of the year, the index has increased by more than 11 percent. The MDax of medium-sized companies closed 1.13 percent lower at 27,172.36 points.
Things also went down on the other European stock exchanges. The EuroStoxx 50, the leading barometer for the euro zone, lost 0.5 percent. In Paris, the decline was a little more pronounced, while the London FTSE 100 only lost a little. The US leading index Dow Jones Industrial was around half a percent in the red at the close of trading in Europe.
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Investors also exercised restraint with a view to the chip giant Nvidia’s quarterly balance sheet due on Wednesday evening. The trendsetter in artificial intelligence is worth $2.3 trillion on the stock market. Given the high expectations in the market, strategist Jürgen Molnar from Robomarkets identified “a lot of potential for disappointment.
Under the standard values, the price fluctuations were mostly manageable. Chip manufacturer Infineon’s papers came last with a loss of 3.1 percent. In the MDax, the shares of chip supplier Aixtron were also weak at minus 4.3 percent.
The weakest MDax value was the papers of the online pharmacy Redcare Pharmacy, which fell by 11 percent and fell to its lowest level since September 2023. The Swiss bank UBS recommended selling the shares in its initial assessment. The reason given is that growth impulses from the electronic prescription are now priced into the price.
Kontron shares gained 2.3 percent. The computer technology manufacturer has received an order from a large car manufacturer for intelligent charging stations for electric cars. In a first step, the order volume is at least 200 million euros.
The euro last cost 1.0853 US dollars. The European Central Bank set the reference rate at $1.0864 in the afternoon.
On the bond market, the current yield fell from 2.58 percent on Monday to 2.57 percent. The Rex bond index rose by 0.02 percent to 124.28 points. The Bund future rose by 0.17 percent to 130.81 points.
Source: Stern
