After the significant correction at the end of last week, the DAX stabilized on Monday. The first bargain hunters snapped up shares again after the recent losses. Further price gains in US technology stocks also gave some encouragement. At the end of trading, the German leading index recorded an increase of 0.37 percent to 18,068.21 points.
Last week, the Dax broke the upward trend that had been in place since October 2023. In addition to political uncertainty in France and discussions about a tariff dispute between the EU and China, the US Federal Reserve’s reluctance to cut interest rates is also preventing investors from taking greater risks.
The MDax with the medium-sized stocks lost 0.92 percent to 25,483.51 points on Monday and suffered especially from the very high price losses for the shares of Carl Zeiss Meditec and Evotec.
The medical technology group Carl Zeiss Meditec had cut its targets for the 2023/24 financial year due to an unexpectedly slow recovery in the equipment business. Shares fell by more than a fifth.
Experts at the research house Intron Health fear another profit warning for drug researcher Evotec. They downgraded the shares twice from ‘buy’ to ‘sell’, after which the shares closed trading at a discount of 9.5 percent.
Source: Stern
