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Stock exchange in Frankfurt: Dax stagnates – Airbus again at the bottom

Stock exchange in Frankfurt: Dax stagnates – Airbus again at the bottom
Stock exchange in Frankfurt: Dax stagnates – Airbus again at the bottom

The attempt at a recovery on the German stock market fizzled out again on Wednesday. After initial gains, the leading index, the DAX, turned negative late in the afternoon. The uncertainty surrounding the upcoming quarterly balance sheets in the USA and the approaching election to the French National Assembly deterred investors from buying shares. The French stock market index, the Cac 40, fell more sharply than the DAX. The euro also came under pressure again.

The Dax closed 0.12 percent lower at 18,155.24 points. It only narrowly avoided falling below the round mark of 18,000 points. The MDax of medium-sized companies lost 0.52 percent and closed at 25,335.92 points.

As on the previous day, the biggest loser in the DAX was Airbus, with a loss of 2.8 percent. The aircraft manufacturer has informed airlines that the delivery of ordered aircraft could be delayed in the next two years, reported the Bloomberg news agency, citing people familiar with the matter. According to observers, this could be an indication that problems with the supply chains will continue well beyond the current year.

Volkswagen lost 1.6 percent, and car stocks were generally weak. The Wolfsburg-based company plans to invest up to 5 billion US dollars in the US electric car manufacturer Rivian in the coming years. Analysts praised the move, but criticized the lack of details.

The shares of SAP and Deutsche Börse reached record highs. SAP ended up gaining 2.4 percent, while Deutsche Börse then turned negative and ended up losing 0.3 percent. Investment bank Jefferies had a positive opinion on SAP shares.

Among the small caps, Delivery Hero fell by 6.6 percent and Hellofresh by 7.9 percent. The investment bank JPMorgan had made negative comments about the food delivery industry.

The Eurozone’s leading index, the EuroStoxx 50, lost almost half a percent. Prices also fell in Paris and London. The New York leading index, the Dow Jones Industrial, and the technology-heavy Nasdaq 100 were moderately down at the close of European trading.

The euro continued to fall and was last valued at 1.0680 US dollars. The European Central Bank had previously set the reference rate at 1.0689 (Tuesday: 1.0714) dollars.

On the bond market, the yield on outstanding bonds rose from 2.47 percent the day before to 2.48 percent. The Rex bond index fell by 0.07 percent to 124.88 points. The Bund future lost 0.39 percent to 132.05 points in the evening.

Source: Stern

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