Downhill for the Dax: An impending fourth corona wave caused the share index to temporarily fall to its lowest level since May. Tech companies in particular were hardly in demand among investors.
Fear of a new corona wave sent the Dax down on Thursday. The German share index broke through the narrow trading range of the past few days and fell briefly to its lowest level since May.
In the end there was a minus of 1.73 percent to 15,420.64 points. The MDax of the medium-sized values lost 1.28 percent to 34 352.34 points.
The rapid spread of the particularly contagious delta variant of the coronavirus, especially in Asia, is a growing concern. “With Covid-19, an uncertainty factor is back on the main stage,” wrote market expert Timo Emden from Emden Research. The dynamic infection process around the mutation of the so-called delta variant is teaching Europe’s investors fear again.
Among the individual stocks, with the first key figures for the second quarter, the focus was primarily on the shares of Teamviewer. After a weak quarter of the year, the software provider dampened expectations for the current year, which caused the paper at the MDax end to collapse by more than 14 percent. They are now listed again not far from their issue price of 26.25 euros at the IPO in September 2019.
In general, technology stocks were hardly in demand this Thursday, although the European industry index Stoxx Europe 600 Technology had only reached a record high the day before. Infineon sank by almost three and Aixtron by a good four percent.
Meanwhile, the top value in the MDax was Knorr-Bremse’s share, which rose by more than seven percent. The truck and train brake manufacturer had decided against a majority takeover of the automotive supplier Hella. The possibilities of transferring key technologies and products to one’s own offer were not sufficient to realize the expected synergies, it said.
At the end of June, the management confirmed a “fundamental interest” in the possible acquisition of around 60 percent of Hella shares from members of the founding family. Investors had annoyed that: The Knorr-Bremse shares have meanwhile lost around a fifth of their value. Hella’s shares closed this Thursday a good one percent in the red.
After the final figures for the first quarter of the business year, the Südzucker shares lost almost four percent as one of the worst performers in the SDax small-cap index. The food and sugar producer is suffering from a rise in costs and lower sales volumes.
In Europe, too, the price fluctuations were quite violent overall. The leading Eurozone index EuroStoxx 50 fell 2.13 percent to 3991.66 points. In Paris, the Cac 40 posted losses of a similar magnitude, while the FTSE 100 lost 1.7 percent. On Wall Street, the Dow Jones Industrial fell 0.7 percent at the close of trading here.
On the bond market, the current yield fell from minus 0.36 percent the previous day to minus 0.41 percent. The Rex bond index gained 0.05 percent to 145.35 points. The Bund future gained 0.08 percent to 174.22 points. The rate of the euro rose. The European Central Bank set the reference rate at 1.1838 (Wednesday: 1.1831) US dollars. The dollar cost 0.8447 (0.8452) euros.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
