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Friday, May 20, 2022

Dax is clearly slipping into the red

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Frankfurt am Main (dpa) – The German stock market fell further into the red on Wednesday afternoon. The leading Dax index was last listed 1.46 percent lower at 14,261.43 points.

The MDax of the medium stock groups lost 1.07 percent to 31,572.25 points. The eurozone’s main index, the EuroStoxx 50, fell about 1.6 percent.

In the morning, the new inflation forecasts caused the downward trend. The Ifo Institute expects inflation in Germany to be between 5.1 and 6.1 percent in 2022. That would be the highest rate since 1982. Russian President Vladimir Putin’s remarks that “enemy states” should pay for natural gas in rubles, also weighed on the mood.

LPKF shares reacted to the laser specialist’s trading numbers, outlook and canceled dividend with a price drop of 18.4 percent. The company’s business targets are very disappointing, a trader commented in the morning.

The Car1 title, which had been hit hard in recent months, lost another 17.5 percent despite better-than-expected numbers and hit another all-time low. The outlook for 2022 is likely to dampen market expectations, analyst Adam Berlin at Swiss bank UBS wrote in an initial assessment.

After the most recent rally, shares of Delivery Hero fell significantly under the wheels again by minus 7.5 percent. With a loss of more than 60 percent, they are the weakest value in the Dax family this year.

The euro fell and last cost 1.0981 US dollars. The European Central Bank (ECB) had set the reference rate at $1.1024 the day before. The dollar had thus cost 0.9071 euros.

In the bond market, the current yield fell from 0.34 percent a day earlier to 0.33 percent. The Rex bond index rose 0.10 percent to 139.56 points, while the Bund futures gained 0.21 percent to 159.73 points.

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