The renewed fear of a collapse of the Chinese real estate giant Evergrande has dragged Europe’s stock exchanges down again. Of the Dax fell 0.7 percent on Friday to 15,532 points. Some Evergrande dollar bond holders have failed to receive their interest payment due Thursday. There is now a 30-day grace period before a default becomes official, said investment strategist Michael Hewson from brokerage firm CMC Markets. Evergrande shares plunged nearly twelve percent in Hong Kong. The troubled corporation groans under a mountain of debt worth around 300 billion dollars. Investors hoped in vain for positive impulses from economic data. The Ifo index, which reflects the mood on the German executive floors, fell again.
The Dax losers included Adidas and Puma with a discount of 2.5 and 3.1 percent, respectively. The sporting goods manufacturers suffered from disappointing business figures and lowered full-year targets from US rival Nike, said a stockbroker. North Americans are troubled by supply chain disruptions. Nike titles lost 6.3 percent in New York. Daimler’s papers were at the top of the Dax with a premium of 1.7 percent. The car manufacturer joins the battery alliance (ACC) of the large corporations Stellantis and Totalenergies. Papers from the pharmaceutical and medical technology sectors, on the other hand, were weak. In the Dax, Sartorius were among the biggest losers with minus 3.3 percent, in the M-Dax Carl Zeiss Meditec, Evotec and Gerresheimer were behind with sales of up to 4.6 percent. Eckert & Ziegler took last place in the S-Dax secondary stock index with a minus of almost six percent. Encouraging test results for a prostate cancer drug lifted the shares of the British-Swedish pharmaceutical company Astra Zeneca on the London Stock Exchange by two percent. Analyst Alistair Campbell of the investment bank Liberum praised the agent for more variants than expected. This means that the sales target of four billion dollars can be significantly exceeded. Investors on the US stock exchanges did not take any risks in view of the Evergrande Group’s crisis.
The Dow Jones closed 0.1 percent higher.