After the recent price gains, the European stock markets suffered heavy losses on Thursday. Of the dax temporarily fell by 2.5 percent to 13,479 points, but then closed 0.6 percent down. The US inflation data published the day before proved to be a drag, with the rise in April slowing down somewhat, but not as significantly as hoped. Many investors now fear that the central banks could counteract this with larger interest rate hikes, which could choke off economic growth.
In addition, numerous company balance sheets were disappointing, and the tense corona situation in China also unsettled investors. In Shanghai, two new infections were discovered in neighborhoods previously designated “Covid-free.” The economic metropolis has been in lockdown for six weeks.
Burdens from the withdrawal from Russia and mixed quarterly results sent Siemens shares plummeting. The titles fell by 2.5 percent and were among the weaker values in the Dax. “In addition, some had hoped for a forecast increase,” said a trader. After a slump in profits in the quarter, Heidelberg-Cement shares lost 4.6 percent in value. Disappointed by a weak outlook for the second quarter, investors also jumped off Varta. The battery manufacturer’s papers fell by nine percent.
In the real estate sector, after Corestate Capital, another company is experiencing turbulence. Instone’s share price fell 16.4 percent after the real estate developer scaled back its annual targets under the influence of the Russian war of aggression.
Wall Street stock markets continued their negative trend. Of the Dow Jones was listed 0.7 percent lower at 31,615 points in the middle of trading. After the gloomy forecast of an important supplier, Apple shares expanded their previous day’s losses by 1.7 percent. Foxconn, the world’s largest contract electronics manufacturer, expects a pause in growth due to stagnating demand. Walt Disney was one of the losers. The entertainment group’s titles fell by almost two percent to a two-year low due to a quarterly result below market expectations