After the latest winning streak, the German stock market left a little feathers on Wednesday. Sales remained low as most market participants had already closed their books, it said.
After the recent recovery rally, the German stock market suffered from profit-taking on Wednesday. the Dax fell by 0.7 percent to 15,852 points by the end of trading. Investors continued to worry about the rapid expansion of Omikron, said analyst Jeffrey Halley from brokerage firm Oanda. Since this variant of the coronavirus is apparently more contagious, but not more dangerous than the previously dominant delta variant, he does not expect any major setback for the global economy despite tightened pandemic restrictions.
Since many institutional investors have already closed their books for 2021, they are turning their attention to developments in the coming year. “We expect solid growth in the stock markets,” predicts John Vail, chief investment strategist at asset manager Nikko. “The more restrictive stance of the central banks and the possibility of moderate tax hikes in the US could adversely affect investment sentiment. Higher government spending and the global recovery of the economy and corporate earnings should more than offset this. The high dividend yield of the market should continue to attract domestic and international investors. “
There was hardly any price-moving company news in the middle of the week. Semiconductor stocks came under pressure in the wake of weaker US technology stocks. Infineon stocks were among the weakest DAX stocks with a loss of 1.3 percent. In Paris, ST Microelectronics was down half a percent. The shares of Deutsche Bank fell against the positive sector trend by 1.4 percent. In connection with the Euribor scandal, which took place several years ago, the financial supervisory authority Bafin sentenced the bank to a fine of EUR 8.66 million.
In contrast, the titles of Astra Zeneca, which were 0.5 percent more expensive in London, were in demand. The pharmaceutical company wants to work with the US company Ionis to develop and market a drug for the treatment of the rare disease transthyretin amyloidosis.
In the last trading days of the 2021 stock market year, US investors took it easy. the Dow Jones quoted 0.1 percent higher.