Frankfurt Stock Exchange
Dax loses – inflation and Putin’s statement depress courses
The Dax is the most important stock index in Germany. Photo: Fredrik von Erichsen/dpa
© dpa-infocom GmbH
Inflation forecasts and a new move by Russian President Vladimir Putin weighed on share prices on Wednesday. The Dax lost 1.31 percent to 14,283.65 points. The MDax of medium-sized stocks fell by 1.17 percent to 31,541.85 points.
Inflation forecasts and a new move by Russian President Vladimir Putin weighed on share prices on Wednesday. The Dax lost 1.31 percent to 14,283.65 points. The MDax of medium-sized stocks fell by 1.17 percent to 31,541.85 points.
In the morning, new inflation forecasts had already caused losses. 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. Statements by Russian President Vladimir Putin, according to which “enemy states” should pay for natural gas in rubles in the future, also weighed on the mood.
This affects customers in Germany and other EU countries. President Putin instructed the government to stop accepting payments in dollars or euros. “First of all, Putin is sending a political signal,” said analyst Ralf Runde from Landesbank Helaba. “Ultimately, it is probably a tit-for-tat response to the sanctions imposed by the West.”
There were strong price changes, especially for small and mid-caps. LPKF shares fell by almost 19 percent. After a loss last year, the laser specialist quickly canceled the dividend. The second biggest loser behind LPKF in the SDax of the smaller stocks was Auto1 with a loss of a good 12 percent. Investors reacted allergically to the online car dealer’s investments, which could be at the expense of profitability.
After the most recent recovery, Delivery Hero’s shares fell significantly under the wheels again at minus 6.3 percent. With a loss of a good 60 percent, they are the weakest value in the Dax in the current year. With Hellofresh and Zalando, two other former beneficiaries of the pandemic were under pressure on Wednesday.
Indus Holding shares fell by 2.6 percent. The holding company expressed caution about the current financial year. K+S shares rose by 4.4 percent at the top of the MDax. Because of the war in Ukraine, analysts expect high potash prices until 2023.
Across Europe, the stock markets were weak: the leading euro zone index, the EuroStoxx 50, fell by 1.45 percent to 3869.22 points. The French Cac 40 also came under pressure while the FTSE 100 in London contained losses.
The euro moved little and most recently cost 1.1005 US dollars. The European Central Bank (ECB) had previously set the reference rate at $1.0985. The dollar had thus cost 0.9103 euros.
On the bond market, the current yield fell from 0.34 percent on the previous day to 0.33 percent. The Rex pension index rose by 0.10 percent to 139.56 points. The Bund future gained 0.35 percent in the evening to 159.95 points.