Frankfurt Stock Exchange
Weak specifications end Dax recovery
The Dax is the most important stock index in Germany. Photo: Fredrik von Erichsen/dpa
© dpa-infocom GmbH
The most recent recovery phase in the Dax ended on Tuesday morning for the time being. The leading German index slipped further in the morning and was most recently down a good 2.3 percent at 13,603.93 points.
The most recent recovery phase in the Dax ended on Tuesday morning for the time being. The leading German index slipped further in the morning and was most recently down a good 2.3 percent at 13,603.93 points.
High losses in technology stocks on the overseas stock exchanges caused renewed growing caution among investors. In addition, there are no signs of progress in the negotiations on the Ukraine war.
With the current losses, the profits of the previous day are completely gone. The hope that the warring parties would come closer had given the Dax a strong start to the week the day before. The leading German index even briefly approached the 14,100 point mark.
Stockbrokers referred to the weak specifications from the overseas stock exchanges as a stress factor. A sell-off in China is hitting technology stocks in particular due to the Chinese government’s proximity to Russia, and on Wall Street the tech-heavy Nasdaq 100 had slipped to its lowest level since May 2021 the previous evening.
The broader stock market in Germany and the European stock exchanges are currently suffering from this: the MDax of medium-sized German companies was recently down 1.01 percent at 30,218.94 points. The Eurozone leading index EuroStoxx 50 fell by 1.37 percent to 3689.82 points in the morning.
Fraport shares were at the top of investors’ sales lists at a discount of more than nine percent. A record dividend from Wacker Chemie, on the other hand, attracted investors, the papers climbed another high since January and were recently listed as one of the MDax favorites with a plus of more than three percent.
In the Dax, the few winners in the morning were limited to wafer-thin price premiums. As one of the index favorites, Deutsche Börse benefited from a buy recommendation. A canceled buy vote, on the other hand, threw the Heidelbergcement shares, which had recently run strongly, down almost four and a half percent to the end of the index.
The general tech weakness weighed on Infineon in Germany with a minus of around four percent. The other chip and software stocks such as Siltronic, Compugroup, Software AG and Nemetschek saw discounts of well over two percent. S&T stood out in the back rows with a price jump of almost 13 percent. According to an investigation by the auditing company Deloitte, the IT service provider sees itself almost completely relieved of the allegations by the financial investor Viceroy.