Frankfurt / Main (dpa) – The Dax did not get going on Thursday either. The German benchmark index was only able to make up for initial price losses for a short time in the course of trading and closed 0.32 percent lower at 15,472.56 points. The stock market barometer was burdened by price losses of the heavyweight SAP. The Dax has been more or less on the spot for a few days.
Thanks to price gains in software companies, the MDax of the medium-sized stock exchange companies managed an increase of 0.51 percent to 34,717.36 points on Thursday. In contrast, the minus signs dominated Europe-wide. “The stock markets continue the trend of choppy trading this week,” wrote market analyst Craig Erlam of Oanda trading house. Investors waited for the companies’ reporting season to continue.
Among the individual stocks in the Dax, the SAP shares initially benefited from details of the quarterly figures that had already been published before the mood shifted during the subsequent conference call. The papers slipped into the red and closed 3.2 percent lower at the end of the index. According to analyst Nicolas David from the investment house Oddo, the CFO of SAP had expressed himself “cautiously” about the margin development in the coming year.
In contrast, the Sartorius shares at the top of the Dax recovered from their latest setback with a plus of 4.3 percent. After the quarterly figures presented the day before by the laboratory service provider and pharmaceutical supplier, further positive analyst assessments have now followed. Michael Heider from Warburg Research wrote, for example, that the overall annual targets of the group can be achieved without any problems given the high number of incoming orders.
In the MDax, after the final figures were presented, Software AG’s papers rose 2.2 percent a little further from their lowest level since the beginning of June, which they had reached two days ago. On Tuesday they went down steeply after a disappointing outlook for the digital business. Now the US bank Goldman Sachs praised the strong inflow of funds and the development of the operating profit margin.
The shares of Amadeus Fire and Nemetschek reached record highs this Thursday. The construction software manufacturer’s shares continued their latest rally and ended up gaining more than four percent. Amadeus Fire’s shares went 0.6 percent higher after the IT industry recruiter raised its profit forecast for 2021 a second time this year.
The current high energy prices put pressure on numerous industrial, construction and raw material stocks. With a minus of 3.0 percent, the mining industry was by far the weakest in Europe. In this country, for example, shares in the steel sector in Thyssenkrupp, Klöckner & Co and Salzgitter lost between 1.8 and 3.4 percent. The papers of the industrial group Siemens fell in the Dax by 2.5 percent. Investors worried that rising energy costs could stifle global growth.
The leading Eurozone index EuroStoxx 50 fell by 0.39 percent to 4155.73 points. The stock exchanges in Paris and London also fell slightly. In the USA, the Wall Street Index Dow Jones Industrial was 0.3 percent lower at the close of trading in Europe.
The exchange rate of the euro rose: The European Central Bank set the reference rate at 1.1637 (Wednesday: 1.1623) US dollars. The dollar cost 0.8593 (0.8603) euros. On the bond market, the current yield remained at minus 0.22 percent. The Rex bond index rose 0.18 percent to 143.98 points. The Bund future recently fell by 0.14 percent to 168.37 points.