2023-07-05 20:41:59
Frankfurt/Main.
The Dax suffered further losses on Wednesday. At the close of the market, the leading German index was down 0.63 percent at 15,937.58 points, slipping back below the 16,000 point mark. The MDax for medium-sized companies went down even more: It dropped 1.40 percent at 27,432.70 points from trading.
The Eurozone leading index EuroStoxx 50 ultimately fell by 0.92 percent to 4350.71 points. In Paris and London, the national indices also ended trading with losses.
The US markets, which were little moved after the holiday break, did not provide any tailwind for local share prices. On both sides of the Atlantic, investors tended to hold back a few hours before the minutes of the last US Federal Reserve meeting were published. Ultimately, economic data from the euro zone also hardly moved.
The minutes of the US Federal Reserve should give an indication of “how popular further interest rate hikes are in the rest of the year,” wrote analyst Jochen Stanzl from broker CMC Markets. In June, the Fed took its first break after ten interest rate hikes in a row, but at the same time left the door open for further monetary tightening this year.
Continental took the top spot in the Dax with a price increase of 3.4 percent. Stocks benefited from a positive rating from Exane BNP Paribas.
Real estate values were among the losers on the German stock market after the recent recovery: Vonovia shares in the Dax fell by 1.3 percent, and in the MDax TAG Immobilien and LEG fell by 2.9 and 1.2 percent, respectively.
Evotec was able to defend its top position in the MDax with a plus of 2.7 percent. A lucrative antibody order from the US Department of Defense for a US subsidiary helped the shares. For the Hanseatic company, the order is also an important step in winning customers for the relatively new production plant in the USA.
In the small-cap index SDax, leader Grenke stood out after positive data with an increase of 5.8 percent. Salzgitter papers, on the other hand, fell to their lowest level since the beginning of June after a skeptical analyst study. In the end, the minus was still 5.2 percent.
The euro recently fell slightly to 1.0862 US dollars. The European Central Bank (ECB) had previously set the reference rate at $1.0879.
On the bond market, the current yield fell to 2.51 percent from 2.55 percent the previous day. The Rex pension index rose by 0.08 percent to 124.11 points. The Bund future lost 0.32 percent to 132.76 points. (dpa)
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