2024-01-03 20:15:55
Frankfurt/Main.
The German stock market fell sharply on Wednesday for the first time in months. After a cautious start, the DAX accelerated its downward trend in the afternoon and temporarily fell below the 16,500 point mark. The continued weakness of US stock markets was a burden. Profits were taken there after the strong year-end rally, which also dampened the mood on Europe’s stock markets.
Ultimately, the DAX lost 1.38 percent to 16,538.39 points after narrowly missing another record high the day before. The MDax of the 50 medium-sized stock exchange stocks ended the day with a loss of 2.18 percent to 26,252.13 points. Things were hardly different across Europe. The Eurozone leading index EuroStoxx 50 lost 1.43 percent to 4448.13 points, and the stock exchanges in Paris and London also fell. In the USA, where the Nasdaq technology exchange in particular had fallen sharply the day before, things have also recently continued to decline.
The weakness of the technology-heavy US stock exchange Nasdaq since Tuesday has also weighed on sentiment for technology stocks here. Infineon lost 3.8 percent in the DAX. Aixtron lost 4.1 percent in the MDax.
Deutsche Telekom’s shares gained 1.5 percent at the top of the DAX. On the one hand, the weak overall market helped them, as they then mainly turned to defensive stocks, i.e. less dependent on the economy. On the other hand, the start of the announced multi-billion dollar share buyback program gave a boost.
Investors reacted negatively to a possible purchase of Airbus. The share lost 3.0 percent. The aircraft manufacturer wants to secure the cybersecurity and data division of the ailing French IT service provider Atos and values it at 1.5 to 1.8 billion euros, including debt.
On the foreign exchange market, the euro extended its recent losses. The common currency was last quoted at 1.0909 US dollars. The European Central Bank set the reference rate at 1.0919 (Tuesday: 1.0956) dollars. The dollar therefore cost 0.9158 (0.9127) euros.
Prices on the bond market recovered somewhat. The Rex bond index rose by 0.10 percent to 127.08 points. The current yield fell from 2.11 percent the day before to 2.08 percent. The Bund future recently rose by 0.37 percent to 137.25 points. (dpa)
More reading comfort even when you’re on the move E-paper and news in one app Push notifications throughout the day
No thanks. Continue in this view.
#DAX #significant #losses #time #months