Frankfurt / Main (dpa) – The Dax gave in moderately on Monday. The Ifo business climate, which signaled a weaker business outlook, also put pressure on investor sentiment for a short time.
By the afternoon, the leading German index had lost 0.38 percent to 15,610.04 points. The MDax fell 0.25 percent to 35,075.41 points. The leading Eurozone index EuroStoxx 50 fell by 0.27 percent.
With minus 3.1 percent, the shares of the residential property company Vonovia Dax were at the bottom, while Deutsche Wohnen topped the index with plus 1.5 percent. The second attempt to take over Deutsche Wohnen also failed because the targeted minimum acceptance threshold of 50 percent was not reached.
The European raw materials sector continued its strong recovery. Since the interim low seven days ago, when high corona fears had also caused growth concerns, the industry index has now risen by 9 percent, and thus back to the level at the beginning of June.
Salzgitter recently gained 4.1 percent and even climbed the highest level since 2019. The paper of the copper group Aurubis approached its latest record and most recently gained 2.0 percent. Thyssenkrupp gained 2.8 percent. Experts from Goldman Sachs and Jefferies had recently expressed further optimism for the steel industry.
The euro was mostly below the $ 1.18 mark and then cost $ 1.1787 in the afternoon. The European Central Bank set the euro reference rate on Friday at $ 1.1767.
On the bond market, the current yield fell from minus 0.47 percent on Friday to minus 0.49 percent. The Rex bond index rose 0.09 percent to 146.18 points. The Bund future fell by 0.01 percent to 175.93 points.