Frankfurt / Main (dpa) – After winning at the start of the week, the Dax fell back on Tuesday morning. The German benchmark index increased its losses in early trading and was most recently 0, 71 percent lower at 15. 463, 41 points.
Economic data such as the brighter GfK consumer climate fizzled out, and the general election is also considered ticked off on the market. On the other hand, concerns are growing again: Stock marketers cited the impending containment of the loose monetary policy as a negative factor. For a few days now, the Dax has been hovering between 15. 500 and 15. 700 points after being down to almost 15. 000 points had slipped.
Even in the back rows of the stock market things went downhill on Tuesday morning. The MDax of the medium-sized stock market values lost minus 1, 21 percent to 34. 847,41 Counter. The situation was similar on the European stock exchanges: The EuroStoxx 50 as the leading index of the Eurozone was down by 1, 26 Percent to 4112, 87 points after.
In addition to the sentiment data, investors are looking at speeches by leading central bankers such as Christine Lagarde , Head of the European Central Bank, and Jerome Powell, President of the US Federal Reserve. Although the monetary authorities view rising inflation as a temporary phenomenon, Michael Hewson of CMC Markets says their concern is growing. In the morning he pointed out that Fed Chairman Powell had not ruled out interest rate hikes in a pre-prepared remark for an appearance before the Senate Banking Committee, should the inflation rate be more sustained than expected.
On the corporate side those values that are considered the winners of the Corona crisis were under pressure. In the Dax, shares in the laboratory supplier Sartorius continued their downward slide for the third day in a row, slipping almost 3.8 percent downhill. The cook box mail order company Hellofresh lost 2.2 percent and the food supplier Delivery Hero 1.5 percent. Medical stocks such as Merck and Qiagen lost similarly strong.
The sporting goods manufacturers were among the losers: Adidas and Puma recorded a minus of 1.7 and 1.5 percent, respectively.
A raised sales target for About You for the year attracted investors to the shares of the online fashion retailer, which rose by more than two and a half percent. The key data also presented for the second quarter of the business year were also better than expected, according to a trader. For software companies such as Nemetschek, Compugroup and Software AG, things went between 2 and 4 percent downhill.
Beiersdorf shares were also on the sales slips according to a pessimistic analyst vote. Bernstein analyst Bruno Monteyne lowered his vote to “underperform” and referred to the pressure on margins at the consumer goods manufacturer, which is likely to increase.