Frankfurt / Main (dpa) – Investors on the German stock market remained nervous on Thursday. The Dax went 0, 68 percent lower at 15. 260, 69 Counters from the trade. The MDax with the medium-sized values lost 0, 41 percent to 34. 369, 69 Points.
Investors have been worried about rising inflation and a simultaneous slowdown in the economic upswing for days. The concerns were exacerbated by new inflation data.
In Germany, inflation in September was fueled by high energy prices for the first time in just under 28 years back exceeded the four percent mark. With this, market observers see the danger of an imminent countermeasure by the European Central Bank (ECB) being confirmed.
September lived up to its reputation as an already weak stock market month with a Dax monthly loss of 3.6 percent. The leading index thus also recorded the first weak quarter since the corona-related crash in spring 2020: it lost 1.7 percent in the past three months.
« The ECB is uncomfortable with price developments. This became clear at the last central bank meeting, ”wrote Thomas Gitzel, VP Bank’s chief economist. “With the recent rise in energy prices, the tone has already been set for the next interest rate meeting. An extension of the ECB’s pandemic emergency purchase program beyond March 2022 is currently out of the question Central banks had the Dax in the previous week near the 15 000 points to a multi-month low. It is true that more buyers had been found at this low price level. However, unlike previous setbacks, investors then found it difficult to buy again.
While the Dax turned down again on Thursday, some sectors were in demand among the individual stocks that had recently come under particularly pressure . These included above all the shares of corona winners from the medical sector. Shares in the laboratory supplier Sartorius, the pharmaceutical company Merck and the diagnostics company Qiagen followed their recovery from the previous day with gains of between one and 1.8 percent ailing utilities RWE and Eon with discounts of 2.8 and 1.4 percent. Energy companies are often avoided by investors when rising interest rates and thus higher financing costs become apparent. The same applies to real estate, where Vonovia’s shares fell by 2.2 percent.
The price of the Hornbach hardware store, on the other hand, shot to a record high after the quarterly figures were presented. In the end, there was an increase of 8.6 percent on the price board. The better-than-expected quarterly figures and even more optimism on the part of the Management Board with regard to the annual forecast were convincing here. The papers of the motorhome manufacturer fell 5.8 percent to a low for a month. The company is struggling with delivery bottlenecks and has to temporarily shut down production at two locations.
The Eurozone leading index EuroStoxx 50 lost 0, 79 percent to 4048, 08 Points. The Parisian Cac 40 lost 0.6 percent and the London FTSE 100 0.3 percent. In New York, the Dow Jones Industrial was last 0.9 percent in the red.
The euro fell below 1 on Thursday, 16 US dollars to their lowest level since 14 months. Most recently, the common currency cost 1, 1576 dollars. The European Central Bank (ECB) set the reference rate at 1, 1579 (Wednesday: 1, 1654) dollar. The dollar thus cost 0. 8636 (0, 8581) euros.
On the bond market, the current yield remained at minus 0. 30 percent. The Rex bond index rose slightly by 0, 000 percent to 144,41 Points. The Bund future fell by 0, 07 percent to 169,88 Points.