Dax falls to its lowest level since May due to inflation worries

Released on 06.10. 2021

  • The Dax is the most important German share index. Photo: Arne Dedert

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Frankfurt / Main (dpa) – Weak guidelines from the Far East stock exchanges and inflation worries have put an end to the attempt at recovery on the German stock market.

The Dax fell late on Wednesday morning on the lowest level since May and recorded 2, 21 percent lower at 14. 842, 86 points. The day before, the leading German index had increased by more than one percent. The MDax of the medium-sized stock market values ​​was down on Wednesday by 2, 21 percent to 33. 271, 10 Points to be booked. The leading index of the Eurozone EuroStoxx 33 lost around 2.3 percent.

Analyst Christian Henke from Broker IG sees several negative factors for the stock exchanges: The financial difficulties of the real estate company Evergrande, the US budget dispute with an impending default by the US government and above all the increasing inflation concerns. “In view of rising energy prices, the rate of inflation is likely to persist at a high level. The Fed shouldn’t look at this for too long, ”believes Henke. Interest rate hikes would add fuel to the fire on the stock exchanges.

There were only losers on the DAX. The shares of Deutsche Telekom, which lost more than 5 percent, came under the greatest pressure. According to the Bloomberg news agency, the US investment bank Goldman Sachs placed around 90 million Telekom shares or corresponding options on the shares with investors overnight . This was done as part of a financing transaction by the Japanese technology investor and major telecommunications shareholder Softbank.

Bayer’s shares held up quite well at minus 0.8 percent, making them one of the best DAX shares. Values. The agrochemical company, which has been struggling with billions in glyphosate legal disputes for years, won a lawsuit in the USA over alleged cancer risks of the weed killer.

The steep decline in Grenke shares on Tuesday continued with minus 10, 5 percent continued. The day before, the IT leasing provider had lowered its forecast for new business after a slump in the third quarter. Some analysts reacted to this on Wednesday with negative comments and gradations.

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