Dax gives way – inflation data drive investors on the defensive

Frankfurt / Main (dpa) – Investors remain nervous on the German stock market. The price recovery in the Dax after the most recent setback quickly collapsed on Thursday. The German benchmark index was in the afternoon with 0, 28 percent in the red at 15. 322, 24 Counters.

Investors have been worried about rising inflation and a simultaneous slower economic upswing for days. In Germany, inflation, fueled by high energy prices, exceeded the four percent mark for the first time in almost 28 years in September. With this, market observers see the danger of an imminent countermeasure by the European Central Bank (ECB) being confirmed again.

«The ECB feels uncomfortable in view of the price developments. This became clear at the last central bank meeting, ”wrote Thomas Gitzel, VP Bank’s chief economist, in a comment. “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 unthinkable. ”

The prospect of interest rate hikes by the central banks that may soon be imminent The Dax had stumbled the previous week and hit a multi-month low, followed by another major setback last Tuesday. Although buyers had repeatedly been found at the lower price levels, September, which was already a weak stock market month, lived up to its reputation. There are currently signs of a minus for the month. For the first time after the corona-related slump in spring 2020, the entire quarter could end with a negative sign.

The MDax is also heading for a negative monthly balance, which fell on Thursday afternoon Index of the medium-sized stock market values ​​by 0, 16 percent to 34. 447, 69 points back. The EuroStoxx 50 as the leading index of the Eurozone recently lost 0, 22 Percent on 4071, 09 counter.

Among the individual values ​​in the Dax, as recently, corona winners from the medical sector were particularly in demand. Shares in laboratory supplier Sartorius climbed 2.2 percent, Merck, Qiagen and Siemens Healthineers rose by more than one percent each RWE with a 2.2 percent discount and Eon with minus 1.3 percent. Higher interest rates increase the cost of financing your power plants, for example, but also your liabilities.

The share price of Baumarktholding Hornbach shot to a record high after the quarterly figures were presented, most recently a price increase of more than ten percent was on the display board . Here, the better than expected quarterly figures and even more optimism on the part of the Executive Board with regard to the annual forecast were convincing.

In contrast, Knaus Tabbert put investors on the run with a withdrawn annual forecast. The papers of the mobile home manufacturer collapsed to a low since August, most recently the minus was around six percent. The company is struggling with delivery bottlenecks due to the semiconductor lull and has to temporarily shut down production at two locations.

The euro fell below the mark of 1 on Thursday, 16 US dollars to their lowest level since July. In the afternoon, the common currency cost 1, 1589 US dollars. The European Central Bank (ECB) set the reference rate on Wednesday at 1. 1654 dollars.

On the bond market, the current yield remained at minus 0. 30 percent. The bond index Rex rose slightly by 0, percent to 144,41 Points. The Bund future fell by 0, 09 percent to 169,83 Points.

Related Articles

Back to top button