Dax gives way – selling pressure increases towards the end of trading

Frankfurt / Main (dpa) – The Dax slipped more into the red in late trading on Wednesday. With minus 0, 68 percent to 15. 616, 00 The German leading index went out of the day. The weekly profit accrued so far is as good as consumed.

For the MDax of the 50 medium-sized stock market stocks stood at the close of trading even stronger minus of 1, 15 percent to 35. 449, 10 Points on the course board. This was also his daily low.

The economic outlook for Europe now seemed increasingly uncertain, noted analyst Michael Hewson of the trading house CMC Markets UK. In the middle of the week, weak economic data from China had further fueled the simmering economic worries. The world’s second largest economy is again increasingly suffering from the consequences of the corona pandemic in retail and industry.

Also the leading index of the Eurozone, the EuroStoxx 50 closed lower with 1, 08 percent 4145,94 Points. The Cac 40 in Paris lost just as much. The London FTSE 100 only gave way slightly. At the close of trading in Europe, the Dow Jones Industrial in New York was quoted 0.2 percent higher.

The supply chains of the textile and luxury goods industry occupied the investors of fashion and sporting goods companies on Wednesday. The shares of Adidas had recently been weighed down by concerns that the sporting goods industry could not meet the high demand due to disruptions in the supply chain. On Wednesday, the Adidas titles fell by almost three percent at the end of the Dax. Hugo Boss came in last in the MDax with minus 4.2 percent. Price losses of the textile chains Inditex and Hennes & Mauritz (H&M), each according to the figures, had an additional negative effect. Apple had not announced any new Airpods the day before its product presentation, for which Varta has so far been known as a supplier of button cells another million order. At the end of trading, the plus was almost completely melted back to 0, 05 percent.

The euro was last traded at 1. 1811 US dollars. The European Central Bank (ECB) had set the reference rate in the afternoon at 1, 1824 (Tuesday: 1, 1814) dollar, the dollar thus 0, 8457 (0, 8465) Euro.

On the bond market, the current yield fell from minus 0. 38 percent on the previous day to minus 0, 40 percent. The Rex bond index rose by 0, 05 percent to 145,14 Points. The Bund future fell by 0. 18 percent to 171 ,40 Points.

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