Frankfurt / Main (dpa) – The worries about the worsening crisis in the Chinese real estate group Evergrande have increased to 40 values since this Monday Dax heavily burdened.
The German benchmark index slipped to a low since mid-May and recently lost around three percent to 15. 030, 33 Counter. The risks to China combined with a reluctance to buy before the monetary policy signals from the US Federal Reserve this week resulted in a toxic mix on the stock market expect a gloomy start to the week. Since the DAX record in August, economic pessimism has been growing in the markets.
DAX euphoria has fizzled out
It must now be seen how the reactions and assessments of the US Investors fall out on the events around Evergrande and the further course of trading is likely to depend on this, said market expert Andreas Lipkow from Comdirect. In any case, the euphoria of the Dax redesign had already fizzled out on the first official trading day with 40 members. Of the ten new faces on the Dax, the Franco-German aircraft manufacturer Airbus is also a new index heavyweight. Airbus has lost 3.9 percent so far.
Also that from 60 to 50 Values reduced MDax of the medium-sized stock market values fell significantly at the beginning of the week. In the afternoon he got 2, 12 percent lower on 34.543,29 Points. The European benchmark index EuroStoxx 50 dropped by 2, 84 percent to its lowest level since the end of July 4013, 69 points.
In addition to commodity stocks, banks were among the biggest losers across Europe in the very weak market environment. In the Dax, Deutsche Bank was at the bottom with minus 6.6 percent, in the MDax the Commerzbank papers posted an even higher discount with 8.2 percent. The concern that the Evergrande crisis is spreading is the main reason for the price slide in Europe, said analyst Neil Wilson of Markets.com. Recently, several rating agencies had further downgraded Evergrande’s creditworthiness and warned of payment defaults. “The fear of the next real estate crisis is currently great,” added Christian Henke from broker IG.
The MDax also focused on Lufthansa. The airline is setting the course for the repayment of the German state aid with a capital increase. After initial price losses, the papers were recently listed at plus 0.6 percent. Ultimately, investors gave higher weight to the fact that the airline would reduce its dependence on the state and gain more room for maneuver Percent down.
The euro expanded its losses from last week and cost 1. 1708 US dollars in the afternoon. The European Central Bank (ECB) had set the reference rate on Friday at 1. 1780 dollars.
On the bond market, the current yield fell from minus 0. 35 percent on Friday to minus 0, 38 percent. The bond index Rex rose by 0, 02 percent to 145, 02 Points. The Bund future rose by 0, 43 percent to 171, 77 Points to.