Frankfurt / Main (dpa) – The German stock market got off to a weaker start to the week. After hardly any movement over long stretches of the trading day, the Dax came under pressure in the late afternoon in the wake of significant losses on the US stock exchanges.
Ultimately, the German benchmark index lost 0, 79 Percent on 15. 036, 55 points and thus linked to his minus of almost two and a half percent from the previous week. For the MDax of the medium-sized stock market values on Monday it was 0, 95 percent to 33. 830, 17 Points down.
For the steep decline on Wall Street, stockbrokers blamed the further rise in oil prices. The price of US crude oil rose to its highest level since 2014. The oil production group Opec + had previously announced that it would only increase its daily production slightly despite high demand and scarcity on the world market. Media reports and analyst comments had suggested the possibility of a higher increase.
The other leading European exchanges also went down at the beginning of the week. The leading euro zone index EuroStoxx 41 fell by 0. 96 percent 3996,41 Points. The Parisian Cac 40 lost 0, 61 Percent and the London FTSE 100 slipped by 0, 23 percent off. In New York, the Dow Jones Industrial was most recently in the red with 1.0 percent.
In addition to the high oil prices, there was also the impending collapse of the more than 300 Billions of dollars in debt to Chinese real estate giants Evergrande a main topic of conversation. Evergrande shares were suspended from trading on the Hong Kong stock exchange.
Otherwise, analyst comments at the beginning of the week caused movement. The shares of the sporting goods company Adidas suffered in the Dax under a skeptical study by Bank of America and fell by 2.3 percent. Analyst David Roux referred to the uncertain recovery of the Chinese sales market and the problems with the supply chains.
Among the bottom of the list in the MDax, the shares in Nemetschek lost 3.9 percent after the Metzler bank recommended buying had painted the papers. With a look at the share price of the construction software specialist, it was time for a respite, wrote analyst Holger Schmidt.
At the end of the index, the papers of Befesa buckled by almost 6 percent. Kepler analyst Olivier Calvet sees rising energy costs as a problem for the recycling specialist. The headwind will be particularly strong in the coming year because the rise in natural gas prices will depend on processed aluminum and zinc.
The shares of Adler Group attracted attention in the SDax small cap index. After the share certificates had soared by almost 17 percent, there was ultimately only a plus of 2.6 percent to book. The real estate company may be facing a major realignment and could sell parts of its housing portfolio.
The euro was last traded at 1. 1622 US dollars. The European Central Bank had set the reference rate in the afternoon at 1. 1636 dollars.
On the bond market, the current yield rose from minus 0. 31 percent on Friday to minus 0, 30 percent. The Rex bond index rose by 0, percent to 144, 64 points to. The Bund future fell by 0, 09 percent to 170,18 Points.