Frankfurt am Main – Meanwhile, it’s already a hit for Dax investors if the minus isn’t too big.
Despite slightly lower inflation in Germany, the Dax posted heavy losses on Wednesday. But the 13,000-point score held up.
The main German index ended the day down 1.73% to 13,003.35 points. In the previous three trading days, he had embarked on a path of recovery.
The MDax of midsize stocks fell 2.72% on Wednesday to 26,380.85 points. Losses were also reported across Europe.
In the month of June, which was coming to an end, the fuel discount and the 9 euro ticket had somewhat slowed inflation in this country. Inflation slowed and consumer prices were 7.6% above the level of the same month last year. Inflation figures were also released in Spain. There, the already rapid rise in prices again accelerated sharply by 10.0 percent and thus more strongly than expected.
Due to high inflation in the euro area, the European Central Bank (ECB) is therefore under increasing pressure to raise interest rates, possibly even in larger increases. Curbing inflation by avoiding a recession is currently the central banks’ dilemma.
Real estate stocks are suffering from high inflation. The Stoxx Europe 600 Real Estate sector index closed with the largest discount among 20 sectors in Europe. In the Dax, for example, Vonovia lost 2.4% and Aroundtown in the MDax 6.5%.
The highest value of the Dax were the German stock exchange newspapers with more than 1.0 percent. They benefited from statements made during a capital market event. As expected, the stock trader confirmed his targets for 2022 and 2023 and convinced with the details.
Fresenius shares were up by 0.6%. Apparently, the healthcare group is exploring a merger of its clinical operations with a competitor. As reported by the Bloomberg news agency, citing informed circles, a merger is preferred. A sale to financial investors is not the preferred option.
At the end of the Dax, shares in plastics company Covestro, agrochemical and pharmaceutical company Bayer and automaker Volkswagen each closed with discounts of just over 4 percent.
Among the European exchanges, the main index of the euro zone, the EuroStoxx 50, ended the day down 0.99% to 3514.32 points, and the equity markets of Paris and London also lost. At the same time, the Wall Street Dow Jones Industrial Index and the high-tech Nasdaq 100 index in the US were up slightly.
The euro slid below $ 1.05 and was trading at $ 1.0472 earlier in the evening. The ECB set the key rate at 1.0517 (Tuesday: 1.0561) dollars. The dollar therefore cost 0.9508 (0.9469) euros. On the bond market, the current yield fell from 1.51 percent the previous day to 1.49 percent. The Rex Pension Index rose 0.02% to 132.01 points. The Bund’s future gained 1.00 percent to 146.82 points.