FRANKFURT (dpa-AFX) – Bad news about Airbus and Merck KGaA weighed on the Dax on Tuesday, in addition to their share prices. The flagship German index closed down 0.81% at 18,177.62 points. The rebound that began last week has thus been stopped for the moment.
Since the record of 18,892 points reached in mid-May, the trend has again been rather downward. But the 100-day moving average, an indicator of the medium and long-term trend, once again proved to be support for the Dax on Tuesday. The mid-cap MDax finally lost 0.92% to 25,467.36 points.
The euro zone’s flagship index, the EuroStoxx 50, ended the session down 0.3%. Prices also fell in Paris and London. New York’s flagship index, the Dow Jones Industrial, lost 0.7% at the close of the European Stock Exchange, while the technology-dominated Nasdaq 100 increased in the same proportions.
The reduction in the company’s targets led to a 9.5 percent drop in the price of Airbus, the bottom of the Dax, and also weighed on other stocks in the sector. The planemaker expects lower-than-expected operating profit due to an impairment of assets in the space sector and ongoing supply chain issues. Additionally, Airbus lowered its annual target for commercial aircraft deliveries and pushed back its monthly A320 production target by a year. MTU stock lost 3.5 percent following the news. According to investment bank Stifel, Airbus’ supply chain problems are having a negative impact on the engine manufacturer.
