FRANKFURT (dpa-AFX) – The attempt to recover the German stock market failed again on Wednesday. After initial gains, the flagship Dax index went into the red at the end of the day. The uncertainty surrounding the next quarterly results in the United States and the approach of the elections to the French National Assembly have dissuaded investors from buying shares. The French Cac 40 stock index fell more sharply than the Dax. The euro also came under renewed pressure.
The Dax closed down 0.12% at 18,155.24 points. He narrowly avoided falling below the round bar of 18,000 points. The mid-sized MDax lost 0.52% and closed at 25,335.92 points.
Like the day before, Airbus was the biggest loser on the Dax with a drop of 2.8%. The aircraft manufacturer has informed airlines that deliveries of ordered aircraft could be delayed over the next two years, the Bloomberg news agency reported, citing people involved in the matter. Observers say this could indicate that supply chain problems could extend well beyond this year.
Volkswagen lost 1.6% as auto stocks were generally weak. Wolfsburg intends to invest up to $5 billion in American electric car maker Rivian over the next few years. Analysts welcomed the move, but lamented the lack of details.
Shares of SAP and Deutsche Borse hit record highs. SAP ultimately gained 2.4 percent, while Deutsche Borse then went into the red, ultimately losing 0.3 percent. Investment bank Jefferies has issued a positive opinion on SAP stock.
Among small stocks, Delivery Hero fell 6.6% and Hellofresh 7.9%. The investment bank JPMorgan had issued a negative opinion on the food delivery sector.
The euro zone’s flagship index, the EuroStoxx 50, lost almost half a percent. Prices also fell in Paris and London. New York’s flagship index, the Dow Jones Industrial, and the technology-dominated Nasdaq 100 were down moderately at the close of the European stock market.
The euro continued to fall to settle at 1.0680 US dollars. The European Central Bank had previously set the reference rate at $1.0689 (Tuesday: 1.0714).
On the bond market, the current yield increased to 2.48% compared to 2.47% the day before. The Rex bond index fell 0.07 percent to 124.88 points. The Bund-Future lost 0.39 percent to 132.05 points in the evening./bek/he
— By Benjamin Krieger, dpa-AFX —
