Suche
Mein Konto
Stock market stagnates: DAX closes almost unchanged
Current market analysis: DAX closes slightly in the red after May Day - details on stocks, economic data and interest rate decision. Stay informed.
Stock market stagnates: DAX closes almost unchanged
The German stock market showed little movement on Thursday after May Day. Investors were looking for clear signals, especially with regard to the US interest rate decision and the upcoming US labor market report. Uncertainty about future developments weighed on market movements, while new economic data from the Eurozone did not provide clear buying arguments. The Dax hovered around its previous day's level and closed with a slight minus of 0.20 percent at 17,896.50 points. The MDax recorded a decline of 0.05 percent to 26,252.41 points.
In a European comparison, other leading stock exchanges experienced greater fluctuations. The EuroStoxx 50 fell 0.6 percent, while the CAC 40 in Paris posted a loss of 0.9 percent. In contrast, the FTSE 100 in London gained 0.6 percent. At the close of trading in Europe, the Dow Jones Industrial Index in New York was around 0.5 percent higher.
US Federal Reserve Chairman Jerome Powell dampened expectations of impending interest rate cuts midweek, saying it may take longer for the Fed to gain confidence in a decline in inflation. However, he also pointed out that the next interest rate move could even be an increase.
On the German stock market, Bayer shares topped the Dax with an increase of 2.9 percent. Current legal disputes in the USA caused movement as a court ruling against the chemical and pharmaceutical company was overturned. In contrast, MTU shares recorded a price decline of 2.8 percent after investors took profits from the positive quarterly results.
Hugo Boss initially got off to a strong start, but had to accept losses of 6.9 percent due to cautious statements made by its chief financial officer about its China business. Borussia Dortmund, on the other hand, recorded an increase of 5.1 percent after a successful game against Paris Saint-Germain, which means an optimistic development for the football club. At the end of the trading day, the euro was trading at $1.0704. In the bond market, the current yield remained unchanged at 2.59 percent, while the Bund future rose by 0.45 percent.