Suche
Mein Konto
Dax gives up almost all of its profits during trading
"The Dax gives up profits and breaks off recovery. Read the current developments on the German stock market. Source: WELT"
Dax gives up almost all of its profits during trading
On Wednesday, the Dax was able to give up almost all of the gains it had previously made during trading and thus did not confirm a recovery from the previous day. There was no support from the US stock exchanges in the afternoon, which led to the German leading index closing at 17,770.02 points with a minimal increase of 0.02 percent. Analyst Konstantin Oldenburger from CMC Markets commented that although the DAX is working on stabilizing itself, doubts are arising about its successful implementation, especially as criticism of the ongoing rally is becoming increasingly louder.
The MDax ended trading on Wednesday with a decline of 0.18 percent to 25,926.74 points. In New York, both the Dow Jones Industrial Average and the Nasdaq 100 recorded a decline of around half a percent each at the European market close after US Federal Reserve Chairman Jerome Powell dampened investors' hopes of imminent interest rate cuts and the uncertainties in the Middle East are also still present.
The EuroStoxx 50, the leading index of the euro zone, also closed slightly in the red of 0.06 percent at 4914.13 points, while the leading stock exchanges in Paris and London recorded moderate increases. At the individual stock level, Adidas posted a share price increase of 8.6 percent on positive guidance, while Continental struggled with a decline of 5.5 percent due to problems in the auto supply industry in the first quarter.
The shares of Carl Zeiss Meditec lost 5.3 percent in the MDax, due to Deutsche Bank's pessimistic expectations for the medical technology group's quarterly results. In the SDax, shares of Borussia Dortmund (BVB) rose by 4.8 percent after the team reached the semi-finals of the Champions League, while Varta in the small cap index fell again by 9 percent as the company announced after a share price fall that the internal restructuring concept might not be enough.
The euro was last traded at $1.0643, while the current yield on the bond market rose to 2.52 percent from 2.49 percent the day before. The Rex bond index fell by 0.17 percent to 124.51 points, while the Bund future rose by 0.07 percent to 131.46 points.