Dax drops sharply after rate hike in the US | Free press

Frankfurt am Main.

Dax fell again Thursday. At the beginning of trading, the leading German index, after rebounding the previous day, recorded another low since March.

He recently lost 1.84% to 13,238 points. The MDax lost 2.18 percent to 27,178 points. The leading euro area index, EuroStoxx 50, fell 1.7%. Nervousness remains high, indirect price increases are quickly used for sell-offs.

The Fed raised yesterday interest rates in the US by 0.75 percentage points, slightly more than initially expected by most experts. But some thought that even more than this, the biggest rate hike since 1994, was possible. The Fed has been battling with the highest inflation in 40 years. In New York, the stock exchanges reacted very positively, in Asia shopping centers recorded losses on Thursday.

Online fashion retailers have found themselves in the limelight following the downgraded Asos forecasts and the disappointing Boohoo interim report. This put a lot of pressure on the titles of the German competitor Zalando. The securities fell to the bottom of the Dax index to its lowest level since February 2019 and recently lost 10.5%.

Changes in the indices have transferred the stocks of the companies concerned. Wind turbine manufacturer Nordex shares will be removed from SDax and TecDax, giving Nordex a receipt for delayed quarterly data transfers. Shares fell 1.4 percent, and the Colombian order likely counteracted the throwing of indices.

SMA Solar Technology increased by four percent. In the tech stock index, the shares of the solar technology producer are replaced by Nordex. In turn, the specialist pharmaceutical company Medios returns to the index of smaller stocks, from which it fell only in September last year. Medios has recently moved up a good two percent.

Südzucker increased its profits from the previous day by 3.6 percent. Warburg Research analyst Oliver Schwarz withdrew his sales recommendation and thus responded to the increased targets for this year, largely due to the excellent development at CropEnergies. (dpa)

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