Dax loses 1.73 percent | Free press

Frankfurt am Main.

Despite slightly lower inflation in Germany, Dax posted heavy losses on Wednesday.

However, the mark of 13,000 points remained. The leading German index ended the day down 1.73 percent to 13,003.35 points. In the last three trading days, he has entered the path of recovery. The MDax midsize share fell 2.72 percent to 26,380.85 points on Wednesday. Losses have also been recorded across Europe.

In the month of June, which was drawing to a close, a discount on fuel and a € 9 ticket cut inflation in the country somewhat. Inflation slowed down and consumer prices were down 7.6%. higher than in the same month last year. Inflation data also appeared in Spain. There, the already rapid price growth accelerated again by 10.0%, ie stronger than expected.

Due to high inflation in the euro area, the European Central Bank (ECB) is under increasing pressure to raise interest rates, perhaps even in larger steps. Curbing inflation while avoiding recession is currently a central bank dilemma.

Real estate stocks are suffering from high inflation. The Stoxx Europe 600 Real Estate industry index closed with the biggest discount among 20 sectors in Europe. For example, Vonovia lost 2.4 percent at Dax and 6.5 percent at MDax at Aroundtown.

The highest value of Dax was the stocks of the German stock exchange with a plus of 1.0 percent. They took advantage of the statements made during the event on the capital market. As expected, the stock exchange operator reaffirmed its targets for 2022 and 2023 and convinced in detail.

Fresenius shares increased by 0.6%. The healthcare group appears to be considering combining its clinical activities with a competitor. According to the Bloomberg news agency, citing informed circles, a merger is preferred. Selling to financial investors is not the preferred option.

By the end of Dax, shares of plastics company Covestro, agrochemical and pharmaceutical company Bayer and car maker Volkswagen closed with reductions of just over 4 percent.

Among European stock exchanges, the leading euro zone index, EuroStoxx 50, ended the day down 0.99% to 3,514.32 points, and the Paris and London stocks also recovered. At the same time, the Wall Street Dow Jones Industrial index and the technologically advanced Nasdaq 100 index in the US both increased slightly.

The euro fell below USD 1.05 and was trading at USD 1.0472 in the early evening. The ECB set the reference rate at 1.0517 (Tuesday: 1.0561) dollars. The dollar thus cost 0.9508 (0.9469) euros. On the bond market, the current yield fell from 1.51 percent. the day before to 1.49 percent The Rex retirement ratio rose 0.02 percent to 132.01 points. Bunds contract gained 1.00%. up to 146.82 points (dpa)

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