FRANKFURT (dpa-AFX) – Burdened by disappointing business data from the US banking sector and weak Wall Street, the German stock market lost significant losses on Thursday. The purchasing sentiment was also not created by the fact that the European Commission expects record high inflation in the euro area in 2022 due to high energy prices.
Dax steadily increasing losses, falling below 12,450 points in late trading. Ultimately, the leading German index lost 1.85 percent. up to 12,519.66 points For MDax Midsize companies fell 1.95 percent to 25,005.51 points.
Other leading European stock exchanges also recorded clear losses. EuroStoxx 50 fell by 1.7 percent. The leading indices in Paris and London fell in a similar range. Dow Jones Industrial was listed on the New York Stock Exchange
1.0 percent down at the European close.
The largest American bank, JPMorgan he suffered just like competitor Morgan Stanley surprisingly sharp drop in earnings in the second quarter. JPMorgan also suspended a multi-billion dollar buyout of its own shares announced in April to meet higher capital requirements. The securities of both houses came under selling pressure.
Deutsche Telekom shares fell by 2.2 percent. The Bonn-based company sells 51 percent of its radio tower business to an investor duo consisting of Canadian financial investor Brookfield and US infrastructure investor Digital Bridge. Telekom estimated the value of GD Towers at EUR 17.5 billion excluding debt and cash. Previously, higher estimates circulated in the market, according to stockbrokers.
That Hugo Boss after a surprisingly good second quarter throughout the year, the fashion group’s share grew by 2.4 percent. This made them one of the biggest MDax winners. The figures and forecasts were highly appreciated by analysts. Michael Kuhn of Deutsche Bank questioned whether the new targets might still be too cautious.
Semiconductor stocks benefited from encouraging news from Taiwan Semiconductor Manufacturing Company (TSMC). The company, which is one of the world’s largest semiconductor manufacturers, posted surprisingly strong quarterly results and increased its sales prospects. Infineon lost in Dax as one of the best values of the index, only 0.6%, and in MDax it followed the papers of the manufacturer of technologically advanced machines Aixtron up to 1.2 percent
Otherwise, analysts’ comments caused price fluctuations. Some chemical stocks have suffered as a result of a negative industry survey by UBS. BASF has suffered at Dax 2.5 percent after a Swiss bank lowered the quotes and now recommends selling them. Quarterly figures from chemical companies are likely to be solid again, but they will quickly fade into the rearview mirror, analyst Andre Stott wrote. The industry is going through a difficult period due to the gas supply crisis and poor consumer sentiment. For Evonika Stott scrapped its buy recommendation, after which its share in MDax fell by 2.9%.
Nemetschek construction software provider recorded a price of minus seven percent. A negative study by Bank of America, which included an observation with a skeptical investment grade “Underperform,” apparently weighed more than the Morgan Stanley raise. For Software AG articles dropped 3.7 percent after Morgan Stanley issued an underweight recommendation.
The euro was recently selling for $ 1.0028. In the meantime, it has fallen well below par. The European Central Bank set the reference rate at USD 1,0005 this afternoon.
The current profitability of the German Bunds rose from 0.99%. the previous day to 1.09 percent. Rex retirement index fell by 0.62 percent. up to 134.80 points The future of the Bund
lost 0.36 percent. up to 152.37 points / edh/he
—- Eduard Holetic, dpa-AFX —
ISIN DE0008469008 DE0008467416
AXC0273 2022-07-14 / 18: 17
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