Stock exchange in Frankfurt - Dax almost unchanged at the start of trading
After a mixed start to the new stock market year, prices on the German stock market barely moved on Wednesday. In early trading, the Dax stood still at 16,770 points. This means that the leading index remains below the record high of over 17,000 points reached in mid-December. The MDax of 50 mid-cap stocks fell slightly by 0.2 percent to 26,789 points.
Price losses on the US technology exchange Nasdaq proved to be the main drag. The previous evening, the Nasdaq 100 Index had slipped to its lowest level since mid-December. However, the index had also previously performed strongly.
"Obviously, investors are not too willing to take risks at the start of the year. The majority are apparently trying to get into the market at lower prices," wrote analyst Thomas Altmann in the morning, referring to the weakness of US tech stocks. The start to 2024 on Wall Street had "gone really wrong".
After the close of trading here in Germany, the minutes of the Fed's latest interest rate meeting could be worth a look in the evening. In mid-December, the Fed held out the prospect of interest rate cuts. Many observers are already expecting lower key interest rates for the meeting in March. The markets will therefore be analyzing the wording of the minutes for indications of future monetary policy.
As at the start of the year, there is calm among individual stocks. A recommendation from the investment bank JPMorgan for BMW shares caused the share price to rise by 0.6 percent.
Investors reacted cautiously to a possible acquisition of Airbus, with the share price falling slightly. The aircraft manufacturer wants to secure the cyber security and data division of the struggling French IT service provider Atos for a sum in the billions. However, the talks are still at an early stage.
In the MDax, Nordex shares were among the biggest gainers, up 1.6 percent. They benefited from a major order for the wind turbine manufacturer.
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The city of Frankfurt, known as 'Frankfurt on the Main', is home to a significant stock exchange. During the start of the new stock market year, the Dax, a leading index in Frankfurt, Germany, remained relatively unchanged at around 16,770 points. Despite a slight drop in the MDAX, which includes 50 mid-cap stocks, the main issue influencing prices was the performance of the US technology exchange NASDAQ's Nasdaq 100 Index. Analysts suggested that investors were being cautious at the beginning of the year, preferring to enter the market at lower prices. The potential acquisition of Airbus's cyber security and data division from Atos also affected the share prices in the market. The Nasdaq-100 index had previously shown strong performance, but had dipped to its lowest level since mid-December on the previous evening. This move was largely responsible for the overall subdued start of trading on the German stock market, including the Frankfurt Exchange.
Source: www.stern.de
