Stock exchange in Frankfurt - Dax continues to chase records - Merck clouds the picture
The DAX initially continued its record-breaking run on Wednesday after the opening of Xetra trading. Most recently, the leading German index gained around 0.1 percent to 16,544.16 points. Since its October low, the Dax has gained a good 13 percent. The MDax of medium-sized companies recorded a gain of 0.41 percent to 26,600.12 points on Wednesday. The Dax picture was somewhat clouded by a more than 13% drop in Merck KGaA shares following disappointing study data on a drug for multiple sclerosis.
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- Amidst the record-breaking performance of the DAX, Merck KGaA's shares experienced a significant decrease, dropping more than 13%, due to disappointing study results for a multiple sclerosis drug.
- Despite the DAX continuing its ascent and reaching new heights on the Frankfurt Stock Exchange, the performance of Merck KGaA, a prominent German company, negatively impacted the overall index.
- On Wednesday, Merck KGaA's shares saw a substantial drop on the Frankfurt Exchange, a blow for the German-based company as the broader market, including the MDAX and DAX, continued their record-breaking run.
- Merck KGaA, a key player in Germany's Frankfurt Stock Exchange, saw its shares plummet more than 13% following the release of dissatisfying results from a study on a potential treatment for multiple sclerosis, temporarily clouding the Dax's chase for new records.
Source: www.stern.de
