Stock exchange in Frankfurt - Dax falls slightly in pre-Christmas trading
With Christmas approaching, Dax investors took further profits on Thursday. The leading German index closed down 0.27 percent at 16,687.42 points. The MDax of medium-sized companies fell by 0.49 percent to 27,219.71 points.
In contrast to Wall Street, investors in Germany have been cashing in more frequently since the Dax record of 17,003 points in mid-December. However, there has been no major correction so far. Investors can therefore still look forward to an increase of around a fifth in the leading German index this year.
In the DAX, the chemical group BASF moved into focus in the afternoon with the news of the planned separation from its oil and gas business Wintershall Dea. The British oil company Harbour Energy wants to take over the business. The initial enthusiasm about the news quickly subsided. BASF shares left trading almost unchanged in percentage terms.
Commerzbank shares led the first stock market league with a price gain of 1.3 percent. The prospect of share buybacks in the near future drove the price up.
A buy recommendation by Keybanc analysts did not give the shares of laboratory services provider Sartorius any momentum. At the end of the Dax, they continued the weakness of the previous day, falling by 2.4 percent. However, they had made significant gains in the previous weeks.
Delivery Hero held the red light in the MDax with a loss of 10.9 percent. The shares of the food delivery company thus extended their recent losses. Analyst Jo Barnet-Lamb from UBS had already drawn attention to potential problems in the South Korean market in a study the previous day.
At the top of the MDax, the shares of wafer manufacturer Siltronic rose by 4.6 percent following a strong outlook from US semiconductor manufacturer Micron.
The euro rose and last traded at 1.0988 US dollars. In the afternoon, the ECB had set the reference rate at 1.0983 (Wednesday: 1.0944) US dollars and the dollar thus cost 0.9104 (0.9137) euros.
On the bond market, the current yield fell from 2.02 percent the previous day to 2.00 percent. The bond index Rex rose by 0.29 percent to 128.74 points. The Bund future was last quoted at minus 0.07 percent at 137.99 points.
Read also:
- Why there is still no EU funding for green Saar steel
- 3 billion Saar Fund is unconstitutional
- Lack of snow also opens up new opportunities for winter tourism
- Abrupt end to e-car subsidies
- Despite the falling Dax in pre-Christmas trading, Frankfurt's Exchange continues to be a significant location for investors, with companies like BASF listed on the DAX.
- The planned separation of BASF's oil and gas business Wintershall Dea has been in the spotlight, with British oil company Harbour Energy expressing interest.
- Frankfurt on the Main is not only famous for its stock exchange, but also for its renowned Christmas market, which attracts visitors from around the world during the winter season.
- In contrast to the positive performance of Wall Street, German investors have been selling off their shares, leading to a slight decrease in the Dax index.
- This Christmas season, BASF is hosting its annual Christmas party, a time for employees to come together and celebrate the holiday season, even amidst the bustling world of the stock exchange.
Source: www.stern.de
