Stock exchange in Frankfurt - Dax stagnates - Airbus again brings up the rear
The DAX closed 0.12 percentage points lower at 18,155.24 units. It came close to avoiding a fall below the round mark of 18,000 points during the day. The MDax of medium-sized companies lost 0.52 percentage points and closed at 25,335.92 points.
Airbus was the biggest loser in the DAX, as it had been the previous day, with a decline of 2.8%. The aircraft manufacturer informed airlines that deliveries of ordered planes could be delayed by up to two years, according to Bloomberg, citing sources familiar with the matter. This could be a sign that problems with the supply chains persist beyond the current year, observers noted.
Volkswagen lost 1.6%, and auto stocks were generally weak. Volkswagen plans to invest up to 5 billion US dollars in the US electric carmaker Rivian in the coming years. Analysts praised the move but criticized the lack of details.
SAP and Deutsche Börse shares reached new record highs. SAP gained 2.4% at the end, while Deutsche Börse subsequently turned negative and lost 0.3%. Jefferies, an investment bank, had expressed positive views on the SAP stock.
Delivery Hero fell 6.6% and Hellofresh dropped 7.9%. JPMorgan had expressed negative views on the food delivery sector.
The Eurozone leading index EuroStoxx 50 lost nearly half a percentage point. Paris and London indices also declined. The New York leading index Dow Jones Industrial and the technology-heavy Nasdaq 100 were moderately in the red at the European stock market close.
The Euro continued to decline and was worth 1.0680 US dollars at the end. The European Central Bank had set the reference rate to 1.0689 (Tuesday: 1.0714) dollars earlier.
At the bond market, the yield on the short-term rate rose from 2.47% the previous day to 2.48%. The Rex index fell 0.07 percentage points to 124.88 points. The Bund future lost 0.39 percentage points to 132.05 points in the evening.
- The stock market in Frankfurt am Main, Germany, home to the German Stock Exchange, witnessed a decline as the DAX closed 0.12 percentage points lower, nearing a fall below the 18,000-point mark.
- The US dollar's value against the Euro continued to rise, with the Euro worth 1.0680 US dollars at the end of the day.
- Bloomberg News reported that Airbus S. A. S., a significant player in the stock exchanges of the USA and Germany, was the largest loser in the DAX, with a decline of 2.8%.
- SAP, a leading German company, reached a new record high on stock exchanges, with Jefferies, an investment bank, expressing positive views on the SAP stock.
- The CAC 40 index in Paris and the leading index in London also declined, contributing to the Eurozone leading index EuroStoxx 50 losing nearly half a percentage point.
- The MDAX index of medium-sized companies in Germany closed at 25,335.92 points after losing 0.52 percentage points.
- Volkswagen, planning to invest up to 5 billion US dollars in the US electric carmaker Rivian, experienced a 1.6% loss, while delivery heroes and Hellofresh dropped 6.6% and 7.9%, respectively, due to negative views expressed by JPMorgan on the food delivery sector.
