The Dax has stabilized somewhat after the recent sell-off. The fear of the consequences of the global spread of the corona virus continued to weigh on the German stock market on Wednesday, but the stock market barometer almost offset initial losses of more than 3 percent. In the end, there was a minus of 0.12 percent at 12,774.88 points.
Positive impetus came from leading Wall Street, where investors picked up stocks again after the recent price slide. The MDax of the medium-sized stock market also picked up noticeably and finally only dropped by 0.69 percent to 27 126.89 points.
With regard to the Dax, the experts from the stock market magazine Index-Radar spoke of an “overdue technical recovery”. But it is far too early to give the all-clear: “In the coming days, we expect sustained strong rashes in both directions.”
The Dax’s balance sheet since Thursday last week has been disastrous: in just five trading days, the leading index pulverized the profits of the previous four months. Due to the virus epidemic, he is now separated from the recent record high of 13,795 points by more than 1,000 points.
More and more countries around the world are reporting infections with the corona virus, such as Brazil, the Philippines and Algeria. More and more companies are putting their brakes on their forecasts for future business. Italy, meanwhile, fears that it will slip into recession due to the increasing number of infections.
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Accordingly, the uncertainty runs like a red thread through market analyzes and comments. “We don’t know when the virus can be contained or what measures the states are taking to get it under control,” said chief investor Mark Haefele of the UBS investment bank.
The Dax received support from automotive stocks this Wednesday. Volkswagen (VW), BMW, Continental and Daimler increased between 0.2 and 1.7 percent. Here, investors had again reached a low level after the European car sector had recently dropped to its lowest level since July 2016.
Lufthansa papers fluctuate significantly over the course of the day and closed 1.8 percent lower. The airline wants to cut costs because of the virus. Attitudes should be suspended or postponed, employees can now take unpaid leave.
As the bottom of the list in the small cap index SDax, Hypoport’s share certificates fell by more than 9 percent. The price of the credit and real estate platform had risen by around 60 percent since the beginning of October.
The leading index of the euro zone, the EuroStoxx 50, ended trading with a plus of 0.14 percent at 3577.68 points. Moderate profits were also posted on the Paris and London stock exchanges. In the US, the Wall Street index Dow Jones Industrial rose by around 1 percent at the close of European trade.
The current yield on the bond market fell from minus 0.49 percent the previous day to minus 0.50 percent. The Rex index rose by 0.09 percent to 145.46 points. The Bund future fell 0.07 percent to 175.92 points. The euro recently traded at $ 1.0888. The European Central Bank had previously set the reference rate at $ 1.0875 (Tuesday: 1.0840). The dollar thus cost 0.9195 (0.9225) euros / la / fba
– By Lutz Alexander, dpa-AFX –
Photo: anathomy / Shutterstock.com
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