ROUNDUP / Aktien Frankfurt opening: inflation worries drag Dax down | news
FRANKFURT (dpa-AFX) – The Dax (DAX 40) abruptly canceled its recovery attempt from the previous day on Wednesday and slipped heavily into the red. Price losses in Asia and the ongoing inflation worries broke the German benchmark index in early trading a loss of 1.88 percent to 14 908.09 points. The stock market barometer is thus at its lowest level since mid-May.
The MDAX of medium-sized stock market stocks recently posted a minus of 1.47 percent to 33,521.85 points. The leading index of the Eurozone EuroStoxx 50 (EURO STOXX 50) lost 1.9 percent.
In Asia, the Japanese stock exchange was again showing significant losses. Concerns about plans of the new Japanese Prime Minister Fumio Kishida for a higher taxation of income and profits from investments would be burdened, so the market strategists of the Deutsche Bank. Fund manager Thomas Altmann from asset manager QC Partners added: “The Japanese stock market is experiencing its deepest sell-off in the post-pandemic era.”
Jürgen Molnar, capital market strategist at the trading house RoboMarkets, directed his gaze towards the USA: “On Friday, the labor market data are on the calendar, which, in addition to rising inflation expectations, should make their contribution to the answer to the question of when the US Federal Reserve will begin to tap the money slowly but surely close. “
Inflation expectations and thus interest rates are currently rising on the capital markets. Bank stocks, which are heavily dependent on interest rate business, benefit from this development. The Commerzbank papers gained around one and a half percent at the top of the MDax. Strongly growth-oriented industries such as the technology sector are among the sufferers due to rising financing costs.
In the Dax there were only losers on Wednesday. The shares of Deutsche Telekom (Deutsche Telekom) came under the strongest pressure, losing more than four percent to 16.83 euros. The reason for this was a financing transaction by major shareholder Softbank. The US investment bank Goldman Sachs placed around 90 million Telekom shares or corresponding options on the shares at 16.95 euros each with investors overnight for the Bloomberg news agency. Goldman Sachs has obtained access to the shares as part of a financing deal by Japanese technology investor Softbank. A Telekom spokesman said on Tuesday evening that Softbank would nevertheless continue to own the shares.
Bayer’s shares, however, braced themselves against the weak overall market and only yielded slightly. The agrochemical and pharmaceutical company, which has been wrestling with billions in glyphosate legal disputes for years, first won a lawsuit in the United States over alleged cancer risks of the weed killer./la/mis