Stock exchange in Frankfurt: Dax gives way – economy
After two strong days, the Dax gave way on Wednesday. Around noon, the German benchmark index was 0.59 percent lower to 15,719.93 points.
Frankfurt / Main – After two strong days, the Dax gave way on Wednesday. Around noon, the German benchmark index was 0.59 percent lower to 15,719.93 points.
The MDax of medium-sized companies lost 0.28 percent to 34,741.01 points in the middle of the week. The EuroStoxx 50, the leading index for the Eurozone, fell by half a percent.
Hellofresh were behind in the Dax with a minus of more than six percent. The reason is the forecast of the cooking box supplier for 2022, the adjusted operating profit (Ebitda) will be below the analysts’ expectations. The disappointment about this is likely to be greater than the joy of the simultaneous sales forecast, said a trader.
Infineon lost more than four and a half percent after two banks, JPMorgan and Morgan Stanley, downgraded the chip manufacturer’s papers. In the front in the Dax with an increase of 2.6 percent were the titles of the pandemic winner and laboratory equipment supplier Sartorius.
Reclassifications also affected chemical stocks again. So UBS canceled its buy recommendation for BASF. In return, she upgraded Evonik’s papers twice. BASF quickly fell by two percent in the Dax, while Evonik gained 1.3 percent in the MDax.
The hardware store group Hornbach Holding is somewhat more optimistic for the current financial year 2021/22, with robust demand. At the top of the SDax, Hornbach won almost nine percent.
Ceconomy came in last in the small cap index with a minus of more than ten percent. Baader Bank had doubled down the title of electronics retailer. Rising corona infection numbers slowed the reopening of business branches across Europe, wrote analyst Volker Bosse. The company is also affected by delivery bottlenecks, especially for consumer electronics from Asia.
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