Indices in this article
(further redundant word removed)
FRANKFURT (dpa-AFX) – In the Dax (DAX 30), the courses gave way on Wednesday afternoon. Before the inflation data expected on Thursday and the meeting of the European Central Bank (ECB), investors are clearly holding back. The risk of wanting to take something out before important events of the week is in the nature of investors, said analyst Jochen Stanzl of CMC Markets. On the positive side, however, there have been no major sales so far.
The German benchmark index temporarily rose towards 15,500 points, most recently it was 0.40 percent lower at 15,578.71 points. The MDAX was up 0.10 percent at 33,815.56 points. In percentage terms, the EuroStoxx 50 (EURO STOXX 50) was quoted unchanged.
Investors will keep a close eye on the inflation forecasts of the ECB and the inflation data from the USA on Thursday afternoon. With rising inflation in the wake of an improving economy and higher government spending, they fear a tightening of the Monetary policy by the central banks with a possibly earlier rate hike. This can damage the stock market as other asset classes become more attractive again.
During the corona pandemic, the USA relaxed its travel warning for American citizens to destinations such as Germany and dozens of other countries. Aviation and tourism stocks benefited from this. Lufthansa gained four percent in the MDax. The titles of the airport operator Fraport were even better with a plus of 5.7 percent.
The shares of the specialty materials and pharmaceuticals group Merck KGaA (Merck) were again on record course, they recently gained one and a half percent as the top value in the Dax. The papers of the plastics group Covestro came in last with a minus of almost three percent.
Among the small caps, a buy recommendation gave the Grenke shares (GRENKE) a boost, gaining one and a half percent. In a study published on Wednesday, analyst Gerhard Orgonas from Berenberg Bank was satisfied with the leasing specialist’s response to the allegations made by the short seller Viceroy in September. Looking at the fundamentals, the expert sees clear revaluation potential and considers the expectations to be conservative.
Heidelberger Druck (Heidelberger Druckmaschinen) plummeted by almost ten percent after the final annual figures and, according to dealers, a disappointing margin forecast by the printing machine manufacturer.
The euro was priced at $ 1.2194. The European Central Bank (ECB) set the reference rate on Tuesday afternoon at $ 1.2162. On the bond market, the current yield fell from minus 0.27 percent the previous day to minus 0.29 percent. The Rex bond index (REX total price index) rose 0.17 percent to 144.75 points. The Bund future gained 0.27 percent to 172.56 points./ajx/fba
— By Achim Jngling, dpa-AFX —