Börse Express – ROUNDUP/Aktien Frankfurt opening: Weak specifications end Dax recovery

FRANKFURT (dpa-AFX) – The recent recovery phase in the Dax
ended on Tuesday morning for the time being. The leading German index slipped further in the morning and was last down 2.26 percent at 1314.72 points. High losses in technology stocks on the overseas stock exchanges caused renewed growing caution among investors. In addition, hopes for progress in the negotiations on the Ukraine war have not materialized so far.

With the current losses, the gains of the previous day have been completely erased. This hope for a rapprochement between the warring parties had given the Dax a strong start to the week the day before. The leading German index had even briefly approached the 14,100 point mark and had recovered by a good 13 percent since the previous crisis low in the Ukraine war a week ago at 12,438 points. However, the news situation is “simply not good enough” to overcome the psychologically important mark of 14,000 points, stated Thomas Altmann from asset manager QC Partners on Tuesday morning.

Stockbrokers referred to the weak specifications from the overseas stock exchanges as a stress factor in the morning. A sell-off in China is currently hitting tech stocks in particular due to the Chinese government’s proximity to Russia, and on Wall Street was the tech-heavy Nasdaq 100 slipped to a new low since May 2021 the previous evening.

The broader stock market in Germany and the European stock exchanges are currently suffering from this: the MDax of medium-sized German companies was 1.01 percent down at 30,218.94 points. For the Eurozone leading index EuroStoxx 50 it went down in the morning by 1.37 percent to 3689.82 points.

There is also little relief with regard to the Ukraine war. While fighting continues with many dead, negotiations between Ukraine and Russia on a ceasefire have not progressed. Meanwhile, the pending interest rate decision by the US Federal Reserve is already casting its shadow. Due to the high inflation, the first interest rate hike in the USA since the beginning of the corona pandemic is firmly expected in the middle of the week.

Away from geopolitics and economic policy, a few companies with numbers were in view on the German stock market in the morning. FraportShares were at the top of investor lists at a discount of more than nine percent. The airport operator returned to profitability last year and expects further recovery. However, the outlook is disappointing, especially with regard to operating profit, wrote JPMorgan analyst Elodie Rall.

A record dividend from Wacker Chemie on the other hand, attracted investors, the papers climbed another high since January and were last listed as one of the MDax-Favorites with more than three percent plus.

In the Dax, the few winners in the morning were limited to wafer-thin price premiums. The German Stock Exchange
As one of the index favorites, it benefited from a buy recommendation from the French bank Exane Paribas. A canceled buy vote by the analysts at Morgan Stanley, on the other hand, threw the Heidelbergcement shares, which had recently run strongly with almost four and a half percent minus at the end of the index.

The general tech weakness weighed on Infineon in this country
with around four percent minus. For the other chip and software values ​​like Siltronic Compugroup
Software AG and Nemetschek
there were discounts of well over two percent. S&T stood out in the back rows of stock exchanges with a price jump of almost 13 percent. According to an investigation by the auditing company Deloitte, the IT service provider sees itself almost completely relieved of the allegations by the financial investor Viceroy./tav/stk

 ISIN  DE0008469008  EU0009658145  DE0008467416

AXC0160 2022-03-15/10:21

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