The Dax struggled with further stabilization on Monday. The leading German index rose by up to 0.8 percent in early trading, but then lost momentum and gave up all of its opening gains. Concerns about the economy continue to weigh on the mood.
The Dax struggled with further stabilization on Monday. The leading German index rose by up to 0.8 percent in early trading, but then lost momentum and gave up all of its opening gains. Concerns about the economy continue to weigh on the mood.
Most recently, the Dax lost 0.12 percent to 12,797.56 points. Last Thursday, the stock market barometer fell to its lowest level since March, but has since recovered somewhat.
The MDax for medium-sized stocks also turned into the red and fell by 0.33 percent to 25,752.00 points. The leading eurozone index, the EuroStoxx 50, on the other hand, was still slightly up.
Overall, concerns about the economy continue to keep investors in suspense. The analysts at Landesbank Hessen-Thüringen wrote that the high inflation rates were already dampening consumer sentiment. In Europe, the looming gas shortage and other consequences of the Ukraine war and the associated sanctions would make matters worse.
Car stocks were among the losers in the Dax. Volkswagen (VW), BMW and Mercedes-Benz lost up to 1.7 percent. Chip shortages and supply chain problems continue to slow down the US auto market, and German manufacturers are also doing badly, as sales figures for the second quarter showed.
The clear bottom of the SDax small-cap index were the Shop Apotheke shares, which, according to a skeptical study by the Oddo investment company, fell by almost twelve percent and fell to their lowest level since mid-May.
