A slightly lower inflationary pressure in Germany at best saved the Dax from an even bigger setback on Wednesday afternoon.

A slightly lower inflationary pressure in Germany at best saved the Dax from an even bigger setback on Wednesday afternoon.

The leading German index recently lost 1.43 percent to 13,042 points after temporarily trading below 13,000 points before the data was published. The MDax of medium-sized stocks fell by 2.49 percent to 26,444 points. The Eurozone leading index EuroStoxx 50 was 0.9 percent lower.

Inflation in Germany slowed somewhat in June. According to an initial estimate by the Federal Statistical Office, consumer prices were 7.6 percent above the level of the same month last year. Experts had expected an average of 7.9 percent.

Shares in European real estate companies came under significant pressure after a negative analyst study by Bank of America. The corresponding sector index Stoxx Europe 600 Real Estate was the weakest in Europe with a discount of 4.1 percent. On the German stock market, for example, Vonovia lost 2.7 percent in the Dax and Aroundtown lost 6.5 percent in the MDax.

The shares of Deutsche Börse benefited from statements at a capital market event with a plus of 0.6 percent. As expected, the stock exchange operator confirmed the goals for 2022 and 2023, the details of the presentation at the event were well received. At the bottom of the leading index were the titles of the agrochemical and pharmaceutical group Bayer with minus 3.4 percent and the advantages of Volkswagen with minus 3.2 percent.

The euro cost 1.0521 US dollars in the afternoon. The ECB had set the reference rate at $1.0561 the day before. On the bond market, the current yield fell from 1.51 percent on the previous day to 1.49 percent. The Rex pension index rose by 0.02 percent to 132.01 points. The Bund future gained 0.34 percent to 145.85 points.