Investors held back on Monday ahead of the eagerly awaited interest rate decisions in the US and the euro area this week. This was also reflected in the thin trading volume on the German stock market.
The trading day was “like the calm before the big storm”, summed up portfolio manager Thomas Altmann from QC Partners. Because before the interest rate decisions of the Fed on Wednesday and the ECB on Thursday, inflation data from the USA are also on the agenda on Tuesday. According to Altmann, investors will need strong nerves before things get quiet in the last week before Christmas.
The Dax ended the listless trade with minus 0.45 percent to 14,306.63 points. The MDax fell by 0.46 percent to 25,487.05 points. The EuroStoxx 50 closed down 0.53 percent at 3921.82 points, and losses were also recorded in Paris and London. In the US, the Dow Jones rose 0.8 percent at the close of trading in Europe.
Among the individual stocks in the Dax, Symrise stood out with a plus of 1.1 percent. A merger of enzyme specialists Novozymes and Chr. Hansen sparked the imagination of the food additive industry.
The euro was trading at $1.0529 early in the evening. The ECB set the reference rate at $1.0562. On the bond market, the current yield rose from 1.81 percent to 1.85 percent. The Rex pension index fell by 0.64 percent to 127.98 points. The Bund future rose in the evening by 0.06 percent to 140.46 points.
