Interest rate fears fueled by US inflation data thwarted another Dax recovery attempt on Thursday. The leading German index fell abruptly into the red in the afternoon and lost 1.09 percent to 12,039.35 points. The MDax for medium-sized companies fell 1.79 percent to 21,502.97 points, and the leading eurozone index, the EuroStoxx 50, fell by a similar amount.
Although inflation in the USA is tending to decline, it is only declining slightly. Compared to the same month last year, consumer prices rose by 8.2 percent in September. Core inflation, excluding energy and food prices, even rose from 6.3 to 6.6 percent.
Südzucker’s figures were the focus of attention on the German stock market. However, a surprisingly significant jump in profits and an increased sales outlook only convinced investors for a short time: After a friendly start, the shares turned negative and recently lost almost three percent to EUR 12.28.
Shares from the chip sector were also under pressure after negative industry news: the shares of the Dax group Infineon and the industry supplier Aixtron each lost 3.7 percent. The US industry equipment supplier Applied Materials reduced its outlook for the final quarter due to recent US restrictions on business relations with China. According to traders, this does not bode well for the prospects in the industry in general.
The euro was weighed down by the US inflation data and fell to $0.9659. The European Central Bank had set the reference rate at $0.9706 on Tuesday.
On the bond market, the current yield fell to 2.18 percent from 2.22 percent the previous day. The Rex pension index rose by 0.27 percent to 127.05 points. The Bund future lost 0.66 percent to 135.53 points.
