Investors’ fears of interest rates and the economy are once again clearly causing problems for the Dax. As on the previous day, the leading German index did not manage to surpass the 13,000 point mark for a long time after a friendly start on Wednesday.
According to reports that consumer prices in the euro zone rose by 9.1 percent in August, the Dax slipped 1.03 percent down to 12,827.49 points by midday. The MDax recently fell by 0.63 percent to 25,234.51 points, while the Eurozone leading index EuroStoxx 50 fell by 0.9 percent. Rising interest rates and economic worries are currently not good conditions for price gains on the stock market.
Initial price gains in automotive stocks evaporated. Investors hit the brakes with discounts of up to 2.8 percent, especially in the case of shares from VW and the group holding company Porsche SE, after the shares had recently both benefited from the idea of an IPO for the sports car manufacturer Porsche AG. But Mercedes-Benz and BMW also went into the red.
Airbus was more affected by the news with a discount of 2.5 percent, while SAP rose by half a percent. A high-ranking change of manager caused a sensation among the two Dax heavyweights: CFO Dominik Asam will leave the aircraft manufacturer at the beginning of March next year and switch to the software group in the same role.
The shares of Sixt and RWE were also negative in the Dax index family, losing 1.3 and 2.2 percent, respectively, according to analyst comments.
