The decline on the German stock market continues. The leading index was down 0.81 percent at 15,280.41 points on Tuesday afternoon, at the same level as March. Expected US stock markets to be somewhat weaker also put some downward pressure on trading here. The MDax, an index of medium-sized stocks, went downhill more significantly with minus 1.17 percent to 25,824.91 points. The Eurozone leading index EuroStoxx 50 lost around one percent.
Persistent concerns about inflation and interest rate hikes are discouraging investors from increasing their exposure to riskier assets, wrote Pierre Veyret, market analyst at broker Activtrades. In addition, the renewed danger of a standstill in the US federal administration is now putting pressure on the mood on the market.
On the corporate side, real estate values fell in line with the weak trend across Europe – interest rates, which are expected to remain high for a longer period of time, are once again weighing heavily on the sector since the latest central bank statements. Vonovia shares, which have risen sharply since mid-August, fell by more than four percent at the end of the DAX. For the other industry representatives in the back rows of the stock exchange, the price losses were sometimes even higher. The economically sensitive car stocks also remained under pressure with the highest losses of almost three and a half percent for the Porsche Holding.
Conti shares have recovered and were recently up around 1.4 percent. The day before, the car supplier and tire company’s papers had slipped to their lowest level since the beginning of June.
Among the weakest values in the Dax, the shares of the online fashion retailer Zalando also remained under pressure and fell by around one and a half percent.
The euro rose slightly to $1.0607 in the afternoon. The European Central Bank (ECB) set the reference rate at $1.0633 on Monday. On the bond market, the current yield fell from 2.79 percent the day before to 2.77 percent. The Rex bond index fell by 0.06 percent to 122.62 points. The Bund future rose by 0.27 percent to 129.20 points.
