The German stock market got off to a subdued start to the week. The Dax moved relatively little during trading on Monday and in the meantime came within four points of the 16,000 point mark. Ultimately, the leading index fell by 0.05 percent to 15,952.83 points. The MDax closed down 0.28 percent at 27,543.17 points.
Weak German industrial production data in March had little impact as a decline – albeit not quite as sharp as reported – had been expected. There is currently a lack of positive news to attract more buyers and pull the Dax out of its lethargy, the market said.
The Eurozone leading index EuroStoxx 50 rose by 0.2 percent and the Paris Cac 40 by 0.1 percent. The London Stock Exchange was closed for a public holiday. In the US, the Dow Jones Industrial fell 0.2 percent at the European close.
On the company side, investors focused on the shares of Merck KGaA in the afternoon. As the Dax bottom, they lost 2.5 percent after the pharmaceutical and technology group announced the resignation of CFO Marcus Kuhnert at the end of June. He will be replaced by Helene von Roeder, who is currently on the board of real estate group Vonovia.
Rational lost 8.5 percent in the MDax. They suffered from the fact that Baader Bank downgraded the shares after the large price gains of the commercial kitchen equipment supplier since September. Evotec shares fell 4.0 percent. You have to leave the MDax on Tuesday because the drug researcher for the pharmaceutical industry did not submit its certified annual report in time after a cyber attack.
Adesso’s shares slipped by 6.9 percent in the SDax. On Friday evening, the IT service provider announced quarterly revenues that were better than expected, but at the same time a surprisingly weak development in earnings.
Outside the Dax family, Tui shares rose 6.1 percent in Frankfurt trading. Interview statements by CEO Sebastian Ebel suggest a profitable summer for the world’s largest travel group.
The euro was last traded at $1.1019. The European Central Bank set the reference rate at $1.1037 in the afternoon. On the bond market, the current yield rose from 2.25 percent on Friday to 2.32 percent. The Rex pension index fell by 0.20 percent to 126.59 points. The Bund future fell by 0.40 percent to 135.59 points.
