The Dax recorded slight losses on Thursday. As in the middle of the week, persistent concerns about inflation and interest rates weighed on the mood. The leading German index fell by 0.43 percent to 15,239.54 points in the early afternoon. The MDax of medium-sized stocks lost 0.82 percent to 28,344.34 points. The leading eurozone index, the EuroStoxx 50, fell by 0.12 percent.
Fear of further increases in interest rates, which could make fixed-income investments more attractive and slow down the economy, remains omnipresent in the financial markets. Market observer Michael Hewson from the trading house CMC Markets referred to rising bond yields as a general problem for stocks.
Fresh inflation data from the euro zone caused a brief moment of shock on the stock market. High inflation in the region eased off for the fourth month in a row in February, but not as much as hoped.
At the end of the Dax, Covestro shares fell by 5.3 percent. In the difficult economic environment, the plastics group does not dare to make any specific forecasts for 2023. The operating result is likely to fall significantly in the current year. The same applies to the free inflow of funds from operations.
Shares in real estate companies meanwhile defied investors’ concerns about interest rates and bucked the negative trend. The papers of LEG Immobilien gained 2.3 percent at the top of the MDax. TAG Immobilien shares increased by 0.7 percent.
The euro continued to fall and was last listed at 1.0592 US dollars. The European Central Bank had fixed the reference rate on Wednesday at 1.0684 (Tuesday: 1.0619) dollars. The dollar thus cost 0.9360 (0.9417) euros.
On the bond market, the current yield rose from 2.76 percent on the previous day to 2.79 percent. The Rex pension index fell by 0.28 percent to 123.15 points. The Bund future rose by 0.08 percent to 131.93 points.
