Bad news from the pharmaceutical and automotive sectors caused a gloomy mood on the German stock market on Thursday. The Dax lost 0.70 percent in the morning to 15,783.80 points and fell to its lowest level of the week. The MDax of the 50 medium-sized stocks fell by 0.54 percent to 27,743.41 points. The leading eurozone index, the EuroStoxx 50, held up slightly better at minus 0.33 percent.

According to stockbrokers, the laboratory specialist Sartorius was disappointing across the board with the report for the first quarter. The share contained in the Dax fell by almost ten percent to its lowest level since December 2022. In its wake, the shares of Merck KGaA also lost 2.1 percent. The Darmstadt-based company is also active in the laboratory business. Shares in the dialysis provider FMC even lost 4.8 percent.

In addition, Tesla, a car manufacturer, disappointed with its quarterly figures. Analysts criticized the unexpectedly weak profitability, which was the focus of the market. Tesla shares fell 7.5 percent in premarket US trading. In Paris, Renault also lost more than seven percent. After the quarterly report by the French, concerns about imminent price reductions for electric cars were also spreading on the market – not least in view of the negative consequences of Tesla’s price discounts.

From the point of view of analyst Konstantin Oldenburger from broker CMC Markets, Tesla’s weak numbers raise questions about the demand for electric cars and the company’s pricing strategy: “Tesla seems to be just a normal car manufacturer that cannot break away from negative market dynamics “. Investors are not at all enthusiastic about it.

Faced with this bad news, investors avoided the automotive sector: Porsche, BMW, Volkswagen, Mercedes-Benz and Continental all fell by 2.7 to 3.3 percent. The car titles also weighed heavily on the Dax.