Before the annual meeting of central bankers in Jackson Hole (Wyoming), investors on the German stock market largely held back in the middle of the week. This was also due to mixed economic signals from the euro zone. The Dax gave up most of its initial gains during trading on Wednesday and closed 0.15 percent higher at 15,728.41 points. The MDax for medium-sized titles gained 0.24 percent to 27,304.11 points.
There was also relatively little movement on the other leading European exchanges. The EuroStoxx 50 rose by 0.15 percent to 4266.67 points. The Paris Cac 40 rose 0.08 percent. The London FTSE 100 was up 0.68 percent. In New York, the Dow Jones Industrial was up 0.45 percent at the close of the European stock market.
Business sentiment in the euro area clouded over noticeably in August. The Purchasing Managers Index by S
The biggest losers in the Dax were Adidas with minus 3.3 percent. The weakest MDax titles were Puma, which fell by 3.8 percent. They followed Foot Locker’s papers, which fell by a third in US trade. A sales and profit warning and the suspension of dividend payments weighed heavily on the course of the sports shoe and clothing manufacturer.
On the other hand, shares in utilities and real estate groups were sought. In the Dax, Eon and Vonovia were among the best values with premiums of 1.2 and 2.3 percent respectively. Dealers justify this with falling capital market interest rates, which, among other things, favored the refinancing of these companies.
The euro recovered in late European trade and last traded at $1.0859. The European Central Bank set the reference rate at $1.0805 in the afternoon.
On the bond market, the current yield fell from 2.69 percent on the previous day to 2.57 percent. The Rex pension index rose by 0.59 percent to 124.16 points. The Bund future rose by 1.05 percent to 132.54 points.
