After a five-day rally in the Dax and the rise above 16,000 points, the leading index has taken a break. Especially since three major banks, JPMorgan, Citigroup and Wells Fargo, will start the season of quarterly reports in the USA later in the day.
The Dax was last down 0.3 percent at 16,091 points. Nevertheless, a profit of a good three percent is emerging for the stock market week.
The MDax with the 50 medium-sized titles fell by 0.25 percent to 27,927 points. The EuroStoxx 50, the stock market barometer for the heavyweights in the eurozone, was moderately up.
Among the individual stocks, Brenntag shares were found at the end of the Dax with a discount of 3.3 percent. Because of weak demand in the chemical industry, JPMorgan recommended selling shares in the chemicals trader.
A buy recommendation from the bank HSBC for the papers of Merck KGaA gave the price a plus of 0.7 percent. At Bayer, on the other hand, HSBC advised to “reduce”, which caused the price to drop by 1.1 percent.
Dealers rated a media report as negative for the car sector, according to which Mercedes-Benz is observing a price war for electric cars in the important sales market of China. The shares of Mercedes-Benz, Porsche, Volkswagen and BMW then showed price losses of up to 1.3 percent.
Among the small caps, Telefonica Deutschland benefited from a positive study by Morgan Stanley with a plus of 1.4 percent. Sixt shares, on the other hand, lost 5.8 percent as the weakest MDax value after Deutsche Bank cut its buy recommendation.
