Losses in the price of Siemens Energy shares and, as a result, Siemens shares put the Dax under pressure on Thursday. The European Central Bank’s interest rate decision curbed the losses somewhat in the early afternoon. As expected, the monetary authorities have left the key interest rates unchanged in view of the lower inflation rates after ten interest rate increases.
The DAX fell by 1.08 percent to 14,731.05 points. The MDax lost 0.94 percent to 23,796.75 points. There was a more moderate decline on the leading European stock exchanges. The EuroStoxx 50 lost 0.6 percent to 4049.40 points. In New York, the Dow Jones lost 0.4 percent at the close of European trading.
Siemens Energy says it is currently examining various measures to strengthen its balance sheet. We are talking to the federal government and banks, among others. “Wirtschaftswoche” had previously reported that the company was negotiating with the federal government about state guarantees for loans of up to 15 billion euros. The energy technology group’s shares then temporarily collapsed by almost 40 percent. At the end of trading, the stocks fell 35.5 percent lower on the DAX.
In its wake, Siemens shares lost 4.5 percent. The group still has almost a third stake and is one of the heavyweights in the DAX with a market value of almost 100 billion euros. Share price losses therefore have an above-average impact on the leading index.
Looking at other individual stocks in the DAX, Mercedes-Benz was negative with a discount of 5.8 percent. Due to tough competition in the car business, the Stuttgart-based company is becoming more cautious with its forecast for the year as a whole. The shares of BMW and Porsche AG lost 3 and 3.5 percent respectively.
Rheinmetall’s shares, on the other hand, rose by 1.6 percent. The industrial group once again benefited from good business with weapons and ammunition.
On the foreign exchange market, the euro fell slightly after the ECB’s interest rate decision and was last priced at $1.0535. The central bank set the reference rate at $1.0540 in the afternoon.
On the German bond market, the current yield rose from 2.84 percent the day before to 2.87 percent. The Rex bond index fell by 0.07 percent to 123.23 points. The Bund future recently rose by 0.34 percent to 128.39 points.
