A lack of investor confidence because of the problems in parts of the US banking landscape weighed on the Dax on Wednesday. Unexpectedly strong quarterly reports from Microsoft and Alphabet from the US technology sector were not enough to push the indices into positive territory.
At lunchtime, the Dax lost 0.62 percent to 15,773.60 points. The MDax of medium-sized stocks fell by 0.68 percent to 27,359.73 points. The Eurozone leading index EuroStoxx 50 was 0.9 percent lower.
In the real estate sector, there was news from Vonovia. The Dax company raises one billion euros by selling a minority stake in a real estate portfolio. In the wake of Vonovia’s rise of 5.4 percent, other industry stocks also rose. “Not the big hit, but a step in the right direction,” commented a trader. The slump in the real estate market is causing problems for the entire sector.
In the MDax, Puma fell by 3.4 percent. “The puma purrs rather than roars,” said Deutsche Bank analyst Adam Cochrane. The sporting goods group confirmed its growth forecast. However, he also gave the signal that sales in the second quarter would only grow in the low to mid-single-digit percentage range.