At the start of a week well filled with company and economic dates, the German stock market is initially going down. The German leading index Dax fell by 0.34 percent to 15,097.94 on Monday morning. The MDax for medium-sized companies fell even more clearly with minus 0.86 percent to 28,827.15 points. The EuroStoxx 50, the leading index in the euro zone, fell by 0.69 percent to 4148.99 points.
With the current losses, the Dax is moving away from the high of 15,269 points reached in the middle of the month since February 2022. Although the most important German stock market barometer has still made clear gains in its race to catch up with the 2022 losses since the beginning of the year, the pace has recently picked up slowed down.
Investors are waiting for numerous important central bank decisions in the USA, Europe and Great Britain this week, so many are holding back for the time being. In addition, the reporting season is also gaining momentum in Germany. Shares in Commerzbank rose by almost two percent to the top of the MDax in early trading after the preliminary annual figures were surprisingly presented.
After two loss-free years based on earnings before interest, taxes, depreciation and amortization, Commerzbank sees itself well prepared for the Linde successor in the Dax.
In the Dax, BMW shares suffered at a discount of a good one percent from the fact that the Berenberg private bank had cashed in on its buy recommendation for the car manufacturer after the price target had been reached. On the other hand, according to the CFO’s confident statements about the profit prospects in the electromobility business, the VW advantages were among the winners with a moderate increase. The papers of the sports car manufacturer Porsche held up even better with a premium of around half a percent.
