Strong employment data from the USA on Thursday significantly accelerated the downward trend on the German stock market. The Dax closed 2.57 percent weaker at 15,528.54 points. That means the fourth day of losses in a row and also a three-month low. The MDax for medium-sized companies fell by 2.64 percent to 26,708.44 points.
Analyst Craig Erlam from broker Oanda spoke of a serious blow to hopes of a longer interest rate pause by the US Federal Reserve. If a further interest rate hike was not already certain at the end of July, then this is probably the case now.
In Europe, investors also had little reason to celebrate. The Eurozone leading index EuroStoxx 50 lost another 2.93 percent to 4223.09 points, and the national indices in Paris and London also went down significantly. At the end of trading in Europe, the New York leading index Dow Jones Industrial was just under 1.5 percent lower than the technology-heavy Nasdaq 100.
Real estate stocks, which are particularly sensitive to interest rates, were among the biggest losers on the German stock market: Vonovia was at the bottom of the Dax with minus 7.4 percent, and the sector stocks were also under the most pressure in the MDax and the SDax small-cap index.
Many investors also took profits on well-performing titles. The shares in the sporting goods manufacturer Adidas lost 5.6 percent, the title of the competitor Puma lost 3.7 percent. At the building materials group Heidelberg Materials – the biggest Dax winner since the beginning of the year – a deleted buy recommendation from the bank HSBC favored profit-taking, which pushed the shares down 4.9 percent.
Otherwise, quarterly reports caused price swings. The online pharmacy Redcare Pharmacy confirmed a surprisingly good sales development for the second quarter. The shares, which have already performed very well this year, ended up gaining 7.1 percent, which means first place in the MDax.
Südzucker meanwhile scored in the SDax by raising its annual targets. As one of the few winners on the German market, the shares increased by 3.3 percent.
On the other hand, the shares of index bottom light Suse collapsed by almost 15 percent according to the final quarterly figures. At 10.20 euros, the shares of the Linux specialist had previously reached a record low.
After two days of losses, the euro was able to pick itself up again and most recently cost 1.0870 US dollars. The ECB had previously set the reference rate at $1.0899. On the bond market, the current yield rose to 2.60 percent from 2.51 percent the previous day. The Rex pension index fell by 0.38 percent to 123.64 points. The Bund future lost 1.09 percent to 131.18 points.
