Frankfurt / Main (dpa) – Investors’ fear of another lockdown by the crown pissed off investors in the German stock market in the middle of the week.
The fears were confirmed Wednesday afternoon: The federal and state governments want to break the second wave of corona infections with strict contact restrictions for citizens and an extensive shutdown of all leisure activities. This was decided by Chancellor Angela Merkel and the prime ministers of the federal states in their videoconference on Wednesday.
In the course of trading, the Dax fell to 11,457 points, its lowest level since the end of May. In the end, the leading index lost 4.17 percent to 11,560.51 points. The leading index is now around 14 percent from its mid-range high in early September at 13,460 points. The MDax of the 60 midsize stocks closed Wednesday down 2.71 percent at 25,884.13 points.
The leading euro zone index, EuroStoxx 50, fell 3.5 percent to just under 2,964 points. The Cac 40 in Paris was down 3.4 percent and the British FTSE 100 by 2.6 percent. In the United States, the Dow Jones Industrial was down 3.0 percent at the close of business in Europe.
The new restrictions are intended to prevent the uncontrollable spread of the epidemic. The measures apply from next Monday (November 2) and should last until the end of November. The risk of an infection situation that is no longer manageable grows by the day, as the number of infections currently almost doubles every week, he said to justify.
Meanwhile, the balance season in Germany gained in intensity. An increase anticipated by Delivery Hero boosted the food delivery company’s participation. As a maximum value on the Dax, they rose 1.7 percent. Delivery Hero is one of the beneficiaries of the Corona crisis.
Consumer goods maker Beiersdorf felt sales pick up in the third quarter, but the group has yet to see a sustained easing. Newspapers lost 6.5 percent. According to figures presented by Deutsche Bank, the share price went up on a roller coaster. In the end, the stocks lost 1.9 percent, but they were still among Dax’s best values.
BASF shares fell 6.7 percent. The latest quarterly figures presented correspond to preliminary data. In addition, the Ludwigshafen company confirmed the recently formulated new annual targets. Cyclical chemical stocks were generally avoided in view of impending closures in Europe.
After reducing the earnings forecast, IT service provider Cancom’s shares collapsed by more than 13 percent at the end of the MDax.
The euro recently traded at $ 1.1747, well below the $ 1.18 mark. The European Central Bank (ECB) had set the reference rate for the afternoon at $ 1.1727. In the bond market, the current yield fell from minus 0.58 percent the day before to minus 0.64 percent. The Rex bond index rose 0.24 percent to 146.61 points. The future of the Bund rose 0.05 percent to 176.13 points.