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Dax closes in the red: profit taking after rally | Free Press

Frankfurt / Main (dpa) – Investors in the German stock market made a profit on Thursday. After the recent rally in the recovery, the Dax lost 1.24 percent to 13,052.95 points.

The plus from the previous week is still 4.6 percent. This is mainly due to the high price hike on Monday, when investors reacted with euphoria to Joe Biden’s election victory in the United States and the emerging advance of a corona vaccine.

The MDax of the medium-sized shares closed on the penultimate trading day of the week down 0.26 percent at 28,334.02 points. The leading euro zone index, EuroStoxx 50, fell 1.13 percent to 3,428.20 points. Major barometers also posted losses in Paris and London, with New York’s Dow Jones Industrial also slightly in the red at the end of European trading.

Investors were also gradually realizing that it would take a while before a Covid-19 vaccine could be distributed in the area, said CMC Markets UK analyst David Madden. The pandemic may not be under control for a few months.

At energy supplier RWE, the crisis in the crown has barely been felt. Therefore, the forecast for 2020 has been confirmed. RWE shares rose 0.41 percent in the Dax front field.

For Deutsche Telekom shares it rose 0.37 percent. The group significantly raised its targets in the first nine months after good business development. However, that was not entirely surprising, as the major subsidiary T-Mobile US had already presented very strong figures.

Despite the corona pandemic, the pharmaceutical and specialty chemicals group Merck KGaA became even more optimistic for the year as a whole, initially causing stocks to rise. In the end, however, they lost 0.53 percent. Since his record at the beginning of the week, the air is out for now.

Siemens shares lagged the leading index with minus 3.23 percent. Analysts spoke of a mixed balance sheet for the technology group and a disappointing outlook for the new financial year 2020/21.

The euro was trading at $ 1.1814 after the market closed. The European Central Bank set the benchmark rate for the afternoon at 1.1791 (Wednesday: 1.1766) US dollars. Therefore, the dollar had cost 0.8481 (0.8499) euros.

In the bond market, the current yield fell from minus 0.50 percent the day before to minus 0.51 percent. The Rex bond index rose 0.05 percent to 145.68 points. The future of the Bund gained 0.18 percent to 174.79 points.