Frankfurt / Main (dpa) – The euphoria in the German stock market has noticeably subsided. Even the record in the Dow Jones index from the night before could no longer encourage investors in this country to buy.
The Dax fell about half a percent to 13,078 points in the early afternoon. This continued the hanging game of the last few days.
Market participants may have become too carefree in light of the positive news about corona vaccines, said Landesbank Helaba analyst Christian Schmidt. According to experts, it will be some time before any major successes can be recorded in the fight against the Covid-19 lung disease. The vaccines have yet to pass the approval hurdle.
The MDax of the 60 median values lost almost half a percent to 28,598 meters. The leading euro zone index, EuroStoxx 50, fell 0.62 percent to 3,445 points.
Aviation industry newspapers, which had risen a lot recently, gave up part of their profits. Shares of Lufthansa, Fraport, Airbus and MTU Aero Engines lost 1.3 to 3.8 percent.
The weakest shares on the Dax were German stock exchange shares with a loss of two percent. Distributors spoke of an industry weakness.
Zooplus shares rose eight percent to the top of the SDax for smaller stocks. Analysts praised the pet supplies retailer’s profitability and high cash levels from January to September.
Wirecard’s battered stock rose 9 percent to its highest since mid-October. The insolvent payment processor sells its core business to Spanish bank Santander.
The euro gained ground and was trading at $ 1.1878 in the early afternoon. The European Central Bank set the benchmark rate at $ 1.1830 on Monday.
In the bond market, the current yield rose from minus 0.57 percent on Monday to minus 0.56 percent. The Rex bond index fell 0.07 percent to 145.97 points. The future of the Bund rose 0.15 percent to 175.22 points in the early afternoon.