Dax in the red: Corona risks back in the spotlight | Free Press

Frankfurt / Main (dpa) – In light of the increasing number of corona infections, the German stock market started at a loss on Thursday.

The Dax lost 0.76 percent to 13,102 points in early trading. On Wall Street the day before, the Dow Jones Index again failed to break the 30,000 mark, so investors sold shares. Weak specs, which are also based on the rapidly growing number of infections, are now weighing on Dax as well.

“The air is out,” said Landesbank Helaba analyst Christian Schmidt. After hopes of a vaccine in recent days, disappointment has returned to the stock markets. The Dax is consolidating below the 13,300 mark after failing to break this mark.

The MDax of the 60 median values ​​fell 0.74 percent to 28,587 points. The leading euro zone index, EuroStoxx 50, lost 0.70 percent to 3,458 points.

According to Commerzbank, the late crash in American stock markets became the main theme overnight after New York City announced that it was closing all public schools. Investors cited this in recent US trading as a renewed sign that despite all the vaccine euphoria, the crown crisis still carries many risks and requires more restrictions on public life. There were also negative signals on some Asian stock exchanges.

Thyssenkrupp fell on individual stocks with a share price loss of six percent. One trader described the outflow of 5.5 billion euros in cash in the current financial year as “disastrous”. The industrial group’s net loss is also greater than previously feared.

Forklift manufacturer Kion wants to raise nearly € 1 billion with a capital increase. The move caused the course to collapse by nearly ten percent. Analyst Sven Weier at investment bank UBS called the move “surprising.”

The papers of the two reinsurers Munich Re and Hannover Re each lost about two percent after Societe Generale bank canceled purchase recommendations for both shares. Also for Siemens shares, the bank only recommended “hold”, after which the price fell 1.4 percent.

On the SDax, Wacker Neuson shares fell 10 percent. Construction machinery manufacturer loses its CEO and CFO.

Dermapharm articles were up four percent at the top of the SDax. The US investment bank Jefferies began rating the shares with “Buy.”