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Dow record no longer pulls Dax with | Free Press

Frankfurt / Main (dpa) – The euphoria in the German stock market decreased markedly on Tuesday. The Dax hit the spot in early trading with 13,138 points. Even the record in the Dow Jones index from the night before could no longer encourage investors in this country to buy.

The MDax of the 60 midsize stocks lost just under half a percent to 28,597 points in early trading. The leading euro zone index, EuroStoxx 50, was in the red at 0.13 percent at 3,462 points.

“Stock markets remain caught in the tension between the vaccine hope and the Covid-19 lockdown,” said market observer Thomas Altmann from asset manager QC Partners. Meanwhile, high valuations following recent price rises caused investors to be a bit more cautious.

The mere hope of a way out of the crisis is no longer driving equity markets as strongly as a week ago. The day before, a rally fueled by the prospect of another effective corona vaccine had subsided. In New York it was enough for a new record for the Dow Jones Industrial, but internationally, investors are keeping a low profile. In Asia, the picture was mixed.

On Tuesday, in addition to news on the fight against the corona virus, new US economic data will come into focus. Retail and industry data could provide new clues as to how much the pandemic is affecting private consumption and economy.

The situation is calm for individual titles. Zooplus shares rose 2.8 percent following the release of final financial results for the first nine months of the year.

Wirecard’s battered stock rose 11 percent to its highest since mid-October. The insolvent payment processor sells its core business to Spanish bank Santander. No financial details were given.