Deutsche Börse: Dax closes lower – economics

Frankfurt am Main – As is often the case: Stock market week kicks off with a nasty brake for Dax investors!

The German stock market started the shortened Easter with losses. Internet and technology stocks in particular came under heavy pressure. The Dax has continued its zigzag course since the middle of last week, finally losing 0.64 percent to 14,192.78 points.

The MDax for medium-sized companies fell 0.84 percent to 30,571.68 points.

Market sentiment was clouded by the prospect of an economic slowdown combined with high inflation. Adding to this were fears over US monetary policy after the US Federal Reserve signaled sharp increases in interest rates and a reduction in total assets last week in a bid to cushion price pressures.

And again fear, fear, fear! Specifically, fears of massive negative fallout from the war in Ukraine and corona-related lockdowns in China continue to weigh on the market….

Most of the other major European exchanges also had to lose feathers. The Eurozone’s leading barometer, the EuroStoxx 50, lost 0.49 percent to 3,839.62 points. In New York, the leading Dow Jones Industrial Average fell 0.5 percent at the end of European trading on Monday.

Unexpectedly strong quarterly figures gave BASF shares a significant boost of up 2.9 percent. Ultimately, however, only a 0.1 percent increase remained. The business of the world’s largest chemical group developed better than expected in the first quarter.

With Hellofresh, Delivery Hero and Zalando, the current year’s weakest Dax stocks were also at the bottom of the Dax on Monday. Hellofresh fell 4.3 percent. Two insurers, Munich Re and Allianz SE, were far ahead in the main index, each posting price premiums of around 1.1 percent. Rising capital market interest rates, from which the profits of financial groups benefit, are considered the main drivers of price premiums.

Airbus shares also posted a 1.1 percent gain among the best Dax stocks. The planemaker received a major order from Asia from aircraft financier BOC Aviation, which ordered 80 aircraft from the A320 model family.

Rising 4.0 percent, Rheinmetall moved closer to the all-time high reached in the middle of last week. The British Army receives a further 100 Boxer wheeled armored vehicles from the Düsseldorf armament company. The additional vehicles will be delivered from 2024.

The euro last cost 1.0875 US dollars. The European Central Bank had previously set the benchmark rate at $1.0900 (Friday: $1.0861). The dollar had cost 0.9174 (0.9207) euros. In the bond market, the current yield rose from 0.58 percent on Friday to 0.67 percent. The Rex pension index fell 0.41 percent to 136.96 points. Bund futures fell 0.87 percent to 155.06 points.

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