Stock exchange in Frankfurt: Banks are depressing the mood on the stock market

A gloomy mood in the banking sector and reluctance to present figures from large US technology groups caused slight losses on the German stock market on Tuesday.

Stock exchange in Frankfurt: Banks are depressing the mood on the stock market

A gloomy mood in the banking sector and reluctance to present figures from large US technology groups caused slight losses on the German stock market on Tuesday. The leading index Dax lost 0.23 percent to 15,828.05 points in the first hour of trading. The MDax of medium-sized stocks fell by 0.90 percent to 27,479.91 points. The Eurozone leading index EuroStoxx 50 lost 0.6 percent.

In the United States, corporate reports that are globally significant for investor sentiment will be released on Tuesday. The results of the tech giants Alphabet and Microsoft after the US stock market close should be mentioned in particular.

Banks dampened the mood on Tuesday after quarterly figures from the Swiss UBS and the troubled US regional bank First Republic Bank, where customers withdrew more money than expected in the first three months of the year.

On the other hand, the quarterly figures from Daimler Truck were well received, as shown by the increase of 2.1 percent. The commercial vehicle manufacturer Daimler Truck had a surprisingly good start to the new year. In the MDax, the forklift manufacturer Jungheinrich also delighted investors with a raised outlook. The course increased by 9.2 percent.

Thyssenkrupp increased their high losses from the previous day by 4.1 percent. The surprising and premature departure of company boss Martina Merz continues to cause uncertainty among investors in the industrial and steel group.

In the SDax, the shares of the wind farm developer PNE rose by 3.3 percent. The company is moving forward with the sale of its US business. Only Fielmann was better in the second-tier index with a plus of 7.2 percent. The Berenberg Bank canceled the sell recommendation for the shares in the optician chain.

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