Dax still in the red after data from the US job market

After two strong trading days, the German stock market took a breather on Wednesday.

Dax still in the red after data from the US job market

After two strong trading days, the German stock market took a breather on Wednesday. In the afternoon, the German leading index Dax lost 1.05 percent to 12,537.06 points. Data from the US job market temporarily caused additional selling pressure up to 12,512 points. The MDax for medium-sized companies recently fell by 1.72 percent to 23,094.56 points. The Eurozone leading index EuroStoxx 50 fell by 0.9 percent.

In the previous week, the Dax had fallen to 11,862 points, its lowest level since November 2020. From that level it was then able to recover by almost seven percent.

The titles of the chip group Infineon, as a Dax top value, increased their previous day's plus by 1.3 percent in the middle of the week. Market observers referred to optimistic statements by the group from a conference call. At the bottom of the leading German index were the shares of the automotive supplier Continental with a minus of almost six percent.

Carl Zeiss Meditec gained 2.2 percent in the MDax following an upgrade by Berenberg Bank. In the SDax, the shares of the shop pharmacy were 3.3 percent higher according to key data for the third quarter. Against the weak trend in the European car sector, the shares of the supplier Vitesco rose by 3.1 percent after several orders for battery management systems.

The euro gave back slightly after the previous day's rally. The shared currency traded at $0.9919 in the afternoon session. The European Central Bank set the reference rate at $0.9891 (Monday: $0.9764) on Tuesday.

On the bond market, the current yield rose from 1.70 percent the day before to 1.85 percent. The Rex pension index fell by 0.67 percent to 129.15 points. The Bund future lost 0.52 percent to 140.64 points.

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