Stock exchange in Frankfurt am Main: Dax remains above 13,000 points despite losses

The Dax ultimately held its ground above the 13,000 point mark on Wednesday.

Stock exchange in Frankfurt am Main: Dax remains above 13,000 points despite losses

The Dax ultimately held its ground above the 13,000 point mark on Wednesday. At the close of trading, the leading German index was down 1.22 percent to 13,028.00 points, after temporarily slipping to 12,952 points in the afternoon. This followed on from the previous day's setback, when unexpectedly persistent US inflation caught investors off guard. The MDax of medium-sized listed companies fell by 2.05 percent to 24,798.20 points.

In the end, the leading eurozone index, the EuroStoxx 50, fell by 0.52 percent to 3567.56 points. The national indices in Paris and London also fell, with London falling even more sharply than Frankfurt. The New York leading index Dow Jones Industrial, on the other hand, was moderately up at the end of trading in Europe.

From a company perspective, Kion shocked investors: The forklift manufacturer expects a loss in the low three-digit million euro range in the third quarter due to increased costs in the project business. Disruptions in the supply chains and significantly increased costs weighed heavily on the business.

Kion's shares fell by almost 30 percent as the clear tail light in the MDax and were at times as cheap as they were last in 2013. The shares of competitor Jungheinrich lost more than five percent.

At Uniper, fears of an even greater dilution of shares in the course of the state entry caused a price slide of around 18 percent and a record low. In the morning, the shares of the gas importer had briefly reacted positively to the leaked message from informed circles that nationalization of the group was being considered in the search for long-term stabilization. Uniper, which is majority owned by the Finnish Fortum Group, is currently bridging its liquidity needs with a KfW credit line.

Lufthansa's papers fell by more than three and a half percent after the federal government sold its entire stake in the airline. The Economic Stabilization Fund sold its last remaining stake to international investors.

The online retailer About You lowered its sales and earnings targets for the current fiscal year due to falling consumer spending and the slowdown in the economy. At the end of the SDax small-cap index, the share certificates collapsed by eleven percent.

On the other hand, an increased business forecast helped the shares of the car rental company Sixt with almost one percent plus in the MDax top group.

At USD 0.9991, the euro was recently trading below par again. The European Central Bank had previously set the reference rate at $0.9990 (Tuesday: $1.0175); the dollar thus cost 1.0010 (0.9828) euros.

On the bond market, the current yield rose from 1.55 percent the day before to 1.62 percent. The Rex pension index fell by 0.30 percent to 130.86 points. The Bund future recently gained 0.03 percent to 143.48 points.

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