After a brief excursion of the Dax above 16,000 points, the prospect of further increases in interest rates made investors cautious again on Tuesday. In the end, the leading index lost 1.23 percent to 15,726.94 points. The MDax of medium-sized stocks fell by 1.43 percent to 27,456.06 points.
The European Central Bank (ECB) is likely to raise interest rates again on Thursday due to high inflation in the euro zone. However, experts are divided as to whether there will be a large rate hike of 0.5 percentage points or a small one of 0.25 percentage points. This uncertainty discouraged investors from buying shares. In the afternoon there were also weak economic figures from the USA, which also weighed on the Dax.
In the eurozone, inflation picked up again slightly in April at seven percent. The price target of the ECB of two percent in the medium term will continue to be clearly exceeded.
The focus on the German market was once again the planned takeover of Software AG. There could be a bidding war here. On Tuesday, the company's price increased by almost eight percent to EUR 33.30. Investors are already betting on a higher purchase price.
A buy recommendation from Deutsche Bank for shares in SGL Carbon boosted the stocks of the carbon specialist. The price soared by almost eight percent.
The drug mail-order company Shop Apotheke convinced the analysts with final quarterly figures. The papers still lost two percent and paid tribute to their rally since the beginning of the year.
The auto supplier Stabilus benefited in the second fiscal quarter from picking up auto production in Europe and good industrial business in North America. However, some analysts had expected an even better performance. The papers lost more than five percent.
The best value in the Dax were the shares of Infineon with plus 1.9 percent. They benefited from good guidelines from the semiconductor industry. For the papers of the Vonovia real estate group, it fell by 4.5 percent as the Dax tail light.
The Eurozone leading index EuroStoxx 50 fell by 1.48 percent to 4294.85 points. France's Cac 40 and Britain's FTSE 100 fell by similar amounts. The New York leading index Dow Jones Industrial was down 1.7 percent at the end of trading in Europe.
The euro traded at $1.0982 in the evening. The European Central Bank set the reference rate at 1.0965 (Friday: 1.0981) dollars. The dollar thus cost 0.9119 (0.9106) euros.
On the bond market, the current yield rose from 2.37 percent on Friday to 2.38 percent. The Rex pension index fell by 0.12 percent to 125.63 points. The Bund future rose in the evening by 0.46 percent to 136.22 points.