Stock exchange in Frankfurt: Dax continues to weaken

After the recent losses, the Dax did not get going on Thursday either.

Stock exchange in Frankfurt: Dax continues to weaken

After the recent losses, the Dax did not get going on Thursday either. After a lethargic start, the leading German index crumbled slightly - at midday it was 0.29 percent down at 14,220.40 points. The MDax of medium-sized companies lost only 0.04 percent on Thursday to 25,253.04 points. The Eurozone leading index EuroStoxx 50 fell by 0.22 percent to 3912.43 points.

From Landesbank Helaba's point of view, the stock market barometer seems to be entering a correction phase. A wait-and-see attitude is currently dominating among market participants. Important economic data are also not on the agenda. On Friday, meanwhile, "US producer prices could provide some market movement as they provide an indication of November's inflation numbers." The US stock exchanges again gave no positive impetus for the Dax on Thursday. Once again, the Asian markets lacked a common direction.

Corporate news was initially not in sight. Price-moving analyst comments were also rare - apart from a BMW downgrade by Bank of America (Bofa), whereupon the shares were among the biggest Dax losers at minus 1.9 percent.

Bofa analyst Horst Schneider now rates the Munich car manufacturer as one of the least attractive values ​​in the sector. For 2023 he relies primarily on Mercedes-Benz, Volkswagen (VW) and Renault. The share certificates of the Stuttgart and Wolfsburg competitors held up slightly better than the BMW titles with price losses of 0.6 and 1.2 percent. Meanwhile, VW suffered somewhat from a downgrade by French investment bank Exane BNP Paribas, whose auto experts fear pressure on margins in the electric car sector.

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