Stock exchange in Frankfurt: Dax continues with losses

After the weak August, the start of September on the German stock market has also been disappointing so far.

Stock exchange in Frankfurt: Dax continues with losses

After the weak August, the start of September on the German stock market has also been disappointing so far. The Dax fell to its lowest level since mid-July. High inflation and the associated expectation of sharply rising interest rates are still keeping investors from buying. Most recently, the Dax was down 1.15 percent at 12,687.93 points. The MDax lost even more with minus 2.33 percent to 24,631.85 points. The Eurozone index EuroStoxx 50 fell by 1.3 percent.

Sentiment prevailed in the chip sector as the US escalated its dispute with China with restrictions on the export of high-performance Nvidia chips. Nvidia shares fell 4.5 percent in pre-market US trading and also dragged Infineon and Aixtron down on the German market.

A loser in the MDax were the 2.8 percent weaker shares of Lufthansa. The pilots have decided to go on a day-long strike this Friday. The Frankfurt airport operator Fraport also dropped 3.9 percent.

Shares in the shop pharmacy cannot escape their downward spiral. With a discount of 5.4 percent, they followed the turbulence at the competitor Zur Rose. He took less money from capital measures than hoped, the papers slipped by 6.6 percent.

The shares of the armaments companies Rheinmetall and Hensoldt lost four and five percent respectively. Here the high price gains since the Russian war of aggression against Ukraine are disappearing.

Gea shares were downgraded by JPMorgan on expectations of weaker orders. Gea then fell by 5.2 percent. At Hapag-Lloyd, another investment bank, HSBC, became more pessimistic. Here the papers lost 6.3 percent.

1.0002 US dollars was last paid for the euro, so the common currency continues to oscillate around parity. The European Central Bank had set the reference rate at $1.0000 the day before.

On the bond market, the current yield rose from 1.43 percent on the previous day to 1.50 percent. The Rex pension index fell by 0.27 percent to 131.52 points. The Bund future fell by 0.07 percent to 147.61 points.

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