The hunt for records on the German stock market took a break on Wednesday. Once again disappointing industrial data from Germany, rising yields and, in some cases, significant losses for individual stocks, clouded the otherwise positive overall picture.
The Dax fell by 0.65 percent to 16,922 points, but is still within striking distance of the record high of around 17,050 points, which it climbed to the day before. Analysts see it as positive that the leading German index was able to close above the round mark of 17,000 points for the first time on Tuesday. This speaks for further price gains, according to the chart experts at HSBC bank. The MDax of the 50 medium-sized stocks fell by 0.42 percent to 25,711 points in the middle of the week.
In this country, total production in the manufacturing sector fell surprisingly significantly in December. "The downward trend continues," commented analyst Jens-Oliver Niklasch from Landesbank Baden-Württemberg. Since May 2023, production has shrunk or has stagnated. ""This shows what a difficult situation the industry is in here."
Statements from the European Central Bank tended to support returns on the bond market and thus weighed on risky securities such as stocks. Board member Isabel Schnabel once again spoke out against rapid interest rate cuts. Recent economic data has shown that the central bank should proceed “patiently and cautiously” in the event of a possible easing of monetary policy.