Initial price gains on the German stock market quickly melted away again on Tuesday. The leading index Dax turned negative again, which was 0.84 percent to 12,695.20 points in the early afternoon. With the prospect of another sharp rise in interest rates in the USA on Wednesday, investors are hardly taking any more risks.
The MDax lost 1.08 percent to 23,712.32 points. The leading eurozone index, the EuroStoxx 50, was down 0.73 percent. Meanwhile, new inflation data should also have a negative impact on prices: German producer prices rose much more strongly than expected in August and underpin the scenario of interest rate hikes in the euro zone as well.
In the case of the individual titles in the Dax, Henkel initially rose by a good 2 percent, but then turned negative with the weak overall market. Thanks to good business in the adhesives segment, the consumer goods group has again increased its sales forecast for the current year.
The shares of the car manufacturers were able to increase. The surcharges ranged from 0.5 percent for Mercedes-Benz to 5 percent for Porsche Holding. Volkswagen prices rose by 1.2 percent. Here, the upcoming IPO of Porsche AG once again sparked the imagination. The subscription period for the shares begins this Tuesday. According to a media report, the order book is already significantly oversubscribed.
Rising capital market interest rates are poison for the real estate industry. They make construction more expensive and, at the same time, refinancing. The European sector index fell to its lowest level since March 2020 on Tuesday. Vonovia shares brought up the rear in the Dax with a discount of 5 percent. Real estate stocks in the MDax and SDax also came under pressure.
Fraport shares rose 3 percent after analysts upgraded them. Driven by a recommendation, Jungheinrich gained 5 percent at the top of the MDax.
The euro fell on Tuesday. Most recently, $0.9983 was paid. The European Central Bank (ECB) set the reference rate at $0.9990 on Monday. The euro has been hovering around parity with the dollar for weeks.
On the bond market, the current yield rose from 1.69 percent on Monday to 1.80 percent. The Rex pension index fell by 0.43 percent to 129.71 points. The Bund future fell 0.87 percent to 141.17 points, its lowest level since mid-June.
