After a good start to the week, a bit of disillusionment has spread on the German stock market. The leading index Dax made up for initial losses of 0.6 percent on Tuesday and was slightly up at 15,390.53 points at midday.
A slide in the price of Bayer shares and renewed concerns about inflation dampened the mood. Nevertheless, there are indications that the stock exchange barometer could end February with a plus of around two percent and thus build on the strong January.
The MDax of medium-sized stocks fell by 0.21 percent to 28,619.42 points. The leading eurozone index, the EuroStoxx 50, rose by 0.13 percent.
Inflation data from major European countries for the current month raised fears of further rising interest rates in the euro area: inflation in France surprisingly reached a record high and in Spain inflation rose unexpectedly.
Bayer shares lost 3.9 percent at the end of the Dax. The pharmaceutical and agrochemical group had disappointed with its profit outlook. The company prepared investors for less buoyant deals. Growth is likely to slow in 2023. The strong tailwind due to extraordinarily high prices for the crop protection product glyphosate continues to abate. In addition, there are higher costs and price pressure for some medicines.
The shares of Adidas benefited from analysts' praise with a plus of 1.4 percent: Two banks had made positive comments about the sporting goods manufacturer. The market has become too cautious with regard to the company's profitability, wrote analyst Graham Renwick from Berenberg. There should still be headwind in 2023, but the new boss Björn Gulden has made a clean sweep of the new outlook. With the right strategy and its implementation as well as investments, Adidas is in a good starting position for the important sporting year 2024.
In the MDax, Aixtron shares were the clear favorite with a plus of a good ten percent. The semiconductor equipment supplier wants to accelerate growth in the new year after being burdened by delivery delays.