Stock exchange in Frankfurt: Dax weakens after an intermediate high

The Dax went into reverse on Monday.

Stock exchange in Frankfurt: Dax weakens after an intermediate high

The Dax went into reverse on Monday. In the course of trading, the leading German index widened its minus to 0.54 percent at 14,450.93 points. The MDax of medium-sized stocks lost 0.41 percent to 26,076.66 points. The Eurozone leading index EuroStoxx 50 fell by 0.38 percent to 3962.79 points.

On the German stock market, the focus was on the online broker Flatexdegiro. After the profit warning that became known at the weekend and criticism from the German financial regulator Bafin, which had identified deficiencies in organization and corporate management during a special audit, the share price collapsed by up to 38 percent and reached its lowest level since the outbreak of the corona pandemic in March 2020. Most recently, the papers were still 29 percent in the red and remained at the bottom of the SDax small-cap index.

At the end of the Dax, the Bayer titles continued their recent series of losses with minus 2.7 percent. A canceled buy recommendation from Bank of America had a negative impact here. After a good run at the end of the MDax, Rational fell by seven and a half percent after Bank of America expressed skepticism about the large kitchen outfitter in an initial study.

With a price increase of 4.7 percent, Vitesco shares were among the SDax favorites after the US bank JPMorgan upgraded the supplier as part of an industry study.

The Volkswagen benefits rose by one percent after the "Handelsblatt" reported, citing insiders, that CEO Oliver Blume was preparing to reorganize the company's architecture. Supported by a recommendation from Oddo BHF, Deutsche Bank, the Dax leader, rose by almost two percent to EUR 10.21.

The euro continued its recent uptrend, last trading at $1.0566. The ECB set the reference rate at $1.0538 on Friday.

On the bond market, the yield rose from 1.75 percent on Friday to 1.80 percent. The Rex pension index fell by 0.36 percent to 128.72 points. The Bund future lost 0.34 percent to 141.95 points.

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