Stock exchange in Frankfurt: Dax weaker at noon - Flatexdegiro crash

Things went downhill a bit for the Dax on Monday.

Stock exchange in Frankfurt: Dax weaker at noon - Flatexdegiro crash

Things went downhill a bit for the Dax on Monday. Around noon, the leading German index lost 0.49 percent to 1458.01 points. The MDax for medium-sized stocks recently gained 0.06 percent to 26,198.58 points. The Eurozone leading index EuroStoxx 50 fell by 0.27 percent to 3967.32 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 the criticism from the German financial regulator Bafin, which had identified deficiencies in the organization and corporate management during a special audit, the share price collapsed by up to 38 percent. Most recently, the papers were still 27 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 2.2 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 around seven percent after Bank of America expressed skepticism about the large kitchen appliance manufacturer in an initial study.

The shares of Vitesco, on the other hand, were among the SDax favorites with a price increase of 3.7 percent after the US bank JPMorgan upgraded the supplier as part of an industry study.

Supported by a recommendation from Oddo BHF, Deutsche Bank, the Dax leader, increased by two percent to EUR 10.23. With his price target of EUR 13, analyst Roland Pfänder believes the shares are significantly more capable and changed his previously negative rating to "Outperform".

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