After a strong start to the week, the Dax fell moderately on Tuesday. On the one hand, the losses are likely to be due to the specifications of the US stock exchanges. Losses are expected on Wall Street at the start of trading in the afternoon. On the other hand, the minus in the leading German index is also likely to be due to the plans of the industrial gases manufacturer Linde, because by far the heaviest share in the leading German index is turning its back on the Frankfurt stock exchange and will soon only be listed in New York.
The Ifo business climate for Germany, on the other hand, had hardly any impact on the stock market. Although the mood in the German economy continued to deteriorate in October, economists had expected a clearer slowdown. "The nervousness ahead of the key interest rate decision by the European Central Bank on Thursday remains high," said market expert Andreas Lipkow.
Around noon, the Dax fell 0.78 percent to 12,830.43 points, falling back below the 90-day line, which chart-oriented investors use as an indicator of the medium-term trend. The 50-day line, which was surpassed the previous day and is also a signal for the medium-term trend, held.
The MDax was recently unchanged at 23,240.29 points. The EuroStoxx recently fell by 0.35 percent.
SAP shares rose by up to almost five percent at times, but recently reduced their plus somewhat. Europe's largest software manufacturer received support from the weak euro and, last but not least, came through the difficult third quarter better than feared by experts. Analysts especially praised the strong cloud business.
The plastics group Covestro, on the other hand, missed the estimates with its operating result (Ebitda) and also lowered the earnings outlook at the upper end, as Jefferies analyst Chris Counihan complained. The papers lost 5.4 percent.
At minus 7.6 percent, Linde shares attracted the most attention among the Dax losers. The strong quarterly figures of the French competitor Air Liquide were hardly noticed. Rather, it is the planned farewell to the Frankfurt Stock Exchange that is such a burden. Linde has a market value of around 136 billion euros and is the heaviest of the 40 Dax stocks.
Adidas lost 3.7 percent and Puma 1.4 percent. The shares of the two sporting goods manufacturers were weighed down by negative analyst comments. On that day, US bank Morgan Stanley downgraded Adidas to underweight and Puma to equal-weight.
In the SDax, the shares of Amadeus Fire rose to the top with a plus of 6.3 percent. After the first nine months of strong sales, the personnel service provider specified its operational forecast for the year.
