Stock exchange in Frankfurt: Weak trend on the stock market continues

Under the impression of weak economic data from China, the Dax continued its rather slow week on Wednesday.

Stock exchange in Frankfurt: Weak trend on the stock market continues

Under the impression of weak economic data from China, the Dax continued its rather slow week on Wednesday. Wall Street ultimately gave him no boost either. The leading German index closed down 0.57 percent to 14,261.19 points, remaining within the range of the last three weeks.

The MDax of medium-sized German stocks fell by 1.42 percent to 25,263.08 points in the middle of the week. As it became known on Wednesday, weak global demand and corona lockdowns caused Chinese foreign trade to collapse in November.

The most important stock market barometers also tended to be weaker throughout Europe. The Eurozone leading index EuroStoxx 50 closed at 3920.90 points with minus 0.46 percent. The leading indices in Paris and London also ended the day with losses. In New York, the leading US index, the Dow Jones Industrial, was down 0.2 percent at the end of trading in Europe, while technology stocks again fell more significantly there.

Airbus shares lost 2.2 percent in the Dax. The aircraft manufacturer cannot deliver as many new jets as planned this year. One stockbroker rated the news that Airbus is putting the pace of production expansion for the much-demanded medium-haul jets of the A320neo family to the test as a price burden.

Negative news from the US fertilizer manufacturer Mosaic caused the shares of the German competitor K S to slip by a good seven percent in the MDax. Mosaic is temporarily reducing production at a Canadian mine due to lack of demand.

Gerresheimer's shares widened their price slide from the previous day and buckled by 6.3 percent. The manufacturer of special packaging disappointed with its outlook on Tuesday as part of the capital market day.

The shares of the asset manager DWS, on the other hand, gained 2.7 percent in the SDax small-cap index. A stockbroker referred to the positive statements from the capital market day and rated the prospect of an extraordinary dividend in 2024 as a real surprise.

Morphosys stocks rose 1.8 percent, driven by a licensing deal for potential cancer drugs to Swiss pharmaceutical company Novartis.

The euro was trading at $1.0497 after the market close. The European Central Bank (ECB) had set the reference rate at $1.0529 (Tuesday: $1.0516) in the afternoon. The dollar had cost 0.9498 (0.9509) euros.

On the bond market, the current yield fell from 1.81 percent on the previous day to 1.75 percent. The Rex pension index rose by 0.66 percent to 129.17 points. The Bund future fell by 0.08 percent to 142.75 points.

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