Frankfurt stocks: Dax continues to slide after Ifo – Corona and inflation worries
View of the city of Frankfurt. The Main metropolis is one of the most important European financial centers. pixabay.com
FRANKFURT (dpa-AFX) – Corona and inflation worries also clouded investor sentiment on the German stock market on Wednesday. After falling below 16,000 points on Tuesday, a hoped-for turnaround failed to materialize, and the Dax fell below its previous day’s low. Another deterioration in sentiment in the German economy also deepened investor concerns.
The Ifo business climate deteriorated in November for the fifth time in a row. According to the experts at Commerzbank (Commerzbank share), this is mainly due to the fourth corona wave, which is currently breaking through Germany. For a few days now, this has been a key argument for falling share prices among stock market traders – supplemented the day before by renewed concerns about inflation and interest rates.
“At best, the German economy should stagnate in the winter half-year,” said Commerzbank chief economist Jörg Krämer, drawing a negative conclusion. The pandemic is not only affecting the business prospects in trade and services, but also the manufacturing industry, because supplies from China will continue to stall because of the zero corona strategy practiced there.
The day’s agenda remains full in the middle of the week: In the afternoon, on the day before the American “Thanksgiving” holiday, a lot of US economic data is still accumulating, and in the evening the minutes of the most recent US Federal Reserve meeting follow. Credit Suisse estimates this to be the case
On the company side, the shares of Drägerwerk broke
In the particularly weak MDax, however, were the shares of Aixtron
Otherwise, the canceled buy recommendation by an analyst also had the effect of moving the share price: the shares of SMA Solar
Another big loser in the SDax
The shares of the Dax group Vonovia (Vonovia share) were also conspicuous.
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