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Frankfurt stocks: Dax continues to slide after Ifo – Corona and inflation worries

Wednesday, 11/24/2021 12:19 PM from

dpa-AFX

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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 Dax fell by 0.85 percent to 15,800.92 points around noon and was thus further behind the latest record of 16,290 points. The MDax dropped 1.25 percent to 34,616.27 points. On the European stage, the leading Eurozone index EuroStoxx 50 fell somewhat more moderate by 0.6 percent.

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.

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Another big loser in the SDax were the ceconomy – Shares with a price slide of 8.8 percent. They fell well below the new EUR 4 target from Barclays expert Nicolas Champ. He expects that possible new corona restrictions, supply chain problems and ambitious comparative figures will continue to create problems for the electronics retailer. In addition, there is the uncertainty about the intended takeover of the minority shares of the major shareholder Convergenta.

The shares of the Dax group Vonovia (Vonovia share) were also conspicuous. , which in the course of a capital increase for the takeover of the competitor Deutsche Wohnen are traded ex subscription right. Vonovia subscription rights were most recently listed at EUR 3.39 and the share at EUR 49.72 – a good EUR 53 in total. The day before, the papers had gone from trading at EUR 52.72./tih/mis

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