ROUNDUP / Frankfurt Stocks End: Dax due to inflation concerns with quarterly loss

FRANKFURT (dpa-AFX) – Investors on the German stock market remained nervous on Thursday. Because of ongoing concerns that the markets could soon be throttled because of rising inflation, the Dax ( DAX 40 ) fell 0.68 percent at 15 260.69 meters from the trade. The MDAX with the medium-sized stocks lost 0.44 percent to 34 369.69 points.

Investors have been worried about rising inflation while the economic upturn is slowing at the same time. The concerns were heightened by new inflation data. In Germany, inflation in September, fueled by high energy prices, exceeded the four percent mark for the first time in almost 28 years. With this, market observers see the danger of an imminent countermeasure by the European Central Bank (ECB) being confirmed , 6 percent honored. The leading index thus also recorded the first weak quarter since the corona-related crash in spring 2020: it lost 1.7 percent in the past three months.

“The The ECB feels uncomfortable in view of the price developments. That was already clear at the last central bank meeting, “wrote Thomas Gitzel, chief economist at VP Bank. “With the recent rise in energy prices, the tone has already been set for the next interest rate meeting. An extension of the ECB’s pandemic emergency purchase program beyond March 2022 is currently out of the question.”

The prospect of possibly imminent interest rate hikes by the central banks had pushed the Dax to a multi-month low near 15,000 points in the previous week. It is true that more buyers had been found at this low price level. In contrast to previous setbacks, investors then found it difficult to buy again.

While the Dax turned down again on Thursday, some sectors were among the individual stocks asked who had recently come under particular pressure. These included above all the shares of corona winners from the medical sector. Shares in the laboratory supplier Sartorius ( Sartorius vz ), the pharmaceutical company Merck or the diagnostics group QIAGEN continued their recovery from the previous day with gains of between one and 1.8 percent. and Eon ( EON SE ) with discounts of 2.8 and 1.4 percent. Energy companies are often avoided by investors when rising interest rates and thus higher financing costs become apparent. The same applies to real estate, here the shares of Vonovia ( Vonovia SE (ex Deutsche Annington) ) fell by 2, 2 percent.

The price of the DIY store holding HORNBACH , on the other hand, shot to a record high after the quarterly figures were presented. In the end, there was an increase of 8.6 percent on the price board. The better than expected quarterly figures and even more optimism on the part of the Management Board with regard to the annual forecast were convincing here.

Knaus Tabbert put investors on the other hand with a withdrawn annual forecast. The papers of the motorhome manufacturer fell 5.8 percent to a low for a month. The company is struggling with delivery bottlenecks and has to temporarily shut down production at two locations.

The Eurozone leading index EuroStoxx 50 ( EURO STOXX 50 ) lost 0.79 percent to 4048.08 points. The Parisian CAC 40 lost 0.6 percent and the London FTSE 100 0.3 percent. In New York the Dow Jones Industrial ( Dow Jones 30 Industrial ) was last at 0, 9 percent in the red.

The euro slipped below USD 1.16 on Thursday to its lowest level in 14 months. Most recently, the common currency cost $ 1.1576. The European Central Bank (ECB) set the reference rate at 1.1579 (Wednesday: 1.1654) dollars. The dollar cost 0.8636 (0.8581) euros.

On the bond market, the current yield remained at minus 0.30 percent. The bond index Rex ( REX total price index ) rose slightly by 0.04 percent to 144 , 41 points. The Bund future fell by 0.07 percent to 169.88 points./tih/jha/

— By Timo Hausdorf, dpa-AFX – –