Dax investors cautiously optimistic – Hamburger Abendblatt

Frankfurt/Main. Investors on the German stock market held back on buying shares on Tuesday. After the turbulence of the past week and a recovery movement on Monday, “cautious optimism” prevails, market analyst Jochen Stanzl from CMC Markets commented on the mood. “Despite the uncertainties in the banking sector, investors are confident that the German economy will be able to withstand the numerous crises in the coming months.” At the same time, they probably wanted to wait and see how the situation would develop.

Last but not least, people are eagerly awaiting the inflation data for Germany and the euro zone on Thursday. Consumer price data from the US will then be released on Friday.

The leading index Dax ended the day up 0.09 percent to 15,142.02 points. The MDax of medium-sized stocks fell by 0.57 percent to 26,562.42 points.

The Eurozone leading index EuroStoxx 50 went up 0.09 percent to 4168.21 points. It was similar in Paris and London. In the US, the Dow Jones Industrial was up 0.3 percent at the close in Europe, while the tech-heavy Nasdaq indices fell.

In this country, the slide in real estate values ​​continued after a breather on Monday. The European industry index, which has mostly been in downward mode since the beginning of February, fell to its lowest level since mid-October. An unfavorable mix of rising interest rates and high inflation is causing problems for stocks. Higher interest rates make it more difficult to refinance real estate and reduce their future value from today’s perspective – further write-downs are imminent.

This hit the Aroundtown shares particularly hard, which fell by 10.2 percent at the end of the MDax and reached a record low. The commercial real estate specialist will present its annual figures on Wednesday.

Among the other MDax stocks, LEG lost 6.5 percent and TAG 3.7 percent. In the Dax, Vonovia’s shares held the red lantern with a minus of 6.0 percent. In addition, Grand City Properties with minus 6.7 percent and Deutsche Wohnen with minus 4.2 percent were among the weakest stocks in the SDax.

Norma’s shares fell there by 7.7 percent. When presenting its detailed annual figures, the fastening technology specialist disappointed with a dividend cut to EUR 0.55 per share. In addition, the forecast for the operating profit margin for the current year is below the average estimate of the analysts.

Meanwhile, a tense calm returned to the banking industry. The German financial regulator Bafin is relaxed about the local banking market after the collapse of the Californian Silicon Valley Bank and the emergency takeover of Credit Suisse. But the nervousness remains high. The Deutsche Bank papers, which were still on a recovery course at the start of trading, ultimately lost 1.6 percent. Commerzbank shares, on the other hand, recovered for the second trading day in a row with a price increase of 1.6 percent.

The euro was trading at $1.0843 early in the evening. The European Central Bank set the reference rate at 1.0841 (Monday: 1.0773) dollars. The dollar thus cost 0.9224 (0.9282) euros.

The prices of German Bunds fell significantly. On the other hand, the current yield rose to 2.32 percent from 2.18 percent the previous day. The Rex pension index lost 0.58 percent to 126.08 points. The Bund future fell by 0.18 percent to 136.00 points.

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