Dax investors remain cautious – Hamburger Abendblatt

Frankfurt/Main. Investors in the German stock market also held back on Tuesday. In early trading, the Dax was practically unchanged at 15,963.78 points, after having lost a good 0.5 percent the day before. The MDax fell by 0.2 percent on Tuesday morning to 27,028.42 points. The EuroStoxx 50 also fell by 0.2 percent.

“It is still unclear which direction the Dax will take. And so long many remain under cover. New entries and profit-taking are roughly balanced. The fear of being positioned on the wrong side in the next big movement has increased significantly recently,” explained market analyst Thomas Altmann from QC Partners.

After the recently settled US debt dispute, interest rate developments are once again in the foreground. The experts at Credit Suisse believe that there is a 70 percent probability that the US Federal Reserve will raise interest rates again in June or July and expect the tightening course to continue for some time to come. However, voices in the market are getting louder and louder, who see signs of a weakening of the US economy and thus an imminent interest rate break in the latest economic data.

Symrise shares rose by 0.6 percent. As expected, the fragrance and flavor manufacturer submitted a mandatory offer to acquire Swedish pet food specialist Swedencare. However, the offer of 37.50 Swedish crowns per share is well below Monday’s closing price of 42.07 crowns. After a positive comment from the private bank Berenberg, RWE shares rose by half a percent.

With a decline of 0.5 percent, the papers of the semiconductor group Infineon were among the weaker values ​​in the Dax. The world’s largest chip contract manufacturer TSMC estimated its investment plans for 2023 somewhat more cautiously than before.

The shares of the real estate financier Deutsche Pfandbriefbank reacted with a minus of 4.0 percent to a sell recommendation from Citigroup and fell to their lowest level since October 2022. Analyst Borja Ramirez Segura justified the downgrade with the fact that the commercial real estate markets are in a downturn with falling prices and falling investor demand.

Changes are pending in the composition of the leading German indices: on June 19, Deutsche Börse will include the shares of Evotec, Krones, Software AG and Shop Apotheke in the MDax. In return, Aroundtown, United Internet and Siltronic Adtran have been relegated to the SDax small-cap index.

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