Dax slightly in the minus

Frankfurt / Main (dpa) - On Wednesday, the Dax is oscillating between moderate gains and losses. After a two and a half percent increase on the previous day, the leading index fell in the afternoon by 0.52 percent to 10,673.70 points.

The MDax of the medium-sized values ​​tended to change little, increasing by 0.03 percent to 23,111.48 points.

Despite extremely negative economic and sentiment data, the Dax surprisingly remains around 10,700 points, said market expert Andreas Lipkow from Comdirect Bank.

A whole series of new data showed how cloudy the economic environment looks: In April, the private sector in the USA cut more than 20 million jobs. In Germany, industrial order intake fell far more sharply than expected in March, and retail sales in the eurozone also fell more than forecast in March. In addition, the mood of service providers in the euro zone, which were hit particularly hard by the restrictions on public life in the Corona crisis, fell to a historic low in April. Last but not least, the EU Commission's forecast is bleak: Due to the virus crisis, the eurozone economy is likely to shrink by 7.7 percent this year.

The reporting season continued on the corporate side. In the Dax, BMW shares took last place with a minus of 3.9 percent. The automaker suffered noticeably from the consequences of the Corona crisis in the first quarter and cut its earnings forecast for 2020.

The share certificates of the hospital and medical technology company Fresenius and those of the dialysis subsidiary FMC also increased by around 1 percent each. For the time being, Fresenius is sticking to its growth targets, but without including corona effects. Infineon paper climbed to the top of the index with a plus of 4.8 percent after a positive study.

Fraport shares fell 5.4 percent at the end of the MDax. The largely halting of passenger flights as a result of the corona pandemic tore the Frankfurt airport operator into the red as expected in the first quarter. The bottom line is that losses are also expected for the year as a whole.

As in the previous day, the current yield on the bond market was minus 0.54 percent. The Rex index rose by 0.04 percent to 145.34 points. The Bund future fell 0.19 percent to 173.92 points. The euro exchange rate, which temporarily fell below $ 1.08 during the day, stood at $ 1.0808 in the early afternoon. The European Central Bank had set the reference rate on Tuesday afternoon at $ 1.0843.