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Stock exchange in Frankfurt: The Dax is fighting for the 13,000 point mark
Photo:
Rupert Oberhäuser / imago images
Recovery aborted: After its strong price gains on Monday, the Dax turned negative again on Tuesday morning and threatens to fall again below the 13,000 point mark.
Tech company stocks in particular continued their recent weakness on Tuesday.
In the European industry overview, they were the weakest with a discount of two percent.
In the US, after the sell-off on the Nasdaq in the previous week, further losses in the technology sector are on the horizon.
There was no trading in New York on Monday due to a public holiday.
In particular, the shares of the electric car pioneer
Tesla
will again be in the spotlight on Tuesday.
Investors had speculated in recent months that Tesla will be included in the US S&P 500 index after three consecutive earnings quarters.
This hope was dashed on Monday evening.
After the decision of the index provider S&P not to include Tesla, the shares in European trading fell again ten percent.
New tensions in the trade dispute between the USA and China also had a negative impact.
Technology companies, with their global links in supply chains, for example in the semiconductor sector, usually suffer from this in particular.
On the German stock market on the second trading day of the week, the papers of the chip company Infineon were the shot light in the
Dax
with a minus of more than two and a half percent.
The titles of the software company SAP lost more than one and a half percent.
In the past week, the leading indices Dow Jones, Nasdaq and S&P 500 lost up to 3.3 percent.
Investors are also keeping an eye on the auto summit of politics and business with Chancellor Angela Merkel.
In addition, investors continued to closely monitor the course of the Brexit negotiations.
There are also figures on the German trade balance and economic growth in the euro zone on the schedule.
According to market experts, the hope of a loose monetary policy by the European Central Bank (ECB) on Thursday gave a boost.
Although no changes are currently expected, there are hopes for "further easing in due course," as the experts at Societe Generale wrote, among others.
Strong gains were also made on the Paris and London stock exchanges while there was no trading in the US due to a public holiday.
Dax, Dow and stocks at a glance:
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US stock exchanges and Brexit at a glance
According to the Helaba experts, investors are waiting for US investors to return to the market, because at the start of the week, the trading floors in the US were closed for Labor Day.
The negotiations on a trade pact between the European Union and Great Britain after Brexit are also increasingly in focus.
These are currently going into the next round.
The aim is to avoid trade barriers such as tariffs and economic chaos after the end of the Brexit transition period, but British Prime Minister Boris Johnson also stressed that a Brexit without a treaty would be "a good result for the UK".
Energy companies such as RWE and Eon could be worth a look among the individual values on the German market.
However, both were almost unchanged on the Tradegate trading platform compared to the close of trading on Xetra.
The EU Commission apparently wants to propose a significant tightening of the climate target for 2030: Instead of 40 percent, greenhouse gases should fall 55 percent below the 1990 level.
That is what it amounts to as things stand, it was said from EU circles.
Lufthansa could tighten savings plans
Aviation stocks could also attract attention.
Lufthansa boss Carsten Spohr is revising his strategy in response to the crisis.
As the "Handelsblatt" reports, a new start should make further cost savings and thus additional job cuts necessary.
The Lufthansa share fluctuated on Tradegate between moderate gains and losses and recently fell by 0.5 percent.
The papers of the airport operator Fraport, which announced its weekly traffic data, went up by 1.2 percent.
Asia's stock markets mixed
In the Asian stock markets, the Japanese stock exchange regained a foothold on Tuesday after a slight loss at the start of the week, the stock exchange in Shanghai continued to slide.
US President Donald Trump tightened his tone towards China by once again putting the idea of decoupling the US and Chinese economies on the table.
Technology providers in particular are a thorn in Trump's side.
"These tech stocks have gotten expensive, so I would view their recent decline as a healthy correction," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management on Tuesday.
Investors also have doubts that US policymakers may not be ready to provide the massive boost they hoped for.
"Markets may have gone too far to expect the Federal Reserve to announce further easing this month," said Masahiko Loo, portfolio manager at AllianceBernstein.
Euro
hardly changed
The 225-value Nikkei Index climbed 0.5 percent to 23,211 points, despite government data showing a record decline in Japanese gross domestic product as a result of the coronavirus pandemic.
The broader Topix index rose 0.1 percent to stand at 1612 points.
The Shanghai stock exchange was 0.3 percent in the red.
The index of the most important companies in Shanghai and Shenzen lost 0.4 percent.
The MSCI index for Asian stocks outside of Japan fell 0.2 percent.
In Asian foreign exchange trading, the dollar was almost unchanged at 106.28 yen, up 0.1 percent to 6.8355 yuan.
In relation to the Swiss currency, it was quoted 0.2 percent higher at 0.9174 francs.
In parallel, the euro fell 0.1 percent to 1.1810 dollars and rose 0.2 percent to 1.0838 francs.
The pound sterling lost 0.1 percent to $ 1.3148.
Oil
prices
continue to
decline
Oil prices also fell on Tuesday.
The price for crude oil from the USA in particular fell sharply in the morning.
A barrel (159 liters) of North Sea Brent cost 41.91 US dollars last.
That was ten cents less than the day before.
The price for a barrel of the US West Texas Intermediate (WTI), however, fell significantly more by 81 cents to 38.96 dollars.
In the oil market, concerns about new trade disputes between the US and China have come back into focus.
The trigger was statements by US President Donald Trump.
Accordingly, the US's economic relations with China are to be curbed.
A trade conflict between the two largest economies in the world had slowed the global economy in the period before the Corona crisis and caused demand for crude oil to fall.
Trump had not made it clear when he wanted to implement the tougher course in relation to China.
In the oil market, the statements were interpreted as a political agenda for a possible second term in office for the American president.
akn / mg / dpa-afx, Reuters