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Dax with losses - industrial data and oil price concerns

2021-07-07T17:42:55.289Z


Disappointing data from industry and the unstable situation on the oil market weighed on the Dax on Tuesday.


Disappointing data from industry and the unstable situation on the oil market weighed on the Dax on Tuesday.

Frankfurt / Main - The German benchmark index fell in early trading by 0.48 percent to 15 586.87 points.

The MDax was down 0.11 percent to 34,496.68 meters.

The leading Eurozone index EuroStoxx 50 lost 0.40 percent to 4071.22 points.

In May, German industry received significantly fewer orders than a month earlier.

Analysts, however, had expected an increase.

The weak foreign demand outside the euro zone was the main burden.

In view of the broken talks at Opec +, market analyst Milan Cutkovic also referred to the "oil price as a mood killer" and spoke of the gathering "dark clouds on the stock market sky, which is still summery".

Before the ZEW economic expectations of German financial experts were due for further important data later in the morning, individual stocks on the German stock market first came into focus.

For example, after good business in the first six months, the laboratory service provider and pharmaceutical supplier Sartorius became more confident about the year as a whole and announced a higher increase in sales than before.

Adjusted operating profit is also expected to be higher than previously expected.

The news was well received on the financial market: The Sartorius share, one of the favorites in the MDax, rose by 1.8 percent.

The wind turbine manufacturer Nordex provided information on its entire order situation in the second quarter.

Between April and June, almost 300 wind turbines were ordered for projects in nine countries with a total volume of just over 1500 megawatts, it said.

The papers of this MDax company gained 0.9 percent.

In contrast, the shop pharmacy's shares plummeted by around eight percent because, according to the drug mail order company, a “tense labor market” and “the move to the new location in Sevenum” are currently causing a temporarily reduced logistics capacity.

The growth slowed down temporarily in the second quarter, it said.

The management confirmed the annual targets, but now described them as challenging.

In the small cap index SDax, the stocks of the Austrian IT service provider S&T were in demand after a strong order intake, which rose by 3.2 percent as favorites.

"Operationally, S&T is on the best path, which is reflected in the strong order intake and will be reflected in good half-year figures," said CEO Hannes Niederhauser, according to the announcement, and confirmed the annual targets.

The annual report for the first half of the year is to be published on August 5th.

In the Dax, HeidelbergCement moved to the top of the index with a plus of 1.4 percent in view of a positive study.

Analyst Glynis Johnson from the investment bank Jefferies reiterated her buy recommendation and raised the price target.

In the second quarter, it again expects a strong earnings development (Ebitda) and has therefore raised its annual estimate.

dpa

Source: merkur

All news articles on 2021-07-07

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