Dax continues losing streak
Created: 01/24/2022, 10:16 am
The Dax is the most important stock index in Germany.
© Fredrik von Erichsen/dpa
Frankfurt Stock Exchange
Frankfurt/Main - The recent slide on the German stock market has continued.
Analyst Jochen Stanzl from CMC Markets referred to a "risk mix of geopolitical tensions, a rising oil price and thus the prospect of continued high inflation rates and higher interest rates".
The Dax was down 1.00 percent in early trading at 15,448.14 points.
On Friday, the leading German index had already lost almost 2 percent due to increasing interest rate fears.
The MDax lost 1.53 percent on Monday morning to 33,127.57 points.
The impending military conflict between Russia and Ukraine is becoming more and more of a burden for the markets.
In the face of the massive tensions, the US State Department has meanwhile ordered the families of diplomats to leave the US embassy in Kiev.
A solution seems far away at the moment.
"An escalation remains a serious risk factor for the stock exchanges," warned market expert Timo Emden from Emden Research.
In the new stock market week, investors should also pay attention to quarterly reports from US technology companies and the results of the US Federal Reserve Board (Fed) meeting on Wednesday.
According to the experts at Commerzbank, the press conference at which Fed Chairman Jerome Powell is likely to announce the pace of interest rate hikes is being eagerly awaited.
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Among the individual stocks, the shares of Delivery Hero stood out negatively.
They fell by 4.8 percent and were thus the clear bottom of the Dax.
This means that they have already increased their losses by more than a quarter in what has been a short year so far.
Commerzbank shares were virtually unresponsive to news that the bank is bracing for further strain amid uncertainty surrounding foreign currency lending in Poland.
For 2021 as a whole, the bottom line is that management continues to expect to be in the black.
According to a press report, Lufthansa could seek a 40 percent stake in Alitalia's successor company ITA Airways.
Both sides are close to an agreement, reported the Italian newspaper Il Foglio.
Lufthansa papers lost 2.1 percent.
Hannover Re shares fell by 0.3 percent.
The Swiss bank Credit Suisse downgraded the shares to "neutral".
dpa