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Stock market: price slide in the Dax due to inflation and Ukraine stress

2022-02-11T08:11:39.343Z


Inflation remains the dominant theme in the stock market and there is no good news from either the US or Germany. Consequence: The Dax drops significantly on Friday. Delivery Hero shares are also continuing to slide.


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Spellbound:

stockbrokers are keeping a close eye on inflation and the situation on the Russian-Ukrainian border

Photo: A3602 Frank Rumpenhorst/ dpa

Price losses: At the end of the stock market week, the Dax started trading with losses on Friday.

On Thursday it closed slightly higher at 15,490.4 points.

On the day after the surprisingly sharp increase in US inflation to its highest level in 40 years, price pressure and the central banks' reaction to it remain the dominant topic on the stock exchange floor.

A US central banker spoke out in view of the data for faster rate hikes.

The situation on the Russian-Ukrainian border is also a stress factor for the stock market: US President Biden has asked US citizens to leave Ukraine immediately.

The Dax was last listed 1.1 percent weaker at 15,329 points.

Delivery Hero shares, which had lost more than 30 percent of their market value yesterday, initially continued their fall on Friday and fell by a further 2.1 percent.

The publication of the German consumer prices for January offers additional discussion material on the stock exchanges.

The high price pressure in Germany eased somewhat in January for the first time in months.

Goods and services cost an average of 4.9 percent more than a year earlier, the Federal Statistical Office confirmed its first estimate on Friday.

In December, the inflation rate, driven by expensive energy, was still 5.3 percent and thus reached the highest value for almost 30 years.

"But it remains at a high level," said the President of the Statistics Office, Georg Thiel, about the development at the beginning of the year.

Wall Street closes much weaker

Concerns about an unexpectedly sharp rise in interest rates in the US as early as March in response to the sharp rise in inflation data weighed heavily on Wall Street on Thursday.

The Dow Jones index of standard values ​​closed with a discount of 1.5 percent at 35,241 points.

The broad S&P 500 fell 1.8 percent to 4,504, while the tech-heavy Nasdaq fell 2.1 percent to 14,185.

Asian investors cautious

The surprisingly high inflation and thus the prospect of a rapid tightening of monetary policy in the USA also made investors on the Asian stock exchanges more cautious on Friday.

In China, the CSI 300 with the 300 most important companies from mainland China recently fell by 0.8 percent to 4604 points.

The Hang Seng index in Hong Kong SAR fell 0.6 percent to 24,776 points in late trade.

Bitcoin is taking a breather

The world's best-known digital currency Bitcoin has initially interrupted its recent soaring.

Bitcoin was last listed on the Coinmarketcap platform at $43,318, around 1.5 percent lighter than the previous day.

Bitcoin has gained about 14 percent over the past week.

The cryptocurrency has been under latent pressure since the beginning of the year.

Bitcoin hit a record high of $69,000 in November last year.

Oil prices fall

Oil prices fell again slightly on Friday.

A barrel (159 liters) of the North Sea Brent cost 90.63 US dollars.

That was 78 cents less than the day before.

The price of a barrel of West Texas Intermediate (WTI) fell 58 cents to $89.30.

This means that oil prices are heading for their first weekly loss since mid-December.

Negotiations to revive the Vienna nuclear agreement on Iran's nuclear program from 2015 remain in focus. If an agreement is reached, Iran could export significantly more oil once the sanctions are lifted, which should push prices down accordingly.

With news agencies

Source: spiegel

All news articles on 2022-02-11

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