Ukraine war and company prospects weigh on the Dax
Created: 03/01/2022Updated: 03/01/2022 12:35 p.m
The Dax is the most important stock index in Germany.
© Fredrik von Erichsen/dpa
The Dax continued its series of losses on Tuesday under the impact of the war in Ukraine.
The leading German index was also burdened by high price losses at previous corona beneficiaries such as Zalando and Hellofresh, whose outlook was disappointing.
Frankfurt/Main - By midday, the leading German index, which initially started with moderate discounts, significantly increased its losses.
Most recently, there was a minus of 2.07 percent to 14,162.21 points.
This is also getting closer to the 14,000 mark, below which the Dax fell immediately after Russia's attack on Ukraine last week.
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The MDax, the course barometer for medium-sized stocks, recently lost 1.66 percent to 31,344.08 points.
On the European stage, the Eurozone leading index EuroStoxx 50 fell 2.38 percent to 3830.86 points.
Defense stocks remain in demand
Michael Heise, chief economist at asset manager HQ Trust, stated that the development of the coming months will be characterized above all by great uncertainty about Russian oil, gas supplies and sanctions in the financial sector.
The central banks could now approach the planned rise in interest rates a little more cautiously.
Defense stocks remained in demand.
Rheinmetall shares rose by more than eight percent at the top of the MDax.
The day before they had increased by almost a quarter in view of the planned billions in investments in the equipment of the Bundeswehr.
Meanwhile, the earnings season shifted up a gear again.
Nivea manufacturer Beiersdorf led the Dax after the announcement of the annual figures and a well-received outlook with a price premium of around four percent.
The papers climbed to their highest level since mid-November.
Zalando holds the red lantern
In addition, there were only a few other price winners in the leading German index.
According to the balance sheet presentation, the agrochemical and pharmaceutical group Bayer, the plastics manufacturer Covestro and the flavor and fragrance specialist Symrise also posted increases of up to around two percent.
On the other hand, many corona profiteers were under pressure again.
The online fashion retailer Zalando and the recipe box mailer Hellofresh are preparing for less growth in 2022 after recent strong growth.
Zalando papers held the red lantern in the Dax with around nine percent minus, for Hellofresh it went down around eight percent.
dpa