Inflation forecasts: Dax slips significantly into the red
Created: 03/23/2022Updated: 03/23/2022 15:48
The Dax is the most important stock index in Germany.
© Fredrik von Erichsen/dpa
The German stock market slipped further into the red on Wednesday until the afternoon.
The leading index Dax was last listed 1.46 percent lower at 14,261.43 points.
Frankfurt/Main - The MDax of medium-sized stock exchange groups lost 1.07 percent to 31,572.25 points.
The leading eurozone index, the EuroStoxx 50, fell by around 1.6 percent.
Dax slides into the red: Ifo Institute expects inflation between 5.1 and 6.1 percent
In the morning, new inflation forecasts caused the downward trend.
The Ifo Institute expects inflation in Germany to be between 5.1 and 6.1 percent in 2022.
That would be the highest rate since 1982. Statements by Russian President Vladimir Putin that "enemy states" should pay for natural gas in rubles also weighed on the mood.
The shares of LPKF reacted to the business figures, the outlook and the canceled dividend of the laser specialist with a price slump of 18.4 percent.
The company's business targets are very disappointing, a trader commented in the morning.
The Auto1 title, which had been badly battered in recent months, lost another 17.5 percent despite better than expected numbers and reached another record low.
The outlook for 2022 is likely to dampen market expectations, wrote analyst Adam Berlin from the Swiss bank UBS in an initial assessment.
Dax: Delivery Hero with a loss of over 60 percent
After the most recent recovery, Delivery Hero's shares fell significantly again with minus 7.5 percent.
With a loss of over 60 percent, they are the weakest value in the Dax family this year.
more on the subject
Dax ends recovery week in positive territory
Dax unchanged after ups and downs
Dax loses 0.3 percent – investors more cautious again
The euro fell and last cost 1.0981 US dollars.
The European Central Bank (ECB) had set the reference rate at $1.1024 the day before.
The dollar had thus cost 0.9071 euros.
On the bond market, the current yield fell from 0.34 percent on the previous day to 0.33 percent.
The Rex pension index rose by 0.10 percent to 139.56 points.
The Bund future gained 0.21 percent to 159.73 points.
dpa
