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Deutsche Börse in Frankfurt am Main:
Investors look at US consumer spending on Thursday
Photo:
Boris Roessler / dpa
The Dax fell to its lowest level since March on Thursday.
In the first hour of Xetra trading, the leading German index lost 2.08 percent to 12,733 points.
The
MDax
of medium-sized stocks fell by 1.91 percent to 25,876 points.
The leading eurozone index , the
EuroStoxx 50
, fell by 2 percent.
Positive economic signals from China did not help.
The Dax is in the so-called bear market.
With a loss of almost 20 percent, the balance sheet for the first half of the year is sobering.
The barometer is also almost 22 percent or almost 3600 points below the record high reached in November.
The turnaround in interest rates, the war in Ukraine and fears of inflation and recession are weighing on stock markets worldwide.
In terms of charts, the Dax is not looking good at the moment, according to analyst Jochen Stanzl from broker CMC Markets.
The index is now threatened with another crash of over 1500 points from the current level if the low for the year from the beginning of March does not last.
The Dax had reached this at 12,438 points.
Uniper share falls in double digits
Uniper
shares fell by 17 percent
after the power plant operator dropped its earnings forecasts for the current year due to the restricted gas supplies from Russia and talked to the federal government about stabilization measures.
Uniper must ask the German taxpayer for a rescue and the warning makes it clear how critical, if not downright dangerous, the current situation is if the Federal Network Agency does not determine and announce the gas shortage soon, said a trader.
With a minus of more than 6 percent, SAP
set course for its corona low of March 2020 at a good 82 euros.
A downgrade from "Outperform" to "Neutral" by the French investment bank Exane BNP Paribas had a negative effect.
The investment story of the software group remains complicated, wrote analyst Stefan Slowinski.
He sees demand risks because investments in software are likely to be increasingly put to the test.
Investors avoided technology stocks as a whole.
Auto stocks, which are sensitive to the economy, were also avoided.
Continental
and
Mercedes-Benz
were among the biggest losers in the Dax with discounts of up to 3.5 percent.
US stock markets changeable
The guesswork about the further monetary policy course of the US central bank does not give rise to a buying mood on Wall Street.
The American stock indices presented themselves changeable on Wednesday.
The
Dow Jones index
of standard values closed 0.3 percent higher at 31,029 points.
The technology -heavy
Nasdaq
was recently listed little changed at 11,177 points.
The broad
S&P 500
lost 0.1 percent to 3818 points.
Asian exchanges mixed
Asian stock markets failed to find a common direction on Thursday.
While slowing industrial production in Japan unsettled investors, economic data in China lifted sentiment.
In Tokyo, the Nikkei index slipped 1.7 percent to 26,354 points.
The broader
Topix index
fell 1.2 percent.
Supply problems with chips and the lockdowns in parts of China caused production in Japan to fall by a seasonally adjusted 7.2 percent.
Analysts had only expected a 0.3 percent decline.
"The slump in industrial production in May suggests that Japan's recovery is disappointing once more," said Capital Economics analyst Marcel Thieliant.
The
Shanghai
stock exchange , on the other hand, was up 1.4 percent.
Industrial production in China grew again for the first time in three months as measures to contain the corona pandemic were relaxed.
The official purchasing managers' index (PMI) for manufacturing rose to 50.2 in June from 49.6 in May.
For the first time since February, the barometer was above the threshold of 50, above which growth is signalised.
Bitcoin is hovering around the $20,000 mark
The world's best-known digital currency, Bitcoin, was last listed on the Bitstamp trading platform at 19,950 US dollars.
The cryptocurrency has been under pressure since the beginning of the year.
Bitcoin hit a record high of $69,000 in November last year.
Oil prices hardly changed
Oil prices did not move much on Thursday before negotiations by the Opec+ subsidy association.
In the morning, a barrel (159 liters) of North Sea Brent cost $116.04.
That was 22 cents less than the day before.
The price of a barrel of the US West Texas Intermediate (WTI) variety rose by 15 cents to $109.93.
A surprisingly sharp drop in US oil reserves failed to give oil prices a major boost this morning.
The day before, the US government reported that inventories of crude oil fell by 2.7 million barrels to 415.6 million barrels last week.
On average, analysts had expected a drop of one million.
Declining oil reserves usually support oil prices.
In the further course of trading, an online conference of Opec+ will be the focus.
The more than 20 countries led by Saudi Arabia and Russia are expected to keep turning on the oil tap.
Most recently, the alliance decided to increase production by 648,000 barrels per day in July.
A similar step has already been envisaged for August.
With news agencies