Stock market: Dax turns negative, Airbus share under pressure

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Deutsche Börse in Frankfurt am Main:

The Dax struggles with the 13,000 point mark

Photo: MAXIMILIAN VON LACHNER / EPA

The 13,000 points remain a high hurdle for the Dax in the middle of the week.

The day before he hadn't managed to break the round mark in the long term.

Now he started a new attempt with initially reached 13,020 points, but this was only short-lived.

Investors' interest rate concerns remain: They quickly went on the defensive again in the face of inflation data from the euro zone.

With 12,935 points recently, the Dax turned 0.20 percent into the red.

The same applied to the MDax, which recently fell by 0.28 percent to 25,321 points, while the euro zone's leading index, the EuroStoxx 50, fell by just 0.04 percent.

A Dax loss of a little more than 4 percent is emerging for August.

The German price barometer had climbed to almost 14,000 points by the middle of the month before interest rate and recession worries coupled with the energy crisis cost it around 1000 points on balance.

Rising interest rates and economic worries are currently not good conditions for price gains on the stock market.

Inflation in the Eurozone

In the morning, the focus will be on consumer prices in the euro zone for August.

Inflation is high and the European Central Bank (ECB) is under pressure to raise interest rates - with the associated risk that a recession could follow.

However, persistently high inflation harbors even greater economic risks.

Inflation data from the euro zone should have a significant impact on the ECB's decision to raise interest rates by 0.50 or 0.75 percentage points at next week's meeting, Commerzbank said in the morning.

SAP brings chief financial officer from Airbus

Automotive stocks were in general demand:

,

and

made it to the top of the Dax with increases of up to 1.3 percent.

The positive mood in the industry was justified with Renault.

Speculations that the Chinese Geely group and an unspecified oil company were in talks about a stake in the combustion engine business helped the papers of the French competitor to rise by 3.4 percent.

According to news,

was 1.6 percent weaker in the Dax, while

rose by 0.6 percent.

A high-ranking manager change caused a stir in the two index values: CFO Dominik Asam will leave the aircraft manufacturer at the beginning of March next year and move to the software group in the same role.

Price slide in the USA

On Wall Street, fears of a severe economic downturn remain pervasive.

After a slide on Friday and further discounts at the beginning of the week, the most important US indices quickly turned into the red on Tuesday and closed around one percent lower.

After moderate gains in early trading, the leading index

finally fell by 0.96 percent to 31,790 points and was thus at the level of the end of July.

The market-wide

500 lost 1.10 percent to 3986 points.

The tech-heavy

fell 1.13 percent to 12,342 points.

losses in Asia

In the wake of another weak Wall Street, the Asian stock exchanges moved down on Wednesday.

In Tokyo, the Nikkei index fell 0.4 percent to 28,091 points.

The broader

fell 0.3 percent.

The

stock exchange fell 0.4 percent.

Bitcoin surges above $20,000

The digital currency bitcoin has recovered slightly from the price slide of the previous day.

The cyber currency was last listed on the Bitstamp trading platform at 20,237 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 are recovering

On Wednesday, oil prices recouped some of the sharp declines seen on the previous day.

Most recently, a barrel (159 liters) of North Sea Brent cost 100.01 US dollars.

That was 70 cents more than on Tuesday.

The price of a barrel of the US West Texas Intermediate (WTI) variety rose by $1.07 to $92.71.

After significant increases at the start of the week, oil prices fell sharply on Tuesday.

Analysts have long been pointing to sometimes high price fluctuations over the course of the day.

The decisive factor is the continuing uncertainty due to a large number of risk factors.

In addition to the Ukraine war, these include current political unrest in the oil-rich countries of Iraq and Libya.

Meanwhile, demand is characterized by economic fears.

In view of numerous negative factors, including high global inflation, the economic prospects are poor for large parts of the world.

Europe is particularly affected given its high dependency on Russian natural gas and sharply reduced gas supplies from Russia.

With news agencies