Frankfurt (Reuters) – After the record run in the previous week, Dax investors are cautious.
The leading German index fell by 0.6 percent to 16,099 points at the opening on Tuesday. “So far, only a few have thought of taking profits,” said portfolio manager Thomas Altmann from asset manager QC Partners. “As long as the 16 is in front, the atmosphere on the floor should remain good.”
However, the gloomy outlook of the specialty chemicals group Lanxess put a damper on the entire industry. Lanxess shares fell more than 16 percent to their lowest level in more than three years after the group lowered its annual forecast due to general weakness in demand. The plastics group Covestro lost more than five percent, followed by the chemical giant BASF with a price loss of three percent. Wacker Chemie stocks fell by four percent.
(Report by Stefanie Geiger, edited by. If you have any questions, please contact our editorial team at [email protected] (for politics and the economy) or [email protected] (for companies and markets)