FRANKFURT (dpa-AFX) – After seven trading days with records, the DAX showed moderate results on Wednesday. Investors are becoming more nervous, especially since the US stock markets are expected to be weaker again after losses on Tuesday. Surprisingly strong trade data from China, which had been supportive in the morning, faded into the background. The economic data from the USA published in the afternoon was mixed, which is why they provided little impetus.
The leading German index fell by 0.5 percent to 25,307 points after surpassing the 25,500 point threshold for the first time the day before. The MDAX, the index of medium-sized stock market stocks, recently fell by 1.4 percent to 31,800 points.
“Behind the records, caution is growing,” wrote the analysts at Index-Radar. But even if there was a “quiet retreat” on the stock market in the USA the day before, there could be no question of capital flight. However, the market is now increasingly expecting greater stock market fluctuations.
In the USA, producer prices rose more than expected in November compared to October. At the same time, however, retail sales increased more significantly than expected.
Among the DAX stocks, FMC (Fresenius Medical Care (FMC) St) fell to its lowest level since November 2024 with minus 4.4 percent. In a study on the dialysis specialist, JPMorgan analyst David Adlington referred to the US flu season, which started in December and therefore earlier than expected. As a result, more treatments were missed, which is why management is checking whether the effects are only limited to treatment adherence or also affect mortality.
DHL (DHL Group (ex Deutsche Post)) lost 1.1 percent and suffered from a buy recommendation from US bank Goldman Sachs that was removed for valuation reasons.
Bayer (Bayer), on the other hand, gained 5.5 percent at the top of the Dax. The group underpinned its growth ambitions in the pharmaceutical business. “We now have five big blockbuster candidates,” said the head of the pharmaceutical division Stefan Oelrich to the financial news agency dpa-AFX during the JPMorgan Healthcare Conference in San Francisco. The manager therefore expects “extremely good” growth in the coming years into the 2030s. In addition, a decision by the US Supreme Court on whether to accept a potentially groundbreaking case in the US legal disputes surrounding glyphosate could soon be pending.
RWE (RWE) rose by 1.6 percent. Analysts such as those at Bernstein Research see the energy company as the winner of the wind power auctions in Great Britain. It was said that RWE had secured the lion’s share of the tendered projects at sea. The investment company KKR also announced a strategic partnership with RWE.
United Internet (United Internet) were at the bottom of the MDax with a loss of 4.6 percent. MWB Research does not see any new price drivers after the successful migration of 1&1 mobile customers and the internal sale of Versatel. The share price has risen by around 25 percent since mid-November and further upward potential is no longer visible given the current valuation, wrote analyst Thomas Wissler and deleted his buy recommendation./ck/mis
— By Claudia Müller, dpa-AFX —