FRANKFURT (dpa-AFX) – On Monday, the largely lethargic Dax (DAX 40) only moved a little more strongly in the afternoon – namely downwards. The leading German index came under slight pressure after disappointing US economic data. In addition, the President of the European Central Bank (ECB), Christine Lagardebefore the Economic and Monetary Affairs Committee of the European Parliament in prospect of further interest rate hikes.
After gaining more than 16,000 points before the weekend in the course of the settlement of the US debt dispute, the Dax has now fallen below the round mark again. With minus 0.54 percent to 15,963.89 points, he said goodbye to the end of the day. It thus stayed just above the 21-day moving average, which is relevant for the short-term trend. The MDAX for medium-sized companies fell by 0.59 percent to 27,104.83 points.
At the end of the Dax, Zalando shares lost 3.8 percent according to a critical study by the bank JPMorgan. Analyst Georgina Johanan is skeptical about the development of the online fashion retailer. According to the expert, Internet access data and indicators for brand dynamics show a slowdown in business dynamics in Germany in May.
In the top group of the Dax, Deutsche Telekom (Deutsche Telekom) recovered by 1.6 percent from its nine percent drop on Friday, when news about possible competition from Amazon in the United States had weighed heavily on the entire sector before the weekend . The Bloomberg news agency had reported, with reference to insiders, that the internet retailer was examining a mobile phone offer for its Prime customers in the USA. However, Amazon stated that this topic is currently not on the agenda. With a plus of 0.4 percent, the European telecom sector was the best among the Stoxx 600 sectors on Monday.
At Uniper, speculators continue to have the say: the share price of the nationalized utility has recently risen, and the rate of decline is currently as rapid. On Monday, the papers collapsed again by almost a fifth.
The euro zone– The leading index EuroStoxx 50 (EURO STOXX 50) lost 0.70 percent to 4293.24 points. The French CAC 40 came under even more pressure, while the British FTSE 100 closed only slightly in the red. In New York, the US leading barometer Dow Jones Industrial (Dow Jones 30 Industrial) recorded moderate losses at the European close. Meanwhile, the tech-heavy NASDAQ 100 gained.
The weak US economic data helped the euro. Most recently, $1.0716 was paid for the common currency. The ECB had previously set the reference rate at 1.0690 (Friday: 1.0763) dollars, the dollar cost 0.9355 (0.9291) euros.
On the bond market, the current yield rose from 2.32 percent on Friday to 2.41 percent. The Rex bond index (REX overall price index) fell by 0.61 percent to 125.69 points. The Bund future fell by 0.41 percent to 134.89 points./ajx/men
— By Achim Jüngling, dpa-AFX —