FRANKFURT (dpa-AFX) – The German stock market presented itself little changed on Tuesday and without a clear direction. Partially disappointing corporate outlooks and central banks’ upcoming interest rate decisions this week caused reluctance among investors. Market participants also went somewhat on the defensive ahead of the quarterly reports from large US technology companies later in the week.
The DAX barely moved in the afternoon and ended with a loss of 0.12 percent at 24,278.63 points. The German leading index was once again unable to follow the record rally on other important stock exchanges and remains far away from its record of 24,771 points. The MDAX for medium-sized stock exchange groups, however, closed 0.32 percent higher at 30,236.96 points.
The EuroStoxx 50 ended 0.1 percent lower at 5,704 points. Outside the Eurozone The Swiss SMI fell by 1.3 percent, while the London FTSE 100 rose by 0.4 percent. The US stock markets continued their record run. The Dow Jones Industrial and the NASDAQ 100 recently rose by 0.6 percent each.
In the balance sheet season there were business figures from Symrise and Deutsche Börse (Deutsche Börse) from the Dax. The stock exchange operator’s shares fell by 1.7 percent. Symrise slipped by 4.5 percent at the end of the Dax. The manufacturer of fragrances and flavors is becoming even more cautious about growth in the current year.
DHL Group (DHL Group (ex Deutsche Post)) was among the best DAX stocks with a plus of 1.4 percent. The stocks were pulled up by a surprisingly positive sales forecast from the US logistics group UPS (United Parcel Service).
Investors in Suss Microtec (SUSS MicroTec SE (ex SUSS MicroTec)) experienced a price debacle with a loss of more than 27 percent. After a surprisingly weak quarter, the semiconductor supplier lowered its margin expectations for the year as a whole.
Impending loan defaults thwart ProCredit’s return target. The company said that return on equity this year will only reach 7 to 8 percent instead of around 10 percent. The shares fell by over 14 percent.
The financial service provider Hypoport (Hypoport SE) is also becoming more pessimistic and has cut its sales forecast for the current year due to weaker business in a joint venture with Deutsche Bank (Deutsche Bank). The price drop was 8.4 percent.
The shares of the railway technology company Vossloh fell by around 11.3 percent after a canceled buy recommendation from Kepler Cheuvreux.
Nordex, on the other hand, spread optimism. After a good quarter, the wind turbine manufacturer expects a higher annual profit than previously targeted. The titles jumped by almost 23 percent to their highest level since 2016./edh/he