Frankfurt (dpa -AfX) – The German stock market was weak on Tuesday. Last but not least, pressure came to the indices due to weakly expected US exchanges after the “Labor Day” had not been traded in the USA on Monday. The DAX slipped more clearly below the psychologically important brand of 24,000 points, which has come into view again since last week.
“Finally, buyers came into the market every time on the 24,000-point threshold,” said portfolio manager Thomas Altmann from QC Partners. “But it is easy to imagine that this buying threshold is gradually shifting downwards.”
At lunchtime, the German leading index gave up 1.1 percent to 23,784 points. The MDAX fell below 30,000 points. Most recently, the index of medium -sized companies lost 1.8 percent to 29,914 points.
With regard to the United States, the US exchanges are mainly waiting after a Court of Appeal Donald Trump had discussed the authority on Friday that, citing an emergency law, far-reaching tariffs to import products.
“In Asian trade, the still existing uncertainty about the economic effects of the US criminal duties was used for profit from taking,” said market expert Andreas Lipkow. There are also many questions in view of the power struggle around the US Federal Reserve behind the scenes and there is currently a lot of questions about the upcoming meeting in September.
“An interest reduction is far from being made up.” Therefore, the upcoming economic data from the United States, such as the labor market report on Friday, should still play an important role. “There are currently many new risk clusters that could still ensure considerable fluctuations in the financial markets.”
Under the individual values, the FMC share (Fresenius Medical Care (FMC) ST) lost 4.9 percent in the DAX. A sales recommendation by the major Swiss bank UBS. Analyst Graham Doyle referred to structural risks regarding business development in the USA and the risk of falling consensus estimates for the operational result.
Siemens (Siemens) gave up by 2.8 percent. They suffered from a gradation from amber research on “Market performance”. Analyst Nicholas Green justified his step with the strong price gains of the stock in recent years. Commerzbank, graded by Morgan Stanley on “Equal-Weight”, lost 2.4 percent. At the current level of evaluation, further progress in the Frankfurt business plan is necessary, wrote analyst Alvaro Serrano.
The course of SMA Solar collapsed by 28 percent in the SDAX. The manufacturer of inverters for photovoltaic systems reduced his forecast for the current year and is now expecting an operational loss. The restructuring trees already initiated should be tightened again.
Meanwhile, the fact that the engine farmer Deutz was expanding its small shop in the armaments market with the planned purchase of the Sobek Group. The paper won 6.0 percent on the index tip. The Sobek Group is a drive specialist for drones./CK/MIS
— from Claudia Müller, dpa-Afx —