No stabilization in sight: DAX closes weaker

No stabilization in sight: DAX closes weaker

On Thursday, caution remains the order of the day on the German stock market.


© Provided by

Of the DAX started the trading day with a minus of 0.97 percent at 12,520.47 meters. After a trip into the profit zone, however, things went downhill again in the wake of Wall Street. Ultimately, the leading German index lost 0.29 percent to 12,606.57 points.

The German stock market is still struggling to stabilize. After the sell-off on Monday and the rather moderate price gains on the two following days, the minus signs predominated on Thursday. The increasing number of corona infections again came to the fore as a stress factor; in addition, the ifo business climate index fell slightly short of expectations.

Fear of new lockdowns

In this country, fears have recently arisen again that the rising number of coronavirus infections could lead to renewed lockdowns with serious economic consequences. With more than 6,000 new cases within one day, Great Britain reached the highest level of new corona infections since the beginning of May.

The country’s test system has reached its limits in the past few weeks: In many test centers there were hardly any tests available, in some cases citizens with symptoms had to drive several hundred kilometers. In view of the rapidly increasing numbers, stricter protective measures apply again.

ifo index brightens

The mood in German companies, as measured by the ifo business climate index, brightened again in September despite the rise in new corona infections, but analysts had expected a somewhat stronger increase.

“The German economy is still on a recovery course in September, but at a slowing pace,” wrote Michael Holstein, head of the economics department at DZ Bank. Many service sectors suffered from the renewed increase in the number of infections and the associated uncertainty about possible new restrictions.Redaktion / dpa-AFX

Video: Despite rising corona numbers, more stable consumer mood (dpa)


Please enter your comment!
Please enter your name here