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Dax is recovering almost completely from initial losses

Posted by Otto Knotzer on June 16, 2020 - 8:14am

Dax is recovering almost completely from initial losses


DAX curve in the trading hall of the Frankfurt Stock Exchange
The nervousness is back on the stock exchange. On Monday, the Dax temporarily fell 3 percent, the fear of a new corona wave is widespread in many countries. By the afternoon, stocks were again significantly more expensive, at the end there was only a small minus.

Dax-Kurve im Handelssaal der Börse Frankfurt

The German stock market almost completely recovered from its high initial losses on Monday. The Dax stock market chart even turned briefly positive in late trading and closed with a minus of 0.32 percent at 11,911.35 points. In early trading, the leading index was still down by almost 3 percent. The MDax stock market chart shows the medium-sized German stock market stocks ultimately lost 0.17 percent to 25,434.54 points on Monday after temporarily falling below the 25,000 mark.

The other leading exchanges in Europe, on the other hand, recorded clearer taxes. The Eurozone leading index, the EuroStoxx, ended 50. The stock market chart shows a 0.55 percent decrease at 3136.40 points. The FTSE 100 in London lost around 0.7 percent and the Cac 40 in Paris fell by around 0.5 percent. The Dow Jones Industrial stock market chart was down around 1.2 percent at the close of European trade.

 

The fear of a "second wave" of coronavirus infections had startled investors across Europe at the start of trading. The national health authority in China had announced new cases of infection at a wholesale market in Beijing after many weeks with only a few diseases - after many weeks in which there were hardly any diseases.

Bargain hunters have used the initial Dax setback to get back in, commented market expert Timo Emden from analysis firm Emden Research. However, the uncertainties surrounding the virus pandemic persisted.

Course overview: Here you can see Dax and Dow in real time

Volatility rises sharply

The volatility index VStoxx, also known as the "fear barometer", rose temporarily to 45.2 points, the highest level in almost eight weeks.


Among the individual values, the Lufthansa papers, which are considered to be particularly corona-sensitive, came under pressure and ultimately lost almost 3 percent at the end of the Dax. The leaders in the leading German index were the Wirecard shares. The stock market chart shows a plus of 6.8 percent.

Papers that had previously benefited from the corona crisis were sought again on Monday. For example, the titles of the Hellofresh cookbox mail order company took the MDax top by 5.3 percent. Shares of the provider of video conferences, Teamviewer show stock market chart, advanced by 2.2 percent. Shop pharmacy titles as an online mail order company for medicines won more than 6 percent at the top of the SDax small cap index.

The shares of Hugo Boss stock market chart show increased by 3.2 percent in the MDax. Retailers rated it positively that the British sports fashion provider Frasers Group has joined the Metzingen fashion group.

Investors throw BP shares out of the portfolio

Billion-dollar write-downs due to a bleak oil price outlook prompted investors to dump BP stocks. Shares in the oil giant gave up to 6.5 percent in London, but then narrowed their losses to less than 3 percent. BP plans to write off up to $ 17.5 billion in the second quarter due to a 30 percent reduction in its long-term oil and gas price outlook.

The Euro stock market chart barely got off the mark and recently traded at $ 1.1268. The European Central Bank set the reference rate at $ 1.1253 that afternoon.

June 17, 2020 at 6:27am