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FRANKFURT (dpa-AFX) – Growth concerns and disappointing corporate news made the Dax (DAX 30) rush into the depth on Thursday. The US President also caused uncertainty among the Brothers Donald Trump on Twitter was openly thinking of postponing the November presidential election so people could vote safely. After the fairly lethargic course up to the middle of the week, the leading index now practiced 3.45 percent at 12,379.65 points. This is the lowest level since early July. The MDAX for medium-sized stocks fell by 2.10 percent to 26,265.42 points.
The German economy experienced an unprecedented slump at the height of the Corona crisis. Gross domestic product (GDP) shrank in the second quarter by 10.1 percent compared to the previous quarter, as the Federal Statistical Office announced in an initial estimate. It was the sharpest drop since the quarterly GDP calculations began in 1970. Economic output had already dropped significantly at the beginning of the year. Europe’s largest economy is in a deep recession.
Ralf Umlauf, analyst at Landesbank Helaba, was skeptical: “Although sentiment indicators and real economic data have been improving significantly for a few months now, a very large decline in gross domestic product will be expected for 2020 as a whole. In addition, the Damocles sword of the second hovers Wave of infection especially about the development of the international economy. ” Meanwhile, economic activity in the United States also plunged to unprecedented levels in the second quarter as a result of the corona virus pandemic.
In the Dax, the preferred files of Volkswagen (Volkswagen (VW) vz) dropped by more than six percent. The carmaker slipped deep into the red in the Corona crisis and now wants to pay less to shareholders than initially thought. Only Wirecard was worse in the leading index with a drop of a good eleven percent. The papers of the insolvent payment service provider have meanwhile become a short-term speculation object.
HeidelbergCement’s share certificates, which leveled at around six percent, were also under strong pressure. In the second quarter, high depreciation and amortization caused the building materials group to lose billions of euros. Even the papers of Deutsche Brse (Deutsche Brse) and dialysis provider Fresenius Medical Care, which ran very strongly after the corona crash, were unable to escape the downward pull on the overall market and fell by around five and just under six percent after the submission of their business figures.
At the end of the MDax, Siltronic shares fell 8.6 percent. After a surprisingly good first half, the chip supplier is now cautiously looking ahead to the coming months.
In the small caps index SDAX, KRONES shares stood out negatively with a minus of around eleven percent. The waste and packaging equipment manufacturer slipped deeper into the red in the second quarter due to the corona crisis.
The EuroStoxx 50 (EURO STOXX 50) as the leading index of the Euro zone collapsed by 2.79 percent to 3208.20 points. The Paris CAC 40 and the London FTSE 100 each lost more than 2 percent. In New York, the Dow Jones Industrial (Dow Jones 30 Industrial) fell a good 1 percent at the European close of trading.
On the bond market, the current yield fell from minus 0.53 percent the previous day to minus 0.55 percent. The Rex index (REX total price index) rose 0.12 percent to 145.70 points. The Bund future gained 0.33 percent to 177.62 points. The euro gained in the face of weak US growth data and recently cost $ 1.1788. The European Central Bank had previously set the reference rate at $ 1.1743 (Wednesday: 1.1725). The dollar thus cost 0.8516 (0.8529) euros./la/he
— By Lutz Alexander, dpa-AFX —