The European stock exchanges broadened their losses from midday trading on Wednesday. The Euro-Stoxx-50 fell 0.94 percent to 3,290.40 points. The DAX in Frankfurt was trading around 12:30 p.m. with 12,541.47 points and a minus of 0.60 percent. The London Stock Exchange’s FTSE-100 lost 0.35 percent to 6,168.46 points.
There will be no economic stimulus today due to the empty data calendar, write the Helaba analysts. Risk appetite has eased somewhat on the financial markets recently, after surprisingly positive economic figures had given a good mood in the weeks before. The pandemic course, however, was assessed less critically, although the number of newly infected, especially in the United States, is alarmingly high, the experts said.
Market analyst Milan Cutkovic from broker AxiTrader added: “After an impressive start to the week, investors should first take a break.” Some of them are now taking profits from past trading days with them. Since the interim low of around 11,598 points in mid-June, the DAX has now gained a good eight percent.
In an environment characterized by uncertainty, food manufacturers remained stable, with the sector index slightly up. Shares in industry giants such as Nestle or the spirits manufacturer Diageo gained 0.3 and 1.5 percent, respectively. By contrast, the banking sector, which is considered to be risky, suffered the largest loss of all sectors with 2 percent.
Looking at the individual stocks, Deutsche Post stocks were well sought after. Previously, earnings growth had been reported in the second quarter. The preliminary results from April to June make the management of the logistics group confident. Swiss Post also set new goals for 2022. The group is getting through the crisis better than originally expected, said analyst Samuel Bland from DZ Bank. Among other things, it benefited from strong online and express business. At lunchtime, the stocks rose by 1.01 percent to 34.06, after having already gained over 2 percent in the meantime.
Delivery Hero stocks fell 3.15 percent in the MDAX. The food delivery service wants to get fresh money via a convertible bond and thus provide the opportunity to take advantage of attractive investment opportunities.
A negative comment by Bank JPMorgan on Nokia, according to which Nokia customer Verizon could rely more on Samsung as a supplier for technology for network access (RAN) in the future, weighed heavily on the share on Wednesday. At a discount of 7.25 percent, it was by far the biggest loser in the Eurozone leading index Euro-Stoxx-50. On Monday, it had risen to its highest level since October 2019.
(Conclusion) fpr / mik
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