Business DAX lighter - record slump in euro area economic...

DAX lighter – record slump in euro area economic sentiment due to pandemic – INDUS expects sales to decline – easyJet, ING, Ceconomy, Bayer, Deutsche Post in focus | message


The German stock market quickly surrenders its initial gains on Monday.

Of the DAX opened 0.97 percent higher at 9,725.88 points on Monday, but then turned shortly afterwards into the loss zone.

Of the TecDAX also has to give up its gains in early trading again after starting with a plus of 0.59 percent at 2,521.30 points.

The corona virus and its spread remains the dominant issue on the stock markets. The United States has now become the new epicenter of the pandemic. The initial recovery does not last long, but the DAX can limit its losses. “The focus of the stock market this week will be on the question of whether the floor will last without new aid packages,” quotes dpa analyst Thomas Altmann from asset manager QC Partners.

Meanwhile, the eurozone economic mood has dropped dramatically due to the pandemic.

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On the European stock exchanges, after initial gains, things are going red.

Of the EuroSTOXX 50 was able to register a profit of 0.23 percent to 2,734.92 index units at the start of the trade, but then slipped into the red.

Investors in the stock markets have again become more cautious. Fears continue to dominate that the coronavirus pandemic could be followed by a deep recession. Before the weekend, the slump in US consumer confidence compounded fears. Now the United States has become the epicenter of the epidemic. Meanwhile, the economic mood in the euro area also collapsed.

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Wall Street went down on Friday.

The US leading index Dow Jones 30 Industrial posted a loss when the starting bell rang and continued to post. His final score: minus 4.06 percent at 21,636, 78 points. The technology-heavy NASDAQ composite was also clearly in the red after having traded more easily at the start of trading. It ended the trading day 3.79 percent weaker at 7,502.38 points.

The United States has now overtaken China in terms of corona cases and is becoming the epicenter of the virus crisis. Accordingly, before the weekend, stock marketers play it safe and take no risks. After a three-day rally, profits are taken.

There was also a collapse in US consumer confidence. Meanwhile, because of the coronavirus pandemic, the U.S. Congress has decided to launch a massive stimulus package that is expected to pump around $ 2 trillion into the economy. US president Donald Trump has already announced that the legislative package will immediately come into force with its signature.

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Asia’s equity markets posted losses on Monday.

In Japan, the lost Nikkei at the close of trading 1.57 percent to 19,084.97 points.

On the Chinese mainland, the Shanghai Composite meanwhile 0.90 percent down to 2,747.21 points. In Hong Kong, the Hang Seng ultimately 1.32 percent weaker at 23,175.11 index units.

The Asian exchanges posted losses at the start of the week. Coronavirus remained the focus of investors. The United States has become the new epicenter of the epidemic. Uncertainty on the stock markets continues.

Click here for a complete index overview


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