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Frankfurt Stock Exchange: Dax is recovering - Trump is turning the stock market

2019-08-26T10:37:56.195Z

TIME ONLINE | News, backgrounds and debates



Frankfurt / Main (AP) - The Dax has recovered on Monday some of its recent price losses. After the weekend before the new customs spiral in the US-China trade conflict had shunned investors, news of the willingness to negotiate on both sides for relief.

In view of this, the unexpectedly sharp decline in the Ifo Business Climate Index did not have much impact on prices. By noon, the German leading index worked its way up to a plus of 0.59 percent to 11,679.69 points.

Somewhat heavier did the MDax. The index of mid-sized companies posted a small decline of 0.08 percent to 25,019.66 points due to high individual asset losses. By contrast, the EuroStoxx 50, the eurozone's leading index, gained 0.76 percent to 3359.63 points.

Trump said on Monday, on the sidelines of the G7 summit, that China had announced in a telephone call that it was willing to resume trade talks and conclude an agreement.

Meanwhile, the trade war continues to burden the German economy. After the mood had already deteriorated considerably in July, the Ifo Business Climate Index fell to its lowest level since November 2012 in August.

On the company side, the planned rental cover in Berlin weighed on the real estate values. Vonovia fell about minus two percent to the Dax end. Price reductions were even higher among other industry representatives: Deutsche Wohnen fell short of MDax by almost five percent, while Ado Properties and Adler Real Estate in the small caps index SDax lost around four percent each.

At the advertising marketer Ströer meanwhile made a canceled purchase recommendation by the US bank Goldman Sachs for a discount of more than five percent.

Source: zeit

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