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Frankfurt / Main (dpa) - Further influenced by the development on the bond markets and the sell-off in the technology sector, the Dax temporarily slipped below 14,000 points again on Thursday in a nervous trade.
Most recently it was slightly above it again with 14,029.12 points and a minus of 0.36 percent.
The day before, the leading index had reached a record high of almost 14,200 points, but was then slowed down by the rise in yields.
"Investors are currently examining exactly how willing the central banks are, in view of the rising inflationary pressure, to buy more bonds in order to counter the rise in interest rates," wrote analyst Jochen Stanzl in his morning commentary.
"Rising interest rates are effectively a kind of monetary policy tightening and that is currently not playing into the cards of the stock market, which is used to the opposite."
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The MDax of medium-sized companies has so far lost 0.83 percent on Thursday to 31,300.16 points.
The leading Eurozone index EuroStoxx 50 fell by 0.3 percent.
The weakness on the US stock exchanges, where technology stocks were sold again the day before, had already continued in the morning on the Asian trading venues and is now also affecting the stock market in Europe.
Overall, the latest trend is continuing: Highly valued stocks and crisis winners are being sold, while value stocks and those profiting from opening strategies after the lockdown are more likely to be bought.
On the stock market in this country, the day is determined by the reporting season with figures from the pharmaceutical and chemical company Merck KGaA, the real estate company Vonovia and the consumer goods manufacturer Henkel from the Dax.
Merck advanced 1.4 percent.
The Darmstadt-based company had presented solid results, wrote JPMorgan analyst Richard Vosser in an initial reaction.
The outlook for 2021 hardly means any need to adjust market expectations.
Vonovia gained half a percent, Henkel's prices were little changed.
Top value in the Dax were the stocks of the utility RWE with plus 1.9 percent after a buy recommendation by Societe Generale.
At the end of the Dax, with minus three and a half percent, the papers of the chip company Infineon were in line with the weak tech sector.
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The shares of the media group ProSiebenSat.1 in the MDax were very weak with minus 6.7 percent after a disappointing outlook, while it went up 3.9 percent for the papers of the plant manufacturer Gea according to figures and a medium-term more optimistic forecast.
Global Fashion Group slumped 8.3 percent in the SDax after placing a convertible bond.
© dpa-infocom, dpa: 210304-99-683094 / 3