FRANKFURT (Dow Jones)–Europe’s stock markets are also on the afternoon of Wednesday vigorously in the negative. The Concerns about further waves of Covid-19-the outbreaks to take, mainly caused by sharply rising numbers of cases in some U.S. States. And in Germany tend to Gütersloh Worries, it is called in the trade. The DAX lost 2.1 percent to 12.257 points, for the Euro-Stoxx-50 it goes back to 2 per cent to € 3,234 K counter.
Positive economic data did not help. After on Tuesday the purchasing managers ‘ indices from Europe surprised on a broad Front is positive and back the wind had taken care of, now down, too, the Ifo business climate index in Germany, above the market expectation. He developed a positive pulse on the stock exchanges more.
For one, some players may have expected after the good data from the previous day already, and on the other a lot of good news, such as the ramp-up of the economy after the break-in between March and may on the stock markets already priced in to apply. The recent positive economic data, there is also the risk from a market perspective, the monetary and fiscal stimulus could in the future turn out to be smaller.
IMF lowers global growth forecast
Despite the recent good economic data, the IMF has lowered its growth forecasts further. For 2020, it expects a decline in global gross domestic product (GDP) of 4.9 percent. In April, a decline of only 3 per cent had been predicted. For 2021, a growth of 5.4 (5,8) is now said percent advance.
In addition, possible plans by the U.S. government for new tariffs against European imports press. It is a question of additional duties to the value of 3.1 billion dollars on products from Germany, France, Spain and the United Kingdom. New duties, there could be, among other things, olives, Gin and trucks, whereas the customs duties for aircraft and yogurt could be increased.
Travel and leisure shares are again at the forefront of the losers. “The discussion of an extension of the entry bans for U.S. Americans shows that there is up to normalization, still a long way,” says a trader. “For tourism, a sustained entry stop for Americans would be clearly negative,” he adds. The Stoxx Index of travel and leisure shares fall 2.7 percent.
No ground for Wirecard in sight
In the DAX, Wirecard, hold back the red lantern, with a loss of 26 per cent in the case of high volatility. The situation is still “confusing”, it is called in the trade. The financial Supervisory authority, Bafin has extended its display because of market manipulation against Wirecard. “The Ad-hoc communication of Wirecard AG on November 22. June 2020 reinforces the suspicion that the accounting presentation to solve sales and assets reports in the business (…) was incorrect,” said the statement.
Dialog Semiconductor to define a 7.3 per cent. The semiconductor company has increased the forecast because of good demand, among other things, to Tablets and laptops. “This shows once again that the technology and the semiconductor region are one of the winners of the crisis”, says a participant. In the Wake of the Dialog and AMS in Zurich will be more expensive to 8.1 percent – here is a promotion by JP Morgan is based.
Siemens strengthened its business area Digital Industries with the acquisition of a British technology start-UPS. “The transformation is concrete,” says a market participant. Siemens will support customers from the semiconductor industry to Overcome problems such as manufacturing defects, Software – and Hardware-errors, premature equipment failure, or malicious cyber attacks. Siemens tend to be 1 per cent lighter.
Premier Foods with good Numbers and Outlook
For Premier Foods, it goes on the London stock exchange for good business to pay equal to 14.9 percent. The food producer has announced, to exceed the targets for revenue and profits 2020/21. According to the A. J Bell, the company has benefited from this, that people have eaten during the lock downs are reinforced at home. Positive, the analysts also highlight that improvement in the debt burden in relation to income.
Medigene are 2.2 per cent higher, driven by the approval of a clinical study. The speculation of a Takeover by VW is driving, meanwhile, Europcar. The course is gaining 1.1 percent. VW is considering a Agency report States that the repurchase of the 2006 sold the Car rental company.
As a “business as usual” is referred to in the trade, that LEG Immobilien to the portfolio acquisition collected at the beginning of the week, now money in the capital market. The already expected increase in capital has been placed at a price of 115 Euro for investors – good 4 Euro using the closing price of the previous day. LEG to give 3.6 per cent.
Stock index last +/- % absolute +/- % YTD
The Euro-Stoxx-50 3.233,84 -1,97 -64,99 -13,65
Stoxx 50 3.004,53 -1,75 -53,66 -11,71
DAX 12.257,14 -2,13 -266,62 -7,49
The MDAX, 25.749,56 -1,60 -419,27 -9,05
The TecDAX, compared with 2,955,57 -1,51 -45,38 -1,97
The SDAX, 11.448,98 -1.40 to -163,06 -8,50
FTSE 6.172,63 -2,33 -147,49 -16,21
CAC 4,922 thousand,29 -1,90 -95,39 -17,66
Bond market last absolute +/- YTD
Dt. Ten-year yields -0,45 -0,01 -0,69
US ten-year yield 0,71 -0,01 -1,97
FOREX last +/- % Mi, 8:31 Tue, 17:31 % YTD
EUR/USD 1,1264 EUR -0.39% 1,1318 1,1326 +0,4%
EUR/JPY-120,43 -0,02% 120,65 120,55 -1,2%
EUR/CHF 1,0675 -0,12% 1,0682 1,0692 -1,7%
EUR/GBP 0,9043 +0.05% OF 0,9050 0,9046 +6,8%
USD/JPY 106,93 +0,42% 106,59 106,43 -1,7%
GBP/USD 1,2461 -0,42% 1,2508 1,2523 -6,0%
USD/CNH (Offshore) 7,0695 +0,12% 7,0598 7,0534 +1,5%
BTC/USD 9.336,01 -3,16% 9.644,51 9.655,26 +29,5%
CRUDE oil VT last Settl. +/- % +/- USD % YTD
WTI/Nymex 39,49 40,37 -2,2% -0,88 -32,3%
Brent/ICE 41,85 42,63 -1,8% -0,78 to € 33.5%
METALS last day before +/- % +/- USD % YTD
Gold (Spot) 1.768,63 1.767,55 +0,1% +1,08 +16,6%
Silver (Spot) 17,64 17,85 -1,2% -0,21 -1,2%
Platinum (Spot) 807,35 834,50 -3,3% -27,15 -16,3%
Copper Futures 2,67 2,66 +0,6% +0,02 -5,0%
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(END) Dow Jones Newswires
June 24, 2020 10:08 ET (14:08 GMT)