The ups and downs of European stock markets continued into the first trading day in September. Of Dax abandoned its previously made gains on Wednesday afternoon and closed 0.1% lower at 15,824 points. “Although corporate earnings are strong, the Covid crisis has yet to be overcome,” Swissquote Bank analyst Ipek Ozkardeskaya said. The headwind is also coming from the European Central Bank after a board member recently called into play a cut in pandemic aid, said market analyst Christian Henke of IG Markets. “This could now fuel concerns about the end of ultra-accommodative monetary policy in Europe.” Other risks are rising inflation and bottlenecks for important assets such as computer chips.
With no business stimulus, analyst comments sparked a stir, and here the real estate sector was the center of attention. US investment bank Goldman Sachs and Morgan Stanley downgraded their ratings for Alstria Office shares. The titles of the office property manager were among the biggest losers in M-Dax with a 3.5% discount. LEG Immobilien shares are also no longer on Morgan Stanley’s buy list, which weighed on the share by 0.9%.
Shares of conglomerate Siemens with less than 2.1% were among the lowest values in Dax. US stock trader Stifel had downgraded the tech firm’s rating from “buy” to “keep”. The most popular stocks in the German benchmark were once again Delivery Hero stocks, which increased their strong yesterday’s earnings by a good six percent.
The Carrefour share price fell on Euronext in Paris by 5.1% to 15.99 euros. French billionaire Bernard Arnault has sold his last stakes in France’s largest supermarket chain. His holding company sold its 5.7% stake to investors for 16 euros per share.
The US stock markets present themselves without a clear trend. As the Nasdaq Composite Technology Index hit a new record high with over 0.4%, the benchmark ended Dow jones trade with minus 0.1 percent at 35,313 meters.