Actions – Dax still in the red – economy

Renewed fears of a collapse of Chinese real estate giant Evergrande once again dragged European stock markets down. Of Dax fell 0.7% on Friday to 15,532 points. Some Evergrande dollar bondholders did not receive their interest payment due Thursday. There is now a 30-day grace period before a default becomes official, said Michael Hewson, investment strategist at brokerage firm CMC Markets. Evergrande shares plunged nearly twelve percent in Hong Kong. The struggling company is groaning under a mountain of debt worth around $ 300 billion. Investors hoped in vain for positive impulses from the economic data. The Ifo index, which reflects the mood of German leaders, fell again.

Dax’s losers included Adidas and Puma with a 2.5 and 3.1 percent discount, respectively. Sporting goods manufacturers suffered from disappointing sales and lowered annual targets for US rival Nike, a stockbroker said. North Americans are troubled by supply chain disruptions. Nike titles lost 6.3% in New York. Daimler papers led the Dax with a premium of 1.7%. The car manufacturer joins the battery alliance (ACC) of the major groups Stellantis and Totalenergies. Articles in the pharmaceutical and medical technology sectors, on the other hand, were weak. On the Dax, Sartorius was among the biggest losers with minus 3.3 percent, in the M-Dax Carl Zeiss Meditec, Evotec and Gerresheimer were behind with sales of up to 4.6 percent. Eckert & Ziegler took last place in the secondary S-Dax stock index with a minus of nearly six percent. Encouraging results from testing for a prostate cancer drug have pushed the shares of Anglo-Swedish pharmaceutical company Astra Zeneca up 2% on the London Stock Exchange. The agent is working with more variants than expected, said analyst Alistair Campbell of investment bank Liberum. This means that the sales target of four billion dollars can be far exceeded. Investors on the American stock markets have taken no risk given the crisis of the Evergrande group.

The Dow Jones closed 0.1% higher.

Related Articles

Back to top button